Albany Alert
Albany Alert: DFS Releases FAQ on Premium Change Notices
Albany Alert: DFS Releases FAQ on Premium Change Notices The Department of Financial Services (DFS) has released a frequently asked questions page regarding the premium change statute that was enacted as part of the state budget. The department’s responses are now available on the DFS website. If you have any additional questions you would like…
Read MoreAlbany Alert: DFS Circular Letter on Disaster Planning, Preparedness, and Response
Albany Alert: DFS Circular Letter on Disaster Planning, Preparedness, and Response The New York Department of Financial Services (DFS) issued its annual circular letter on disaster planning, preparedness, and response today. The circular letter to the P&C insurance industry requires each regulated entity to submit to DFS a response to a pre-disaster data survey by 6/11/26,…
Read MoreAlbany Alert: Governor Announces Budget Agreement
Albany Alert: Governor Announces Budget Agreement The Governor hosted a press conference this morning and announced that a budget agreement has been reached, in what she has said will amount to a total budget of $268 billion for the state. The legislative leaders have not made similar announcements and Speaker Heastie has been reported as…
Read MoreAlbany Alert: Cybersecurity Compliance Notification Extended in Relation to DFS ID Issues
Albany Alert: Cybersecurity Compliance Notification Extended in Relation to DFS ID Issues DFS notified NYIA indicating that they are granting a 30-day courtesy extension to regulated entities and individual licensees that are working to resolve issues related to DFS ID access provided that you submit a DFS ID ticket via the DFS ID Help Form.…
Read MoreAlbany Alert: 30-Day Penalty Waiver for Excess Line Broker Annual Tax Filing
Albany Alert: 30-Day Penalty Waiver for Excess Line Broker Annual Tax Filing DFS sent out the notice below regarding a waiver of penalties for excess line broker tax filings until April 14, 2026. Pursuant to New York Insurance Law Section 2118(d)(3), DFS-regulated excess line brokers are required to pay taxes on all business they procure and, pursuant to Section 27.8 of Insurance Regulation 41, to execute and…
Read MoreAlbany Alert: DFS Warns of Cybersecurity Threats
Albany Alert: DFS Pre-Proposed Regulation on Hurricane Deductible The Department of Financial Services (DFS) is alerting regulated entities and individuals to use caution before responding to outreach from individuals falsely claiming to represent DFS. DFS recently became aware of phishing emails purporting to come from DFS personnel urging regulated entities to open files, make payments,…
Read MoreAlbany Alert: 2026 State of the State Address
Albany Alert: 2026 State of the State Address Governor Kathy Hochul delivered her 2026 State of the State Address today before the full legislature in Albany. Notably, the Governor raised the issue of auto insurance affordability stating, “rampant fraud and runaway litigation costs are jacking up prices.” We are encouraged that Governor Hochul is interested in…
Read MoreAlbany Alert: Governor Hochul Actions on Legislation
Albany Alert: Governor Hochul Actions on Legislation 12.20.25 Late last night the Governor acted on several pieces of legislation that are relevant to the property casualty industry. Most notably, the majority of these bills would expand litigation. NYIA will be releasing more information on the bills signed over the coming days but wanted to provide…
Read MoreAlbany Alert: Superintendent Adrienne Harris to Depart DFS
Albany Alert: Superintendent Adrienne Harris to Depart DFS 09.30.25 Governor Kathy Hochul has announced that, after four years of service, Superintendent Harris will be leaving the Department of Financial Services. The Governor is appointing Kaitlin Asrow as Acting Superintendent of the Department of Financial Services effective October 18, 2025. Kaitlin Asrow has worked at DFS…
Read MoreAlbany Alert: Call to Action–We Urge You to Weigh In
Albany Alert: Call to Action – We Urge You to Weigh In Help STOP Harmful New York Legislation that Could Increase Lawsuits and Insurance Costs New York lawmakers are considering legislation—the deceptively titled Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act, A8427 (Lasher)—that could lead to an explosion of litigation against businesses in…
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