From the far edge of Western New York to way down on Long Island, from late January to early May, NAIFA-NYS will welcome state legislators (veterans and newcomers) to local events that showcase the issues and the values that NAIFA-NYS stands for. It's not just NAIFA members and staff who look forward to these events ... [...]
Governor Andrew Cuomo officially announced on January 4 his nomination of Linda Lacewell, his Chief of Staff, to replace outgoing Dept. of Financial Services (DFS) Superintendent Maria T. Vullo, who is slated to leave DFS by the end of January. Ms. Lacewell was an assistant U.S. attorney in Brooklyn before joining the NYS Attorney General's office [...]
Governor Cuomo has announced a 20-point progressive agenda for the first 100 days of the legislative session, preempting his own State of the State address in order, he said, to give the legislature maximum time to consider his proposals. He asserted that his “Justice Agenda”, as he calls it, would make New York independent from federal [...]
Superintendent Maria T. Vullo has announced that she will leave the Department of Financial Services (DFS), effective February 1, 2019, after nearly three years heading the agency. Under her leadership, the DFS has promulgated controversial cyber-security and "best interest" suitability regulations, among other initiatives. Superintendent Vullo's statement is available HERE.
In the morning hours of June 12th, the NYS Assembly unanimously - in a vote of 120 to 0 - gave final passage to the NAIFA-NYS bill that requires the Superintendent of Financial Services to grant six (6) continuing education credits to active members of a statewide professional insurance producer association - including NAIFA-NYS. Huge thanks to [...]
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 [...]
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 [...]
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 [...]
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.
DFS has issued, without announcement or public notice, an extension of the filing deadline until October 30. The language, posted quietly on the DFS web site, is a bit unclear and may create more confusion than previously existed: The Department has extended the initial period for making the filing of the Notice of Exemption required by [...]