ALERT: Notice Regarding NYS Changes to Certain Insurance Contracts Due April 13
The New York State Department of Financial Services has just released a model notice regarding the changes made to life policies, annuity contracts, and fraternal benefit society certificates recently enacted in Executive Order 202.13. The Department has mandated that notice be sent to participants of affected plans regarding these changes by April 13. To assist in this, the Department has released a Model Notice for insurance brokers. That model notice can be found at the Department of Financial Services website (HERE). All insurance brokers of affected policies should send this notice to all of its insured policyholders as soon as possible.
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Heather Reynolds, ESQ