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NAIFA-New York

NAIFA-New York


Recent posts by NAIFA-New York

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.

Topics: Advocacy Long Term Care New York
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.

Topics: Legislative & Regulatory State Advocacy

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.  

Topics: State Advocacy
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
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. 

Topics: Life Insurance State Advocacy New York
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.

Topics: State Advocacy
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. 

Topics: Regulatory Compliance Security
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.

Topics: State Advocacy

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