Benefits of Membership
LICONY HAS THREE CLASSES OF MEMBERSHIP
1. Members. Any domestic legal reserve life insurance company organized and doing business in the State of New York is eligible to join LICONY as a full member. Members are entitled to serve as full voting members on substantive issue subcommittees and on the Legislative & Regulatory Committee of LICONY. In addition, Members elect and may serve on the Board of Directors.
2. Associate Members. Nondomestic legal reserve life insurance companies doing business in New York State may become associate members of LICONY. A company is not eligible for associate membership if it is the parent, subsidiary, or affiliate of a New York domestic life insurance company that is eligible for membership in LICONY, but has not joined. Associate Members are entitled to serve as full voting members on substantive issue subcommittees and on the Legislative & Regulatory Committee of LICONY
3. Allied Professional Firm Members. Accounting, actuarial, law, and other professional firms are welcome to join LICONY as an Allied Professional Firm. Allied Professional Firm Members are entitled to attend LICONY meetings, participate in calls and share information, as well as receive all LICONY publications and have full access to the LICONY website.
BENEFITS OF MEMBERSHIP
LICONY exists to provide an effective, collective voice for the industry in this challenging environment. LICONY is recognized by the life insurance industry and by legislators and regulators throughout New York as the principal voice for the life insurance companies doing business in the State.
LICONY members enjoy many benefits, including:
- A place “at the table” when LICONY is developing legislative and regulatory positions and priorities for the life insurance industry doing business in New York.
- The opportunity to participate in task forces and working groups that work directly with the New York State Department of Financial Services (“NYSDFS”) on behalf of the New York life insurance industry.
- Information about changes in New York laws and regulations.
- The opportunity to be an active part of the community of life insurers doing business in New York that speaks responsibly and collectively for good public policy and practice.
- The opportunity to participate with other CEOs/COOs and General Counsels of LICONY member life insurance companies in joint policy meetings with the leadership of the NYSDFS.
- The opportunity for compliance and government relations staff to get to know their counterparts in the other member life insurance companies, and be able to consult with them on regulatory and legislative matters.
- Many other benefits, including:
- Regularly published newsletters
- Daily electronic news updates
- Survey membership
- Conference calls on legislative and regulatory developments
- Numerous conferences, seminars, and events.
- An annual “Day on the Hill” consisting of meetings with legislators.
- Participation in LICONY Policymaking Subcommittees