WELCOME
MEMBERS
HONOREES
GUESTS
2015
STATE
-OFTHE-
STATE
TRANSLATING
VISION
INTO
REALITY
SpecialThanks to
our Sponsors:
Lawrence J. Holzberg,
LUTCF
President
NAIFA – NYS
Welcome:
Steve Acunto
CINNWorldwide
2015
STATE
-OFTHE-
STATE
TRANSLATING
VISION
INTO
REALITY
SpecialThanks to
our Sponsors:
Welcome:
GregoryV. Serio
Park Strategies
Welcome:
Peter Molinaro
Park Strategies
John Hurley
Park Strategies
Mark L.Yavornitzki, CAE
NAIFA – NYS Lobbyist
GR Inititiatives
NewYork State
Legislative/Regulatory &
Inter-Industry
Panel Discussion Participants:
GregoryV. Serio
Peter
Molinaro
Mark
Y...
NAIFA-NYS
Legislative and Regulatory Issues
Zombie Bills
Definition
Undead legislative measures
that persist despite years or
even decades of inaction
Zombie Bills
• Examples:
▫ A3305 (Robinson)
 Requiring CFP Certification for Advising Seniors
▫ S141 (Diaz)
 Imposes 50%...
Improving the speed-to-market conditions
• S3287 (Seward) – Senate Floor Calendar
• A5208 (Simotas) – Assembly Insurance C...
S3287/A5208
Interstate Insurance Product
Regulation Compact
• Products Regulated:
▫ Life insurance, annuities, disability ...
S3287/A5208 Continued…
• Currently 44 member states representing over 70% of
the premium volume nationwide
▫ 6 of the larg...
Rebating Exceptions for Non-Insurance Benefits
• S1672 (Seward) – Senate Floor Calendar
• A666 (Hevesi) – Assembly Insuran...
Fiduciary Disclosure Statement
• A6933 (Dinowtiz) – Assembly Judiciary Committee
▫ Fiduciary good, all others bad
A6933
“I am not a fiduciary, therefore, I am not required to act in your
best interests, and am allowed to recommend inves...
Victory on Regulation 60
• NAIFA-NYS recommended reforms accepted by DFS
• Changes in effect now
• Company Compliance
• Im...
Other Issues and Q&A
• DFS – Changes at the top
• New Leadership in Legislature
ANY QUESTIONS?
Welcome:
David J. Walsh
LICONY Chairman
Welcome:
Diane Boyle
Sr.Vice President of
Government Affairs
NAIFA National
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
NAIFA-NYS 97th Annual State of the State 2015
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NAIFA-NYS 97th Annual State of the State 2015

NAIFA-NYS 2015 State of the State Membership Conference The 97th Annual State of the State was held on the grounds of The U.S. Military Academy at West Point. President’s Welcome – Lawrence J. Holzberg, LUTCF & Brief address by Senator William Larkin Don Trone – On Being a Fiduciary Awards Ceremony & Dinner: Colonel Donald Bernstein – Retired Deputy Post Commander, U.S. Military Academy, West Point State Leg / Reg and Inter-Industry update: Special Guest presenter, Steve Acunto, CINN Worldwide NAIFA National Update & Town Hall – Diane Boyle, Sr. VP
Published on: Mar 3, 2016
Published in: Business      
Source: www.slideshare.net


Transcripts - NAIFA-NYS 97th Annual State of the State 2015

  • 1. WELCOME MEMBERS HONOREES GUESTS
  • 2. 2015 STATE -OFTHE- STATE TRANSLATING VISION INTO REALITY SpecialThanks to our Sponsors:
  • 3. Lawrence J. Holzberg, LUTCF President NAIFA – NYS
  • 4. Welcome: Steve Acunto CINNWorldwide
  • 5. 2015 STATE -OFTHE- STATE TRANSLATING VISION INTO REALITY SpecialThanks to our Sponsors:
  • 6. Welcome: GregoryV. Serio Park Strategies
  • 7. Welcome: Peter Molinaro Park Strategies
  • 8. John Hurley Park Strategies
  • 9. Mark L.Yavornitzki, CAE NAIFA – NYS Lobbyist GR Inititiatives
  • 10. NewYork State Legislative/Regulatory & Inter-Industry Panel Discussion Participants: GregoryV. Serio Peter Molinaro Mark Yavornitzki David Walsh John Hurley
  • 11. NAIFA-NYS Legislative and Regulatory Issues
  • 12. Zombie Bills Definition Undead legislative measures that persist despite years or even decades of inaction
  • 13. Zombie Bills • Examples: ▫ A3305 (Robinson)  Requiring CFP Certification for Advising Seniors ▫ S141 (Diaz)  Imposes 50% franchise tax on COLI benefits
  • 14. Improving the speed-to-market conditions • S3287 (Seward) – Senate Floor Calendar • A5208 (Simotas) – Assembly Insurance Committee
  • 15. S3287/A5208 Interstate Insurance Product Regulation Compact • Products Regulated: ▫ Life insurance, annuities, disability income, and long-term care insurance • Single point of filing • NYS DFS Continued Opposition
  • 16. S3287/A5208 Continued… • Currently 44 member states representing over 70% of the premium volume nationwide ▫ 6 of the largest Compacting states (according to premium):  Texas, Pennsylvania, New Jersey, Illinois, Ohio, and Michigan ▫ 4 states with at least 2% of premium volume:  Massachusetts, Indiana, Maryland, and Wisconsin ▫ 1 additional from each four regional zones:  Alabama, Alaska, Arkansas, Colorado, Georgia, Hawaii, Idaho, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Washington, West Virginia, and Wyoming
  • 17. Rebating Exceptions for Non-Insurance Benefits • S1672 (Seward) – Senate Floor Calendar • A666 (Hevesi) – Assembly Insurance Committee • Forum on modernizing anti-rebating laws?
  • 18. Fiduciary Disclosure Statement • A6933 (Dinowtiz) – Assembly Judiciary Committee ▫ Fiduciary good, all others bad
  • 19. A6933 “I am not a fiduciary, therefore, I am not required to act in your best interests, and am allowed to recommend investments that may earn higher fees for me or my firm, even if those investments may not have the best combination of fees, risks, and expected returns for you.”
  • 20. Victory on Regulation 60 • NAIFA-NYS recommended reforms accepted by DFS • Changes in effect now • Company Compliance • Implementation Issues
  • 21. Other Issues and Q&A • DFS – Changes at the top • New Leadership in Legislature ANY QUESTIONS?
  • 22. Welcome: David J. Walsh LICONY Chairman
  • 23. Welcome: Diane Boyle Sr.Vice President of Government Affairs NAIFA National

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