NAIFA-NYS Legislative Updates

/NAIFA-NYS Legislative Updates

Honorable George Nichols III Headlines NAIFA-NYS Webinar, Offers Insight into Promoting Equality through Insurance

By | June 18th, 2020|Categories: Member News, Members, NAIFA-NYS Legislative Updates, News Alerts|

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 [...]

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Cuomo Approves 6 Regions for Phase I Reopening

By | May 20th, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

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 [...]

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Governor Outlines 4-Phased Plan to Reopen NYS

By | May 4th, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

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 & [...]

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DFS Says Producers Can E-Mail Clients about 90-Day Premium Deferral Period – No Physical Mailing Needed

By | April 10th, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

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.    

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NAIFA-NYS Asks to DFS to Reconsider Notice Requirement for 90-Day Premium Deferrals

By | April 9th, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

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.    

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DFS Offers Model Disclosure to Help Agents Comply with 90-Day Grace Period Regulation

By | April 7th, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

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.    

Governor Cuomo Signs FY 2021 Budget

By | April 3rd, 2020|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

Saying that despite the COVID-19 crisis “we have to be able to walk and chew gum,” the Governor on April 3 signed a FY 2021 budget unlike any other NYS budget.  It is “calibrated” to future revenues and losses in recognition, the Governor says, that “the State has no money” and is heavily reliant on federal [...]

Governor Vetoes Our CE Credit Bill, Again

By | December 2nd, 2019|Categories: Member News, NAIFA-NYS Legislative Updates, New York Issues|

For the second year in a row, and despite unanimous support in the NYS Senate and Assembly, Governor Cuomo on November 25 vetoed our legislation to provide continuing education (CE) credits for active membership in associations such as NAIFA-NYS.  The bill was a revised re-introduction of the version vetoed by the Governor on Christmas Eve 2018.  [...]

Statement of NAIFA-NYS President Phil Held on the Passing of Senator William Larkin

By | September 3rd, 2019|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

The life insurance agents and financial advisors join the many other New Yorkers mourning the passing of longtime state Senator William Larkin.  Our sympathies go out to his wife, Pat, son Bill, and many other relatives and friends. Bill Larkin was a friend to so many, and NAIFA-NYS was honored to be among that group.  Senator [...]

NYS Assembly Passes Our CE Credit Bill, 101-0

By | June 18th, 2019|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|

On June 18, the New York State Assembly approved unanimously—in a 101-0 vote—the NAIFA-NYS continuing education (CE) credit bill.  The legislation, which passed the NYS Senate 60-0 on June 7, would require the Superintendent of the Dept. of Financial Services (DFS) to grant three (3) CE credits to active members of insurance producer associations—including NAIFA-NYS—that operate [...]