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Governor Nominates New DFS Superintendent

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 | January 7th, 2019|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

DFS Supt. Vullo Announces Her Departure

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 [...]

By | December 19th, 2018|Categories: NAIFA-NYS Legislative Updates, New York Issues, News Alerts|0 Comments

U.S. Life Expectancy Drops for 3rd Consecutive Year

In 2017, according to the Center for Disease Control and Prevention's National Center for Health Statistics (NCHS), the average American could expect to live 78.6 years.  That's a shorter life expectancy than in 2016 and [...]

By | November 29th, 2018|Categories: News Alerts|0 Comments

NAIC “Enhanced” Annuity Suitability Draft Has Its Critics

An NAIC working group has developed a draft regulation imposing tougher annuity suitability standards, but the proposal doesn't go nearly far enough for some interested parties, including a consumer representative who often weighs in critically [...]

By | October 30th, 2018|Categories: News Alerts|0 Comments

NAIC Annuity Suitability Group is “Deeply Split” over In-Force Policy Issue

The National Association of Insurance Commissioners (NAIC) Annuity Suitability Working Group--which is plodding its way through creation of an enhanced suitability regulation for annuities--is divided on whether to apply the tougher standards to in-force transactions.  [...]

By | October 23rd, 2018|Categories: News Alerts|0 Comments

NAIC Moves Forward with New Approach to Annuity “Suitability”

State regulators on the NAIC Annuity Suitability Working Group--which is charged with revamping the NAIC's model annuity suitability regulation in light of growing interest in "best interest" standards--will meet in Chicago on October 22-23.  The [...]

By | October 15th, 2018|Categories: News Alerts|0 Comments