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NAIFA-New York Spring Member Experience Tour

By NAIFA-New York on 4/13/22 2:25 PM

Kick-Off Spring with NAIFA-New York! We are excited to invite you to a series of in-person events NEXT WEEK - our Spring Member Experience Tour. This event series is free for members and non-members alike. We can't wait to see you at one or more of our stops below!

Topics: NAIFA Events
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Meet with Lawmakers and Advocate for Main Street USA in Albany

By NAIFA-New York on 4/13/22 10:09 AM

Can you tell your clients you're fighting for them? If you attend NAIFA-NY's Annual Legislative Day, you can! 

NAIFA state legislative days provide great opportunities for insurance and financial professionals to share with lawmakers their expertise and understanding of how laws impact Main Street consumers. Insurance is a state-regulated industry and NAIFA works tirelessly to ensure the industry is being protected. No one tells the Main Street stories about the financial concerns, challenges, and triumphs of families and businesses as well as NAIFA members. These are stories that lawmakers want to hear.

1 min read

Make Your Voice Heard in Albany at Our Annual Legislative Day

By NAIFA-New York on 3/25/22 2:56 PM

NAIFA state Legislative Days provide great opportunities for insurance and financial professionals to share with lawmakers their expertise and understanding of how laws impact Main Street consumers. NAIFA works tirelessly to ensure the industry is being protected. No one tells the Main Street stories about the financial concerns, challenges, and triumphs of families and businesses as well as insurance and financial advisors. These stories from constituents are the ones that lawmakers want and need to hear.

4 min read

Cybersecurity Symposium: Marking the 5-year Anniversary of DFS's Cybersecurity Regulation

By NAIFA-New York on 3/25/22 9:05 AM

Please join DFS for a Cybersecurity Symposium in honor of the 5th anniversary of New York's Cybersecurity Regulation (23 NYCRR Part 500) and help us spread the word to your respective members.

The Symposium will take place virtually over the course of three Tuesday mornings, in March, April, and May.  You can register for each of these events at:

2 min read

NAIFA Welcomes New Member Nick Romo

By Ronan Friend on 3/18/22 5:43 AM

Nicholas “Nick” Romo knows the impact life insurance can have and works to protect families every day.

Romo didn’t start out in the insurance and financial services industry, but he was drawn to it by two factors. First, he saw two of his friends who opened successful insurance offices. They were helping people who weren’t being served by large investment companies, and he knew that he, too, could make a difference. Second, he saw the real-life effects of not having insurance, as several family members passed away unexpectedly without life insurance—or without enough coverage. He knew that, if they had been covered, it would have been much easier for their families. “I thought it could be my role to help people in those situations,” he says.

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DFS Formally Appeals on the Constitutionality of Reg 187

By NAIFA-New York on 2/16/22 11:23 AM

Last year, the Appellate Division, Third Department, found Regulation 187 to be unconstitutionally vague. The Appellate Division concluded that “ambiguities in the language employed, coupled with [the regulations] lack of clear standards for how these provisions will ultimately be enforced” bestow upon DFS “virtually unfettered discretion” in enforcing the regulation, thereby rendering it unconstitutionally vague.

2 min read

Legislative & Regulatory Update - February 2022

By NAIFA-New York on 2/4/22 1:39 PM

Legislative Update

The Legislature this week ratified new lines for New York’s Congressional and state legislative districts. The once in a decade process marked the first time that Democrats in the State Legislature held complete control over the reapportionment process. Preliminary indications point to Congressional Democrats having the opportunity to pick up three seats in New York.

Under the newly adopted State Senate lines, New York City will gain one seat in Brooklyn and Queens. These new lines largely reflect the growth in population in New York City over the last decade.

1 min read

Lincoln suspends NY MoneyGuard as of March 25th

By NAIFA-New York on 2/1/22 2:52 PM

NAIFA-New York has learned that Lincoln Financial Group is suspending new sales of its MoneyGuard product in the state of New York, with a final day to submit applications of March 25th.

Adrienne Harris Confirmed as Superintendent of the New York Department of Financial Services

By NAIFA-New York on 1/26/22 11:52 AM

The New York State Senate has voted to confirm Adrienne A. Harris as Superintendent of the New York State Department of Financial Services (DFS).

4 min read

Meet Loyal NAIFA Member Robert Quinlan

By Ronan Friend on 12/15/21 8:00 AM

Robert Quinlan, MBA, LUTCF, LACP, has been in the insurance and financial services industry for over 35 years and plans to stay for many, many more.

A Family Tradition

Quinlan is the second in a three-generation tradition of military service. After college, he followed in the footsteps of his mother, who served as a U.S. Army captain in World War II. Quinlan served three years as an active-duty Field Artillery Officer. His daughter, NAIFA Colorado past president and West Point graduate Kathleen Owings, also served as a U.S. Army captain, earning the Bronze Star Medal for her service in Iraq.

2 min read

Attorney General Letitia James drops out of New York governor race

By NAIFA-New York on 12/9/21 3:19 PM

State Attorney General Letitia James dropped out of the race for governor on Thursday and said she’ll instead seek a second term as New York’s chief law-enforcement official.

“I have come to the conclusion that I must continue my work as attorney general,” James said in a prepared statement.

“There are a number of important investigations and cases that are underway, and I intend to finish the job. I am running for re-election to complete the work New Yorkers elected me to do.”

The move followed heavy criticism from former Gov. Andrew Cuomo that James’ investigation of sexual harassment allegations against him was politically motivated.

Cuomo resigned in August, one week after James — using outside investigators — released a report that accused him of harassing 11 women, including nine current or former state employees.

Welcome November New Members!

By NAIFA-New York on 11/30/21 2:47 PM

Welcome new members who joined NAIFA-New York this November!

Belonging to your professional association sets you apart from the competition by ascribing to a Code of Ethics, voluntarily investing & participating in a performance-driven networking group, and serving your industry through advocacy and community service.

Topics: Members
2 min read

NAIFA-NY Legislative & Regulatory Update - December 2021

By NAIFA-New York on 11/30/21 10:24 AM

Opposition to Nomination of Acting Superintendent Harris

Twenty-five New York-based organizations called on Governor Hochul to rescind her nomination of Adrienne Harris for Superintendent of the Department of Financial Services (“DFS”). Their statement stated, in part, that:

NAIFA-New York Meets with Gov Hochul

By NAIFA-New York on 11/10/21 4:48 PM

Recently, NAIFA-New York leaders Gary Cappon, President, and Paul Sciacca, VP of Government Relations, attended an event with Governor Kathy Hochul to represent NAIFA-New York members.

1 min read

Taxation Needs Representation

By NAIFA-New York on 11/9/21 5:06 PM

Tax Increases Cloud the Horizon

As an insurance and financial professional, you and your clients face unprecedented legislative and regulatory threats. Both state and federal lawmakers seek revenue to cover trillions of dollars of COVID-19 relief measures, infrastructure projects, and other programs. All of this spending will add to a colossal government debt. Who’s going to pay for all of this? It would be foolishly naïve to think lawmakers will ignore our industry and the products and services vital to the financial security of American consumers. They are looking at us, and we need to be ready. Taxation needs representation!

Topics: Advocacy
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NAIFA-NY Regulatory Update - November 2021

By NAIFA-New York on 11/9/21 5:04 PM

New CE Requirements

Take note that the Department of Financial Services (“DFS”) has finalized its regulation which as been in the works for some time regarding heightened continuing education for agents and brokers. The revised regulation now requires enhanced flood insurance education for insurance producers who sell flood insurance through the National Flood Insurance Program. In addition, DFS is the first state regulator to require

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Attorney General Letitia James Announces Historic Bid for Governor

By NAIFA-New York on 11/9/21 5:03 PM

NEW YORK — New York Attorney General Letitia James today announced her historic candidacy for governor of the state of New York. The announcement, made in a video and on her website, highlighted the vast work that Attorney General James has done across the state throughout her career and lays out why she is the change that New York needs.

Welcome October New Members!

By NAIFA-New York on 11/1/21 11:16 AM

Welcome new members who joined NAIFA-New York this October!

Belonging to your professional association sets you apart from the competition by ascribing to a Code of Ethics, voluntarily investing & participating in a performance-driven networking group, and serving your industry through advocacy and community service.

Topics: Members

Volunteer with NAIFA-New York

By NAIFA-New York on 10/27/21 3:35 PM

To All Members of NAIFA-New York, 

All great organizations need committed Volunteers in order to grow and remain successful. 

As we look ahead to building on what has been a tremendous year, we are looking for members who wish to serve our Chapter.

Topics: Volunteers
1 min read

Are You Connected?

By NAIFA-New York on 10/27/21 3:31 PM

In an online world, it pays to be visible. A benefit of your NAIFA membership is being included on our consumer facing search engine, FinancialSecurity.org.

1 min read

U.S Congressman, Tom Suozzi, talks about the American Long Term Care Crisis with Neil Himmelstein

By NAIFA-New York on 10/18/21 1:56 PM

The U.S. Government will not be able to support Medicaid for much longer due to the increased demand for long-term care.

1 min read

NAIFA-NY Legislative and Regulatory Update - October 2021

By NAIFA-New York on 10/1/21 11:45 AM

As we last reported, on August 31, Governor Hochul announced that that Adrienne Harris was been nominated as Superintendent of Financial Services. Acting Superintendent Harris began work at the Department earlier this month.

Welcome September New Members!

By NAIFA-New York on 9/30/21 1:02 PM

Welcome new members who joined NAIFA-New York this September!

Belonging to your professional association sets you apart from the competition by ascribing to a Code of Ethics, voluntarily investing & participating in a performance-driven networking group, and serving your industry through advocacy and community service.

Topics: Members
2 min read

NAIFA-NY Legislative Update - September 2021

By NAIFA-New York on 9/1/21 1:00 PM

Legislative Update
On August 24th, Kathy Hochul become the first female Governor in New York State history.   Governor Hochul will complete the term of Andrew Cuomo (which expires at the end of 2022) who resigned the post in the wake of damning report by Attorney General Tish James which corroborated allegations of sexual harassment by Governor Cuomo.

Governor Hochul has announced that she plans to run for election in her own stead next year and has selected State Senator Brian Benjamin from Harlem as her replacement as Lieutenant Governor.  

Governor Hochul has kept most of Governor’s appointees in place for the time being as she undertakes a 45-day informal transition process.  

3 min read

Governor Hochul Announces Nomination Of Adrienne Harris As Superintendent Of The Department Of Financial Services

By NAIFA-New York on 8/31/21 2:51 PM

Governor Hochul Announces Nomination Of Adrienne Harris As Superintendent Of The Department Of Financial Services
Former Economic Advisor to President Obama to Become New York's Top Financial Regulator

Governor Kathy Hochul today announced that Adrienne Harris has been nominated to lead the New York State Department of Financial Services as its next Superintendent. Formerly a top economic advisor to President Obama, Ms. Harris will become the state's top financial regulator tasked with overseeing the banking and insurance industries and their compliance with state laws as New York works to rebuild its economy in the wake of the COVID-19 pandemic, if confirmed by the Senate.

Topics: New York

Welcome July and August New Members!

By NAIFA-New York on 8/31/21 10:47 AM

Welcome new members who joined NAIFA-New York this July and August!

Belonging to your professional association sets you apart from the competition by ascribing to a Code of Ethics, voluntarily investing & participating in a performance-driven networking group, and serving your industry through advocacy and community service.

Topics: Members
2 min read

Member Profile: Monique FanFan

By Advisor Today on 8/20/21 10:43 AM

Monique Fanfan, a native of Haiti who came to the United States to have her shot at the American dream, began her career in financial services working in a bank. She then went on to work for a financial investment firm out of New York and later she spent 15 years as an accountant.  

1 min read

NAIFA-NY Member Robert Petrocelli Named Chair of New York Life’s Agent Advisory Board

By NAIFA on 8/11/21 4:32 PM

New York Life has named Robert Petrocelli, Founder and Managing Director of Petrocelli Financial Services in New York City and a loyal NAIFA member since 1979, as the 2021-2022 Chair of the influential New York Life Agent Advisory Board of Directors (ABD). The ABD, according to the company, “is an elite group of 16 agents who meet with the company’s executive leaders to provide their perspectives on corporate strategic initiatives based on their experience in the insurance and financial services industry and running among the most successful agent practices in the country.”

Topics: Members
1 min read

NAIFA-NY Responds to Latest Life Product Departure

By NAIFA-New York on 8/11/21 11:03 AM

In the latest departure of life insurance products, Lincoln Financial pulled new sales of both term and universal life policies from New York until an electronic signature process could be implemented. 

2 min read

NAIFA-NY Legislative Update - August 2021

By NAIFA-New York on 8/6/21 11:14 AM

Cybersecurity a Top Priority of DFS
Cybersecurity continues to be a top priority of the Department of Financial Services (“DFS”). Watch this space for revisions to the current cybersecurity regulation and continued enforcement actions for failure to have policies and procedures in place or for inappropriately filing a certificate of compliance. To keep up to date and utilize the tools available, be sure to check out DFS's Cybersecurity Resource Center, including its tools for small businesses.

2 min read

Superintendent Lacewell Announces DFS Issues New Guidance on Ransomware Prevention

By NAIFA-New York on 7/9/21 11:21 AM

Ransomware Crisis Threatens All Financial Services Companies

DFS Guidance Identifies Key Cybersecurity Measures to Reduce Risk of Ransomware Attacks

Superintendent Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has issued new guidance on preventing ransomware attacks. In the guidance, DFS identifies cybersecurity controls that significantly reduce the risk of a ransomware attack and should be implemented by companies wherever possible. 

2 min read

NAIFA-New York Legislative Update - July 2021

By NAIFA-New York on 7/9/21 11:15 AM

Legislative Session Update
As reported previously, the New York State Legislature concluded their legislative session on June 10 with their traditional flurry of legislative activity with 461 bills passing both houses during the final week.

As a point of reference, 892 bills passed both houses this session which began in January. Of the 892 measures, 652 have yet to be delivered to be Governor which is not atypical for this point in the year. We anticipate that most of these measures will be enacted into law with most of the vetoes occurring at the end of the year. It is unclear at this point what impact the pending investigations of the Executive Chamber will have if any on this process.

In a sign that the world is returning to some sense of normalcy, the State Capital is now open to the public.

June 22 was primary day in New York State. Due to the new ranked voting methodology, the winner in the NYC Democratic mayoral primary has not been declared but it appears that Brooklyn Borough President Eric Adams is the favorite to occupy Gracie Mansion next January.

As an aside, every state legislator seeking local office in New York City lost on primary day.

In Buffalo, Democratic Social of America member India Walton decisively upset four-term Mayor Byron Brown in the Democratic primary. Ms. Walton is the overwhelming favorite to be the next Mayor of Buffalo.

Finally, State Senator Todd Kaminsky has announced his candidacy for Nassau County District Attorney.

3 min read

Loyal Member Profile: Peter Browne

By NAIFA on 6/3/21 12:25 PM

Peter Browne, LUTCF is serving as the Immediate Past President of NAIFA-NY and has been a loyal NAIFA member since 1965. Peter recently relocated to White Plains, NY but spent the bulk of his career in New York, NY with PRB Wealth Management. He specializes in executive compensation and estate planning. 

4 min read

NAIFA-New York Legislative Update - June 2021

By NAIFA-New York on 6/2/21 9:54 AM

Legislative Session
As the June 10 close of session quickly approaches, the Assembly and Senate introduced and moved hundreds of bills the past couple of weeks. The Senate wrapped up their regularly scheduled Committee meetings and the Assembly will continue to hold Committee meetings until the week before they adjourn for the year.

Welcome May New Members!

By NAIFA-New Jersey on 6/1/21 3:00 PM

Welcome new members who joined NAIFA-New York this May!

Belonging to your professional association sets you apart from the competition by ascribing to a Code of Ethics, voluntarily investing & participating in a performance-driven networking group, and serving your industry through advocacy and community service.

Topics: Members
4 min read

Loyal Member Profile: Gary Cappon

By NAIFA on 5/11/21 9:31 PM

Gary Cappon, CLU, LUTCF, RICP, FSCP, CLTC is the President of NAIFA-NY and has been a loyal NAIFA member since 2006. He practices with Cadaret Grant & Co., Inc., in Syracuse, NY, where he is the Vice President of Sales and Fixed Annuity Insurance Solutions and assists financial professionals from all over the country with every aspect of the planning process. This role enables him to use his knowledge and skills to provide solutions to complex problems.

Topics: Advisor Today
3 min read

Loyal Member Profile: Mitchell Ostrove

By NAIFA on 5/4/21 10:52 AM

Mitchell “Mitch” Ostrove CLU, ChFC, LACP serves as the VP of Professional Development on the NAIFA-NY Board and has been a loyal NAIFA member since 1965. He practices with The Ostrove Group, in White Plains, NY, where he specializes in insuring small closely held corporations.

Topics: Advisor Today
4 min read

NAIFA-New York Legislative Update - May 3, 2021

By NAIFA-New York on 5/3/21 12:57 PM

Legislative Session
With the enactment of the State Budget, the Legislature has shifted its focus to programmatic issues. The Legislature plans to complete the 2021 Session on June 10th. Both houses will likely pass virtually thousands of bills over the next six weeks. The Attorney General’s investigation into sexual harassment allegations against Governor Cuomo will undoubtedly impact the pace and agenda for the balance of the Legislative Session.

3 min read

New York Appellate Court Rules Regulation 187 Unconstitutional

By NAIFA on 4/29/21 2:40 PM

The New York Supreme Court, Appellate Division, has ruled that state Insurance Regulation 187, “Suitability and Best Interests in Life Insurance and Annuity Transactions,” is unconstitutional. A 2018 amendment to Regulation 187 imposed a complicated new standard of care on annuity recommendations and broadened the scope of the regulation to include life insurance as well as annuity products.

3 min read

Loyal Member Profile: Neil Himmelstein

By NAIFA on 4/27/21 7:01 PM

Neil Himmelstein serves as the Vice President of Membership on the NAIFA-NY Board and has been a loyal NAIFA member since 1997. He practices with Main Street Planning Group, in Center Moriches, NY, where he specializes in high-net-worth programs such as Premium Finance and Restricted Property Trust and finding solutions for clients with health impairment needs.

4 min read

NAIFA-New York Legislative Update, April 7, 2021

By NAIFA-New York on 4/7/21 9:30 AM

Legislative Update from GreenbergTraurig, NAIFA-New York's lobbyists

1 min read

NAIFA-New York Member survey giftcard winners

By NAIFA-New York on 3/30/21 4:55 PM

Thank you to everyone that took time out of your busy day to complete our member survey. We truly appreciate it as your feedback will directly help to improve NAIFA-New York. We made notes of every single response that we received to ensure your feedback makes a difference.

2 min read

NAIFA-New York Elects Leadership for 2021

By NAIFA on 2/19/21 5:01 PM

NAIFA-NY has selected a new slate of officers to serve on its Board of Directors for 2021. The board is comprised of NAIFA members who bring a wealth of industry and association experience to their leadership roles. They will chart the course for the chapter’s 1,100 members over the coming year with a strong emphasis on state government advocacy.

Topics: Leaders New York
1 min read

NAIFA-NY Kicks off 2021 with Joe Jordan

By NAIFA-New York on 2/10/21 5:05 PM

Come together as NAIFA-New York on February 18 at 1:45 pm. Meet your 2021 NAIFA-NY Board of Directors and find out what's in store this year, as well as hear from industry legend, Joe Jordan. Joe will discuss the idea of using reverse mortgages as a bridge to social security and Medicare premiums driven by income, eating up social security, which is taxable.

2 min read

NAIFA-New York Hires Greenberg Traurig to Represent State Advocacy Interests

By NAIFA on 12/22/20 3:01 PM

The New York chapter of the National Association of Insurance and Financial Advisors (NAIFA) has reached an agreement with Greenberg Traurig under which the firm will represent the advocacy interests of NAIFA-New York with state legislators and regulators. Greenberg Traurig is a global law firm with offices around the country, including in Albany and New York City.

November 12th Town Hall Now Available

By NAIFA on 11/17/20 2:39 PM

We have posted the on-demand version of our Town Hall that we held on November 12, 2020. The Town Hall focused on introducing the transition team, discussed next steps in installing a board and more. 

1 min read

Let's Turn Their Triple Play into a Grand Slam!

By Corey G. Mathews, CAE on 11/11/20 12:02 PM

NAIFA-New York is excited to join NAIFA-New Jersey, NAIFA-Pennsylvania, and NAIFA-Delaware for their VIRTUAL TRIPLE PLAY - SUPER CE DAY...Three States, Three Hours, Three Speakers...and now, us!  Sign up now and be a part of the action on Tuesday, November 17th at 10 a.m.

2 min read

NAIFA-New York and LICONY Partner to Leverage Their Advocacy Clout

By NAIFA on 10/30/20 1:55 PM

The National Association of Insurance and Financial Advisors’ New York chapter (NAIFA-New York) and the Life Insurance Council of New York, Inc. (LICONY) will collaborate in 2021 and beyond on issues that are important to agents and advisors, the industry, and the consumers they serve.  

1 min read

New York Annuity Transaction Rules Follow the NAIC Model

By NAIFA on 10/30/20 1:49 PM

New York is one of three states to have implemented annuity transactions rules for producers that create a best interest standard in line with the National Association of Insurance Commissioners’ (NAIC) Suitability in Annuity Transactions Model Regulation. NAIFA is urging other states to adopt the NAIC model, which would enhance consumer protections while ensuring agents and advisors are able to effectively continue serving consumers in New York.

3 min read

Highly Respected and Accomplished Advisors Named to NAIFA-New York Transition Team

By NAIFA on 10/15/20 4:16 PM

Team of industry stalwarts in the state will lead NAIFA’s New York chapter until state members select a new Board to take office in January.

Topics: Press Release

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