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New York Proposes “Best Interest” Standard for Life and Annuity Sales Alongside NAIC Proposal for Annuities

On December 27, 2017, the New York Department of Financial Services (NYS-DFS), the regulatory authority for the insurance industry in New York, published a proposal (New York Proposal) to add a “best interest” standard to...more

New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity...more

Florida Legislature Relaxes Agency Licensing Requirements for Broker-Dealer Branch Offices Selling Insurance Products but Creates...

Under current Florida insurance laws, branch offices of broker-dealers selling insurance products in Florida are required to either “license” or “register” as agency branches (in addition to satisfying insurance producer...more

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