Honorable George Nichols III Headlines NAIFA-NYS Webinar, Offers Insight into Promoting Equality through Insurance
During a special June 18 NAIFA-NYS town hall webinar, the Honorable George Nichols III, an accomplished insurance executive & regulator and current president of The American College, joined us for a June 18 town hall webinar and shared his views on how insurance—and life insurance in particular—can be part of a sustainable solution to economic imbalance. He spoke of his experiences [...]
Six regions—Central New York, Finger Lakes, Mohawk Valley, North Country, Southern Tier, and Western New York—are allowed to begin reopening based on their meeting of certain metrics, and the Phase I businesses eligible to restart (construction, agriculture, manufacturing, and wholesale trade) in those areas must comply with new, detailed guidance and safety plan requirements from the state. A page on [...]
Governor Cuomo has laid out a 4-phased, regional approach to restarting NYS businesses after a wide-ranging shutdown in response to the coronavirus pandemic. The Central/Upstate New York regions and the construction industry are likely to benefit first. Additional information is available HERE. To access the Governor's 156-page NY Forward: A Guide to Reopening New York & Building Back Better, click HERE. [...]
DFS Says Producers Can E-Mail Clients about 90-Day Premium Deferral Period – No Physical Mailing Needed
The Department of Financial Services (DFS) has determined that producers only have to e-mail clients to tell them about the 90-day premium deferral period for COVID-19 financial hardship—and only send to the client e-mail addresses they already have.
In an April 9 letter to Department of Financial Services (DFS) Superintendent Linda Lacewell, NAIFA-NYS stressed the great, and arguably unnecessary, burden placed on producers complying with the 10-day notice deadline for 90-day premium deferrals, and urged DFS to reevaluate. The letter also conveyed results of the NAIFA-NYS COVID-19 survey.
The Department of Financial Services (DFS) has issued a model notice for agents to give policyholders telling them of the DFS emergency regulation that creates a 90-day, COVID-19–related deferral for payment of life insurance & annuity premiums. More information, including a NAIFA-NYS breakdown of the significant regulation, is in the COVID-19 Resource Center.