Apr 13, 2020

Update: DFS emergency regulations

Over the weekend, PIANY was informed that the Department of Financial Services reported it had removed the requirement that insurance producers provide notification to their clients of recent Emergency Regulations the department adopted in the wake of the COVID-19 pandemic. PIANY followed up and received word this afternoon from the department that, while producers are no longer required to send notification via U.S. mail, the requirement to send notifications out electronically has not been removed.

What this means for your agency:

• Producers should notify all clients for whom they have email addresses.
• Producers are not required to send any physical notices via U.S. mail, even if they do not have email addresses for all clients.
• Producers are encouraged to put the notice on their agency website.
• Producers are also encouraged to share the notice via social media.
• Client consent to receive electronic notifications is not needed.

Guidance from the department on this issue can be found here.