RESOURCE CENTER – COVID-19 CORONAVIRUS

The Governor’s Office, the Department of Financial Services (DFS), and other New York State entities have released orders and guidance regarding the COVID-19 coronavirus—including requirements directly related to life insurance agents and their clients—and a variety of news and insurance and consumer resources are increasingly available.

As a service to NAIFA-NYS members, we have created this Resource Center page to help them navigate this challenging and unprecedented time.  Check back frequently for new and updated information.


Governor’s 4-Phase Plan for Reopening New York (May 2020) – click HERE
→ Visit forward.ny.gov for the latest info regarding the 4 Phases.

Click image above for an update on COVID-19 testing results in NYS regions.


GOVERNOR’S EXECUTIVE ORDERS:

Released in July
No. 202.47 to 202.54:  Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency
llllllALERT:  Executive Order No. 202.48 announces end of the DFS
llllllemergency regulation that authorized a 90-day premium deferral
llllllin cases of coronavirus-related financial hardship.

Released in June
No. 202.36 to 202.46:  Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency

Released in May
No. 202.26 to 202.35:  Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency

Released in April
No. 202.14 to 202.25:  Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency

Released in March
No. 202.1 to 202.13:  Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency

No. 202:  Declaring a Disaster Emergency in the State of New York (March 7)

DFS INDUSTRY GUIDANCE:

NEW:  DFS Waives Expiration of Producer Licenses for Another
30 Days (through August 7)

DFS Announces that Remote Testing, for All 28 Insurance
Licensing Exams, Will Be Available Beginning on June 15

DFS Supplement to Circular Letter No. 9 (extends until July 8 the
Circular Letter’s suspension of producer licensing expiration dates, in
recognition of challenges obtaining necessary CE credits)

DFS 308 Letter to All Authorized Life Insurance/Annuity Insurers in NYS
(a market survey that asks for details regarding a carriers’ business,
sales, and underwriting practices in light of COVID-19 and recent
financial market turmoil) (May 13)

llllllCoronavirus (COVID-19) Insurance Producer Licensing FAQs

llllllGuidance to DFS-Regulated Entities Regarding Cybersecurity
llllllAwareness During COVID-19 Pandemic (April 13)

llllllEmergency Regulation Establishing 90-Day Grace Period for Payment
llllllof Life Insurance, Annuity Premiums as a Result of COVID-19 Hardship
llllll(March 30)

llllllllllllllDFS Says that Producers Only Need to Send E-Mail Notices
llllllllllllllRegarding the 90-Day Deferral Period – No Physical Mailing Required

llllllllllllllModel Notice for Agents to Give to Policyholders

llllllllllllllKey Points of Executive Order 202.13 and DFS Emergency Regulation

llllllllllllllNAIFA-NYS Notice to Members regarding DFS Emergency Regulation
llllllllllllllon Premium Relief for Life Insurance Policyholders

llllllCurrent Guidance Regarding Electronic Signatures, Transactions, and
llllllFilings with DFS

llllllInsurance Circular Letter No. 9 (2020): Coronavirus and Insurance Producer
llllllLicensing Requirements (March 25)  acts on a NAIFA-NYS suggestionllll

       Insurance Circular Letter No. 7 (2020): Guidance to Department of Financial
llllllServices (“DFS”) Regulated Insurance Entities Regarding Support for
llllllConsumers and Businesses Impacted by Novel
llllllCoronavirus (COVID-19) (March 19)

llllllGuidance to New York State Regulated Financial Institutions Regarding
llllllSupport for Consumers and Businesses Impacted by the Novel
llllllCoronavirus (COVID-19) (March 19)

llllllGuidance to New York State Regulated and Exempt Mortgage
llllllServicers Regarding Support for Borrowers Impacted by the
llllllNovel Coronavirus (COVID-19) (March 19)

       Order Granting Temporary Relief to COVID-19 Affected Regulated Entities
       and Persons (March 12)

       Insurance Circular Letter No. 5 (2020): Guidance to Department of Financial
       Services (“DFS”) Regulated Insurance Entities and Request for
       Assurance Relating to Operational and Financial Risk Arising from the
llllllOutbreak of the Novel Coronavirus (COVID-19) (March 10)

       Guidance to New York State Regulated Institutions and Request for Assurance
       of Operational Preparedness Relating to the Outbreak of the Novel
       Coronavirus (March 10)

       Guidance to New York State Regulated Institutions and Request for Assurance
       Relating to Potential Financial Risk Arising from the Outbreak of the
       Novel Coronavirus (March 10)

       Guidance to New York State Regulated Banks, Credit Unions and Licensed
       Lenders Regarding Support for Businesses Impacted by the Novel
       Coronavirus (March 10)

       Guidance to Department of Financial Services (“DFS”) Regulated Institutions
       Engaged in Virtual Currency Business Activity and Request for
       Assurance Relating to Operational and Financial Risk Arising from the
       Outbreak of the Novel Coronavirus (COVID-19) (March 10)

       Insurance Circular Letter No. 4 (2020): Cancel For Any Reason Travel Benefits
llllll(March 6)

       Insurance Circular Letter No. 3 (2020); Preparedness for Coronavirus
       (COVID-19) (March 3)


 

 

 

 

 

 

 

NAIFA-NYS Town Hall Webinars

COVID-19:  Diagnosing Impacts on NYS Life Insurance Agents
& Options for Economic Recovery (May 14) – PPT Presentation – Audio/Video

Two-Part COVID-19 Town Hall:
PART I – Keeping Your Business When This Is Over:  What to Say When & Why
– featuring Richard Weylman of The Weylman Center for Excellence in Practice Management (April 3) – Speaker Presentation

PART II – A Chat with NAIFA-NYS President Phil Held (April 7) –
PPT PresentationAudio/Video


NEWS CENTER

LIVE UPDATES:  Breaking News in the U.S. and Around the World

Pressure Grows to Automatically Forgive PPP Loans under $150K,
but Fraud & Liability Concerns Loom

llllllNYS Malls, Gyms, and Movie Theaters Will Not Restart in
llllllPhase 4 of Reopening Plan

llllllLawmakers Pass COVID-19 Bills During Remote Session in Albany

llllllPaycheck Protection Program (PPP), Round 2:  Can Your Business
llllllReceive Any of This Money?

llllllCOVID-19:  State and Local Government Responses (as of July 28)

llllllNAIFA-NYS Applies for COVID-19 Grant

llllllNAIFA-NYS Asks DFS to Reconsider Producer Notice Requirement
llllllfor 90-Day Premium Deferrals

INSURANCE INDUSTRY RESOURCES: 

llllllNAIFA-NYS Letter to DFS Regarding Results of COVID-19 Member Survey, llllllProducer Emergency Disclosure Obligations

llllllCARES Act Paycheck Protection Program (PPP) for Small Businesses:

lllllllllllllllNEW:  U.S. Treasury Dept. “Tools” for Understanding the PPP

lUPDATED:  PPP Loan Forgiveness Application / Calculation Form
l(revised June 16, 2020)

 UPDATED: U.S. Treasury Information Sheet & Application Form
  (revised as of June 12, 2020)

lllllllllllllllTemplate for Calculating PPP Application Payroll Costs
lllllllllllllll
(provided by Larry Knapek, Knapek, Gabriele and Bottini, CPAs,
lllllllllllllllLatham, NY)

llllllOfficial Guidance on U.S. Economic Injury Disaster Loans (EIDL) Program
llllllfor Small Businesses & Private Non-Profits

llllllCARES Act Enhanced Unemployment Benefits“What You Need to Know” llllllOverview / Flowchart NYS Pandemic Unemployment Assistance Guidance

llllllOfficial Guidance Regarding New Paid Family Leave Benefits under the
llllllFamilies First Coronavirus Response Act (FFCRA)

lllllThe Department of Labor (DOL) Coronavirus Resource Page

llllllNAIFA-NYS Letter to DFS Offering Suggestions for Temporary
llllllMeasures to Further Assist Consumers During COVID-19
llllllCrisis (March 25)

llllllGuidance on Governor’s Exec. Order No. 202.6:  Insurance Is an “Essential
llllllService” (Exempt from Workforce Reduction Requirements)

       Joint Industry Letter to DFS Regarding Additional Steps to Address
llllllCOVID-19 (March 19)

llllllNAIC Brief:  COVID-19 and Insurance

llllllOF INTEREST:  The 1918 Flu Pandemic Hit GDP Hard:  Economists

CONSUMER RESOURCES:

      Centers for Disease Control & Prevention (CDC) COVID-19 Web Site

llllllWhite House Coronavirus Guidelines

llllllJohns Hopkins University Coronavirus Resource Center

llllllCISA:  Federal Cybersecurity Information & Updates

llllllFederal Drug Administration (FDA) COVID-19 Web Site

       NYS Department of Health COVID-19 Consumer Information

       Federal Trade Commission (FTC) Notice Regarding Coronavirus Scams

       SEC Alert Regarding Coronavirus-Related Investment Scams

       DFS Coronavirus Information Page – general information

       National Assoc. of Insurance Commissioners – Coronavirus Resource Center

NAIFA NATIONAL:

Joint NAIFA/Life Insurance Industry Statement Denouncing Racial Injustice

llllllIndustry Letter to Chief Regulators Encouraging Temporary Producer
llllllLicenses (April 1)

llllllNAIFA Summary of Retirement, Small-Business Loan Provisions
llllllin CARES Act

llllllNAIFA-Supported Provisions Included in Landmark Coronavirus
llllllRelief Legislation

llllllNAIFA COVID-19 Resources Page

       GovUpdate:  Coronavirus Response Bill, with Required Paid Sick Leave,
lllllllSigned Into Law

       NAIFA Statement on Coronavirus & Statement to Members