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.


DFS Suspends CE Requirement for 60 Days

 

GOVERNOR’S EXECUTIVE ORDERS:

llllllNo. 202.13:  Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 30)

llllllNo. 202.12: Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 28)

llllllNo. 202.11:  Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 27)

llllllNo. 202.10:  Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 23)

       No. 202.9:  Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 21)

       No. 202.8:  Continuing Temporary Suspension & Modification of
llllllLaws Relating to the Disaster Emergency (March 20)

llllllNo. 202.7:  Continuing Temporary Suspension & Modification of
llllllLaws
Relating to the Disaster Emergency (March 19)

llllllNo. 202.5 and No. 202.6:  Continuing Temporary
llllllSuspension & Modification of Laws Relating to the Disaster
llllllEmergency (both dated March 18)

       No. 202.1, No. 202.2, No. 202.3, No. 202.4:  Continuing Temporary
llllllSuspensionland Modification of Laws Relating to the Disaster Emergency
llllll(all dated March 7)

       No. 202:  Declaring a Disaster Emergency in the State of New York
llllll(January 30)

DFS INDUSTRY GUIDANCE:

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

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

Join NAIFA-NYS for a special two-part town hall program on what life insurance agents and financial advisors can – and must – do during the COVID-19 pandemic.

Part 1 – Retaining Your Business When This Is Over:  What to Say NOW and WHY
April 2 – 9:15 to 9:50 a.m.

Read Transcript of Part 1 Presentation – Featured Speaker, Richard Weylman of The Weylman Center for Excellence in Practice Management

Part 2 – State of the State:  NYS-Specific Regulatory & Other Changes Affecting
Life Insurance Producers
April 7 – 9:00 to 10:00 a.m.

Register HERE for April 7 Town Hall

NEWS CENTER

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

llllllBanks Warn of Chaotic Launch of Small Business Lending Program

llllllPressure Mounts on Insurance Companies to Pay Out for Coronavirus

llllllTrump Signs $2 Trillion Coronavirus Relief Bill into Law as Companies
lllllland Households Brace for More Economic Pain

llllllCOVID-19:  State and Local Government Responses (as of April 2)

llllllInsurers Scramble to Avoid 9/11-Style Coronavirus Backlash

       Life Insurance Does Cover Pandemics:  NAIC

       County-by-County Map of Coronaviruses in New York State

INSURANCE INDUSTRY RESOURCES: 

llllllCARES Act Paycheck Protection Program (PPP) for Small Businesses:
llllll– U.S. Treasury Information Sheet & Application Form
llllll– U.S. Chamber of Commerce – Small Business Guide & Checklist

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

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:

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