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PUBLICATIONS ▸ Overview | Albany Alert (m) | Albany Update (m) | Annual Conference Review | e|minute (m) | Enacted Law Bulletins (m) | Guiding Principles | Legislative Introductions (m) | Your NY Connection Magazine (m)
Albany Update 03.28.24
In this issue …
While the deadline for adopting a budget is April 1, the Governor and Legislature have instead agreed to a short-term extender. Yesterday Governor Hochul issued a statement indicating that she will be delivering a bill to the Legislature to temporarily extend the budget deadline until Thursday, April 4. The Governor said that while she believes a final agreement is within reach the reason for the extension is so New Yorkers can enjoy the holiday weekend. Senate Majority Leader Andrea Stewart-Cousins stated in a news conference that “we’re in the middle of the middle.” The Senate and Assembly both passed the budget extender legislation today. We will keep NYIA members informed of any further updates on the budget.
As a reminder, the April 15 cyber compliance deadline is fast approaching. Covered entities need to file either a certification of material compliance or acknowledgement of noncompliance by this date. As we mentioned during the Information Security Advisory Group meeting held this week, delegates may go into the portal and sign on behalf of the highest ranking executive and the CISO with a “submitter” field being added. The highest ranking executive and the CISO themselves are required to have based their decision on documentation and data, and all related records and information must be retained regarding the submission for five years. Additional information is available in DFS’s Cybersecurity Resource Center by clicking on Submit a Compliance Filing on the left-hand menu.
The following bills have recently seen movement in at least one house of the Legislature.
PUBLICATIONS ▸ Overview | Albany Alert (m) | Albany Update (m) | Annual Conference Review | e|minute (m) | Enacted Law Bulletins (m) | Guiding Principles | Legislative Introductions (m) | Your NY Connection Magazine (m)
Albany Update 03.20.24
In this issue …
The association submitted comments on DFS’s proposed circular letter on artificial intelligence and external consumer data information sources. NYIA raised a wide range of issues with the proposal, based on member feedback, with focus on the fact that circular letters are advisory only and need to refer to existing statute, corresponding regulations or case law. We received a tremendous amount of input and appreciate the robust comments shared by member companies. We will continue to monitor this issue closely and provide members with any updates regarding DFS’s intended next steps.
As a follow up to our Albany Alert and report provided on the bi-weekly call last week, NYIA has put together an analysis of the Senate and Assembly budget proposals. This analysis provides the Senate and Assembly action on Executive Budget proposals as well as a list of new proposals from the Senate. We are weighing in with public policymakers on these proposals as budget negotiations heat up. It is uncertain whether there will be an on-time budget by the deadline of April 1. We will keep members informed.
The bill to allow for electronic delivery policy notices (including cancellations and nonrenewals) has been amended. The legislation, A8219A (Berger)/S2731A (Sanders) now applies to auto insurance. NYIA is working to have legislation introduced to allow for electronic delivery with workers compensation. The law was changed a couple years ago to allow for electronic delivery but chapter amendments were passed so it only applied to insurance law. The current efforts are to fully allow for electronic delivery with auto insurance and workers compensation insurance by including references in their corresponding laws.
Three bills were advanced from the Assembly Insurance Committee this week:
One bill advanced from the Assembly Labor Committee:
Four bills have recently passed in the Assembly, as has been the case in previous years:
PUBLICATIONS ▸ Overview | Albany Alert (m) | Albany Update (m) | Annual Conference Review | e|minute (m) | Enacted Law Bulletins (m) | Guiding Principles | Legislative Introductions (m) | Your NY Connection Magazine (m)
Albany Update 03.12.24
In this issue …
NYIA will be holding a meeting for members to discuss issues related to implementation of DFS’s amended cybersecurity regulation through the association’s Information Security Advisory Group. The meeting will be held virtually on Tuesday, March 26 from 2:00–3:00 p.m. You can add the meeting to your calendar. We encourage you to share this invitation with your company’s subject matter experts. Please contact Cassandra Anderson at canderson@nyia.org with any topics you would like raised. An agenda will be sent out closer to the meeting date.
The New York State Department of Financial Services (DFS) recently released a pre-proposed third amendment to 11 NYCRR 82 (regulation 203), which pertains to Enterprise Risk Management and Own Risk Solvency Assessment; Group-Wide Supervision. The amendment is due to the group capital calculation (GCC) legislation advanced last year and relates to the GCC filing process, which indicates that the calculation shall be submitted electronically. The pre-proposed regulation also details when an entity would be exempt from the filing, able to submit a limited group capital filing, needs to submit an annual GCC as well as provides parameters around “recognize and accept” for non-United States jurisdictions. Comments can be submitted to Joana Lucashuk by email at joana.lucashuk@dfs.ny.gov by Thursday, March 14. If you have comments you would like NYIA to submit on your behalf, please contact Bob Farley at bfarley@nyia.org by Wednesday, March 13.
DFS recently announced as part of National Consumer Protection Week that the agency in 2023 collected more than $182 million, with $158 million recovered for consumers and health care providers and $23 million in restitution from enforcement actions. In their media release DFS issued they continue to tout their consumer protection and enforcement roles and highlight how a consumer can file a complaint with the department.
PUBLICATIONS ▸ Overview | Albany Alert (m) | Albany Update (m) | Annual Conference Review | e|minute (m) | Enacted Law Bulletins (m) | Guiding Principles | Legislative Introductions (m) | Your NY Connection Magazine (m)
Albany Update 02.08.24
In this issue …
This week the New York State Senate introduced S8485 which provides for the types of damages that may be awarded to the persons for whose benefit an action for wrongful death is brought. This bill, which has yet to have been introduced in the Assembly, is identical in text to the 2023 bill that was vetoed by the Governor in December.
Since the new bill introduced by Senator Hoylman-Sigal is the same as the bill that was vetoed, the arguments NYIA made seeking a veto last year remain relevant and important. You can view NYIA’s letter and memo of law NYIA submitted to the Governor last year. NYIA will continue its efforts to strenuously oppose this very ill-conceived and hurtful bill.
A8942 (Weprin)/S8167 (Breslin) – This bill would direct the department of financial services to conduct a study examining private flood insurance. It was reported from the Senate Insurance Committee and advanced to the Senate Third Reading Calendar on January 24. It has yet to be considered in the Assembly.
A8500 (Weprin)/S8018 (Breslin) – This bill would provide a chapter amendment to last session’s bill concerning verification of an applicant’s New York State driving history when used as a rating or underwriting factor for private passenger motor vehicle insurance. It passed the Assembly on January 16, passed the Senate on February 7 and is awaiting delivery to the Governor.
A8503 (Jacobson)/S8030 (Skoufis) – This bill would provide a chapter amendment to last session’s bill concerning supplementary uninsured and underinsured motorist coverage for police agencies. It passed the Assembly on January 16, passed the Senate on January 24 and was signed by Governor Hochul on February 7 as Chapter 30.
A7820 (Jean-Pierre)/S5757 (Scarcella-Spanton) – This bill would establish the position of an insurance liaison on the disaster preparedness commission. It was reported from the Senate Committee on Veterans and Homeland Security on January 24 and passed the Senate on February 7. It has yet to be considered by the Assembly Governmental Operations Committee.
S365B (Thomas) – This bill would enact the New York Privacy Act. It was reported from the Senate Committee on Consumer Protection to the Internet and Technology Committee on February 6. There is not a current same as bill in the Assembly.
On February 1 the New York State Department of Financial Services (DFS) filed an emergency 11th amendment to 11 NYCRR 60.2 (Insurance Regulation 35-D) regarding supplementary uninsured/underinsured motorist coverage with respect to certain police and emergency vehicles. The emergency regulation is scheduled to appear in the State Register on February 21. DFS also released additional documentation in relation to the emergency regulation. This regulation became necessary upon the enactment of Chapter 30 of the Laws of 2024, A8503 (Jacobson)/S8030 (Skoufis), which mandated the inclusion of this coverage for certain police and emergency vehicles.
On December 13 Governor Kathy Hochul signed into law Chapter 723, A2672B (Paulin)/S1048A (Cooney), which amended Section 518 of the general business law to prohibit all sellers in a sales transaction from imposing a credit card surcharge on any customer unless such seller clearly posts the price of the credit card surcharge, at the location where the sale occurs, together with the final sales price of such sales transaction, inclusive of the surcharge. According to this new law, every violation will subject a seller to a fine of $500 (for each noncompliant transaction). The new law takes effect 60 days after it was chaptered, which is February 11, 2024. In accordance with this new law, on February 6 the New York State Department of State issued Credit Card Surcharge Guidance to help assist sellers with its requirements. Examples of violations were also published by the Department of State along with an educational video. The Business Council of New York State is offering a webinar on the new law with the Department of State on February 15 from 1:00 to 2:00 p.m. NYIA members are able to attend at no charge but pre-registration is required.
On February 7 the New York State Department of State adopted a new regulation (19 NYCRR Part 220) with respect to their oversight on telemarketing. The new regulation can be found starting on page 13 of the linked document. This regulation is now in full force and effect.
This new regulation was made in accordance with section 399-z of the general business law and specifies: the legal authority to transfer telephone numbers to the federal registry; several definitions in accordance with 399-z, including consumer, established business relationship, goods and services, hearing, knowingly, and telemarketer; violations; and enforcement practices.