The New York State Department of Financial Services News

New York Fines NRA $2.5M, Halts Its Insurance Business in the State for Five Years

The New York State Department of Financial Services (DFS) has entered into a settlement with the National Rifle Association (NRA) to resolve alleged violations of New York insurance law. The settlement includes a monetary penalty of $2.5 million and means …

New York Regulator Takes Action to Expedite Isaias-Related Insurance Claims

The New York State Department of Financial Services (DFS) has taken action to help expedite the payment of insurance claims for New Yorkers affected by Tropical Storm Isaias. As the storm moved through the eastern portion of the state, it …

New York DFS Launches Program to Drive Innovation Post-Pandemic

The New York State Department of Financial Services (DFS) has launched DFS FastForward, a new program to support innovators seeking to deliver new solutions in financial services, fintech, insurtech and healthtech for New Yorkers in the COVID-19 era. “As New …

New York Insurers Required to Waive Cost-Sharing for Coronavirus Testing

The New York State Department of Financial Services is requiring New York health insurers to waive cost sharing associated with testing for novel coronavirus, including emergency room, urgent care and office visits. New Yorkers receiving Medicaid coverage will also not …

New York Launches Online Re-Licensing for Insurance Agents and Brokers

The New York State Department of Financial Services (DFS) has launched an online application to speed up the re-licensing process for agents and brokers whose original licenses have been expired more than two years. The online re-licensing application is available …

Zenefits Fined $1.2M for Violations of New York Insurance Law

The New York State Department of Financial Services (DFS) has fined YourPeople Inc., doing business as Zenefits FTW Insurance Services, $1.2 million for allowing unlicensed employees to sell insurance and failing to implement adequate compliance controls and employee training, according …