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2017 Was Record Year for Data Breaches in NY

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 would close gaps in [...]

By | April 2nd, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

NYS Senate Passes NAIFA-NYS CE Credit Bill

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 Insurance Committee Chair James [...]

By | March 27th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

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

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 federal efforts to defend [...]

By | March 16th, 2018|Categories: News Alerts|0 Comments

Chautauqua Legislative Luncheon Proves that Small Can Be Mighty

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" standard for life insurance [...]

By | February 1st, 2018|Categories: Member News|0 Comments

Buffalo Legislative Breakfast a Rousing Success

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 State - including the [...]

By | February 1st, 2018|Categories: Member News|0 Comments

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

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 York Department of Financial [...]

By | January 29th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments