naifa-nys

/naifa-nys

About naifa-nys

This author has not yet filled in any details.
So far naifa-nys has created 55 blog entries.

2017 Was Record Year for Data Breaches in NY

By | April 2nd, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

A new study reveals that more than 1,500 data breaches were reported to the NYS Attorney General in 2017--a significant jump from 2016--and that the personal records of 9.2 million New Yorkers (thanks largely to the Equifax breach) were exposed.  The findings have prompted Attorney General Eric Schneiderman to push for new cyber-security legislation that he says [...]

NYS Senate Passes NAIFA-NYS CE Credit Bill

By | March 27th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

The New York State Senate on March 27 overwhelmingly passed a NAIFA-NYS-initiated bill requiring the Superintendent of Financial Services to grant six continuing education credits for all active members of a statewide professional insurance producer association passed the State Senate today. The top priority bill on the 2018 NAIFA-NYS affirmative legislative agenda, S3960 - sponsored by Senate [...]

Court of Appeals Vacates – in Its Entirety – the DOL Fiduciary Duty Rule

By | March 16th, 2018|Categories: News Alerts|

In a decision that took many observers by surprise, the 5th Circuit Court of Appeals, based in Texas, vacated in full the Department of Labor's (DOL) controversial fiduciary duty rule on March 15, 2018.  The Court determined that DOL exceeded its statutory authority, among other concerns.  As of this writing, the future of the rule and potential [...]

Chautauqua Legislative Luncheon Proves that Small Can Be Mighty

By | February 1st, 2018|Categories: Member News|

NAIFA-Chautauqua is a small association, but it's awfully active, and on January 25 its members gathered just outside Jamestown for a roundtable luncheon with legislative representatives and NAIFA-NYS senior staff.  Topics of discussion at this very collegial event included the potential impacts of Department of Financial Services (DFS) regulations -- cyber-security and a "best interest" [...]

Buffalo Legislative Breakfast a Rousing Success

By | February 1st, 2018|Categories: Member News|

Our Buffalo association continued its tradition of successful legislative breakfasts on January 25, when nearly 60 members, non-members, legislators and staff, and NAIFA-NYS representatives gathered in an elegant ballroom at Salvatore's Italian Gardens in Depew.  Senior NAIFA-NYS government relations staff briefed attendees on the legislative and regulatory challenges facing life insurance agents in New York [...]

NAIFA-NYS Releases First-of-Its-Kind Cyber-Security Tool for Life Agents, Responds to DFS Regulation

By | January 29th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

Albany, New York, January 29, 2018 — The National Association of Insurance and Financial Advisors-NYS (NAIFA-NYS) today announced a first-of-its-kind compliance tool to assist New York life agents to comply with the state’s new cyber-security insurance regulation. The tool is now available through the association’s web site at www.naifanys.org. “The cyber-insurance regulation promulgated by the New [...]

New York Moves to Create Its Own “Best Interest” Standard

By | January 5th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues|

As the DOL hits “pause” on full implementation of its fiduciary duty rule, New York regulators have proposed a “best interest” standard of their own, one that would apply to all life insurance products and would extend beyond the current suitability requirement.  Details HERE.

NAIFA-NYS Announces Legislative Breakfast Schedule

By | January 5th, 2018|Categories: Member News|

Building on their successes in 2017 - when more New York locals held legislative breakfasts than in many, many years - the NAIFA-NYS locals have announced their 2018 calendar of legislative events.  The schedule begins on January 25, with a Buffalo legislative breakfast, followed by a Chautauqua association legislative luncheon.  The Western tour continues on January [...]

Cuomo Considers Overhauling the New York State Tax Code

By | December 30th, 2017|Categories: News Alerts|

Governor Cuomo, in response to the federal tax reform's near-elimination of the state and local tax (SALT) deduction, is proposing to overhaul the New York State tax code and warns of a potential legal challenge against the federal government.  Details available HERE.

New York Moves to Create Its Own “Best Interest” Standard

By | December 27th, 2017|Categories: News Alerts|

As the DOL hits "pause" on full implementation of its fiduciary duty rule, New York regulators have proposed a "best interest" standard of their own, one that would apply to all life insurance products and would extend beyond the current suitability requirement.  Details HERE.