Seminar link and materials will be sent closer to the event.
LICONY/NYSDFS
Life Insurance Legal and Compliance Webinar
Thursday, July 21, 2022
12:00 noon – 4:00 p.m. ET
(CLE Pending)
Welcoming Remarks
12:00 noon – 12:05 p.m.
Richard Loconte
President & CEO
LICONY
- Life Insurance Panel
12:05 – 1:15 p.m. – Presentation
1:15 –1:30 p.m. – Q & A
Diane Stuto – LICONY Managing Director, Moderator
NYS DFS PANELISTS:
Sumit Sud Avani Shah
Acting Executive Deputy Superintendent, Acting Executive Deputy Superintendent,
Insurance Division Insurance Division
Kate Powers Mona Bhalla
Acting Deputy Superintendent for Insurance Deputy Superintendent for Life Insurance
Mark Mcleod Victor Agbu
Deputy Life Bureau Chief Assistant Life Bureau Chief
Peter Dumar Bill Carmello
Chief Life Attorney Chief Life Actuary
Todd Cafarelli Kathleen Ryan Michael Mazzie
Supervising Life Attorney Supervising Life Attorney Supervising Life Actuary
- Life Bureau Administrative Issues
- Report on Life Bureau Staffing
- Potential Back to Work Schedule
- COVID-19 Issues
- Status of Hard Copy Filing Requirements
- Overview of Electronic Replacement & Policy Form Filing Requirements
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- Discussion of streamlining electronic form review process and necessity for submission of screen shots
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- Legal Issues
- 2022 Legislative Session Issues
- A.7699/S.6666 -- Low Interest Rate Fixes to Nonforfeiture Laws for Life Insurance
- A.9128/S.7744 -- Amendments to NYIL 4223 to Authorize the Sale of Participating Deferred Income Annuities
- A.8617/S.4329 -- Expansion of the Permissible Criteria of Wellness Programs and Incentives
- Departmental Bill 156 – Group Capital Requirements
- Regulatory Issues
- Circular Letter to Facilitate Electronic Maintenance of Company Books & Records
- Circular Letter 5 of 2022-- Acquisitions of Control and Disclaimers of Control
- Follow-up on Circular Letter 5 of 2021 – Diversity & Corporate Governance
- Proposed 4th Amendment to Regulation 47 – Separate Accounts & Separate Account Products
- Proposed 2nd Amendment to Regulation 50 – Agent Training Allowance Subsidies
- 2022 Disaster Preparedness Circular Letter for Life & A&H Insurers
- Policy Form Filing Issues
- Authority for Use of Multi-Policy Discounts for Group Life Contracts
- Metrics for Policy Form Filings and Filing Tips
- Supplemental Filing Guidance Note on Equity Indexed Annuity Contracts
- Revised Individual Life Insurance Application Outline
- Filing Guidance for Policy Forms Referencing MIB, Inc.
- Updates on Business Filing, Regulation 60 (Replacements) and Exam Issues
- Update on Process for Holding Company, Merger & Acquisition and Other Business Filings
- Regulation 60 – Replacements
- Update on Changes to Compliance Procedure Review Process
- LICONY draft revised Form 10-A-2
- Exam Issues
- Electronic Application Examination Process
- Other Common Life Insurance Exam Findings
- Actuarial Issues
- Regulation 213 -- PBR
- Legislative Reporting Requirement
- Plans for 2022 Amendments
- Update on Status of Ongoing Actuarial Data Calls
- Perspectives from DFS Cybersecurity, Climate Change, and Research & Innovation Units
1:30 – 2:30 p.m. — Presentations
2:30 – 2:45 p.m. — Q & A
Diane Stuto, Moderator
Justin Herring
Executive Deputy Superintendent, Cybersecurity Division (1:30 – 1:50 p.m.)
- Cybersecurity and Information Technology Baseline Risk Questionnaire (CIBRiQ) – Outreach to Domestic Life Insurers
- Plans for Amendments to 23NYCRR Part 500
- Lessons Learned from Recent DFS Enforcement Actions
Dr. Yue (Nina) Chen
Executive Deputy Superintendent, Climate Division (1:50 – 2:10 p.m.)
- Update on NY DFS Climate Division Initiatives
- Formation of Climate Division
- Update on Guidance for New York Domestic Insurers on Managing the Financial Risks from Climate Change
- 2022 NAIC Climate Risk Disclosure Survey & Related Request for Information
- NAIC/International Update
Kaitlin Asrow
Executive Deputy Superintendent, Research and Innovation Division (2:10 – 2:30 p.m.)
- Overview of DFS Research and Innovation Division
- Launch of DFS Exchange
- Circular Letter 1 of 2019 – Use of External Data in the Life Underwriting Process
BREAK – 2:45 – 3:00 p.m.
- Health Insurance Panel
3:00 – 3:45 p.m. – Presentation
3:45 – 4:00 p.m. – Q & A
Timothy Atkins, LICONY Managing Director & Counsel, Moderator
NYS DFS HEALTH BUREAU PANELISTS:
Tobias Len Christina Fernet Harry McNeil
Assistant Chief Associate Attorney Director of Rate Review and Data Analysis
- Health Bureau Introduction
- Policy Form Filing Review and Tools to Assist with Filings
- Accident Regulation Update
- Paid Family Leave
- Paid Family Leave on DFS website
- Insurance Regulation 211 (11 NYCRR 363): Minimum Standards for the Form and Rating of Family Leave Benefits Coverage, Including the Establishment and Operation of a Risk Adjustment Mechanism
- Insurance Circular Letter No. 11 (2017) Family Leave Benefits Coverage
- NYS DFS PFL Serff Checklist
- COVID PFL Risk Adjustment Insurance 217 Regulation (11 NYCRR 365)
- Data Quality: Issues and Why They Matter
- Data Quality Enforcement: Fines & Risk Pool Claim Exclusion
4:00 p.m. – WEBINAR ENDS
Members | $100.00 |
Members (W/CLE) | $150.00 |