SAVE THE DATE!! Wednesday, May 22, 2019 – 2nd Annual Surplus Lines and Reinsurance Forum

Co-sponsored with ELANY.  The Union League Club , New York City – Details to follow!


What is IFNY?

Since its inception in 1913, the Insurance Federation of New York, Inc. (IFNY) has earned broad-based distinction as one of New York’s insurance industry’s most widely respected organizations, communicating ideas among all sectors of the industry and bringing public and private interests together for the benefit of all.

IFNY’s membership includes every segment of the insurance industry, including insurance companies, brokerages and agencies, law, accounting, consulting and other professional service firms. Our members have in common:

  • A strong interest in the viability of New York as a sound economic environment for the industry;
  • A shared concern for our profession; and
  • A commitment to free enterprise and service.

IFNY’s annual calendar of events brings together the “best and brightest” in our field to ensure that industry intelligence is shared and that support for best practices in insurance business, law and regulation earns the understanding of leaders across the spectrum. The Federation invites its members to attend the Annual Fall Cocktail Reception and our popular “Breakfast With…” programs, featuring distinguished leaders in the insurance industry and regulatory communities. IFNY also sponsors educational seminars in cooperation with the New York City Bar Association’s Committee on Insurance Law, as well as other organizations.

Recently, IFNY has added an exciting new division to our group called the IFNY Emerging Leaders. This division is made up of a diverse group of young professionals from all facets of the insurance and reinsurance industries. Its mission is to engage and develop the next generation of young, talented professionals in the insurance and reinsurance industries by providing members with networking events, mentoring opportunities, educational programs and charitable events planned throughout the year.

Membership in this group provides access to all IFNY events. Finally, IFNY caps off its year with the Annual Luncheon in November, where IFNY honors individuals whose significant achievements have been important to our industry and to the civic good with the Free Enterprise Award and the Public Service Award. The event encourages attendees to reconnect with old acquaintances and make new ones.

IFNY also proudly notes the success of the IFNY Interns summer program. Federation members have given generously of their time and finances to support this program that reaches into the community to afford highly motivated teens from challenging backgrounds an in-depth opportunity to learn about the insurance industry and to consider a career in insurance or one of its allied fields. The IFNY Interns of today will be tomorrow’s industry leaders.

IFNY continues to provide its diverse members with extensive networking and educational opportunities. We hope that you will take advantage of the opportunity to participate in upcoming programs by becoming a member of IFNY. We are convinced that you will appreciate the concrete benefits of membership as a business leader in the New York State insurance industry.


From the President

nick-pearsonFor more than 100 years, the Insurance Federation of New York has been a force for communicating ideas among all sectors of the insurance industry, bringing public and private interests together for the benefit of all. The Insurance Federation of New York’s prestigious Free Enterprise Award—presented to some of history’s legendary entrepreneurs—continues to salute risk takers and leaders whose creativity and initiative has enabled the expansion of business throughout New York, across the country and around the world. In the insurance industry, it is the commitment and vision of these leaders that has created and refined the risk transfer mechanism to spur economic growth and contribute to personal financial security for countless millions. Also, our industry exists to protect the health and welfare of our insureds and those who depend upon them, and this year we proudly introduce a new award, the Public Service Award, to recognize outstanding achievement in the public interest.

Today, the Insurance Federation of New York’s annual calendar of events brings together the “best and brightest” to ensure that industry intelligence is shared and that support for best practices in insurance business, law and regulation earns the understanding of leaders across the spectrum. This shared goal draws business executives, legislators and regulators to our Annual Luncheon, our “Breakfast with…” programs, professional seminars, and other events. Our IFNY Interns Summer Program reaches out into the community and gives highly motivated teens from challenging backgrounds an opportunity to learn about the insurance industry in all its facets and consider a career in insurance. Federation members have given generously of their time and finances to support this program. We also note a new division in the Federation, the IFNY Emerging Leaders. Through its programs younger insurance professionals will have the opportunity to hear from and meet seasoned executives and industry leaders with an eye toward the development of their own careers.

The Insurance Federation of New York is a not-for-profit New York corporation that does not engage in lobbying activities and is open to all.

Pearson sig


**Wednesday, May 22, 2019**

2nd Annual Surplus Lines and Reinsurance Forum

Co-sponsored by ELANY and IFNY
1:30pm to 5:00 pm
Cocktail Reception Follows.

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IFNY Co-Sponsored CLE programs

As the events are scheduled, detailed information will be posted below and can also be found online at check back periodically for updated information.

Programs are held at the Association of the Bar of the City of New York, 42 West 44th Street, New York, New York (between Fifth & Sixth). For more information, IFNY members should contact the City Bar at (212) 382-6600 or log on to

Past Events


   January 29

“Breakfast with Maria T. Vullo “
Superintendent – NYDFS

Co-sponsored with the Insurance Law Committee (ILC) at the New York City Bar Association








(Left) (L-R): Drexel Harris, Chair of the ILC, Supt. Maria T. Vullo; Nick Pearson, IFNY President; and Andrew Balkam, IFNY Emerging Leader Advisory Council Member

(Center) (L-R): Supt. Maria T. Vullo with Tom Workman who is an Independent Member with Insurance Expertise Financial Stability Oversight Council at the U.S. Department of Treasury and former IFNY Board Member, and Nick Pearson, IFNY President

(Right) (L-R): Drexel Harris, Chair of the ILC, opens the meeting. To his left is Supt. Vullo and IFNY President, Nick Pearson



   November 7

“An Evening with…Dame Inga Beale”
CEO, Lloyd’s of London (2014-2018)

Photo: Our Co-Hosts, Saul Ewing Arnstein & Lehr, pose for a photo with Inga Beale in their recently opened New York City Office during the IFNY Emerging Leaders Group Reception on November 7. L-R: Valerie Pennacchio, Associate; Kara Pike, Associate; Laurie Kamaiko, Partner; Inga Beale, Former CEO, Lloyd’s of London; Fred Garrson, Partner; and John Basinger, Partner.

Co-sponsored and hosted by: Saul Ewing, NYC


   October 9

IFNY 2018 Annual Cocktail Reception

Co-sponsored and hosted by: Stroock, NYC


   September 25

“Breakfast with Laura Evangelista, Executive Deputy Superintendent of Insurance, NYDFS







Venue: Union League Club in New York City.

Co-sponsored by: Applied Underwriters, ShelterPoint Life Insurance Company and Guardian Life Insurance Company


   May 16

Surplus Lines and Reinsurance Forum

Venue: Union League Club in New York City.

Co-sponsored by:

  ELANY LogoPrintbakerlogo_newABA




Three panels of distinguished experts, including a Former Commissioners’ Roundtable, discussed hot topics in
Surplus Lines and Reinsurance–where we are today and what to expect tomorrow.




(Left) Surplus Lines and Reinsurance Panel (L-R): Alan Levin, Esq., Partner, Locke Lord LLP; Daniel Maher, Esq., Executive Director, Excess Line Association of New York; Janet Pane, Chairwoman, Excess Line Association of New York and Head of Global Services and Solutions at Willis Towers Watson P.L.C.; and Hank Watkins, President, Lloyd’s North America

(Center) Reinsurance Panel (L-R); Larry Schiffer, Esq., Partner, Squire Patton Boggs (US); Michael McRaith, Former Director of the Federal Insurance Office, US Treasury Department; Tim Ronda – Executive Managing Director, Aon Benfield; and J. Howard Stecker – Executive Director – Insurance Tax, Financial Services, Ernst & Young, LLP

(Right) Former Commissioner’s Panel (L-R): Moderator, Francine L. Semaya, Esq. – Legal and Insurance Regulatory Consultant; James Wrynn, Esq. – Senior Managing Director, FTI Consulting, Inc., and former New York Superintendent of Insurance; and Thomas B. Considine, Esq. – CEO, National Conference of Insurance Legislators (NCOIL), and former New Jersey Banking and Insurance Commissioner

“Most informative event I have been to so far. Can’t wait for the next one! You would be hard pressed
to find a room packed with as much knowledge and influence.”
Joseph Gaglioti Director of Sales at Diversified Risk Solutions LLC


   February 27

“Breakfast with Supt. Maria T. Vullo”

Co-sponsored by:


The Superintendent discussed DFS priorities for 2018, plus
recaped some of 2017’s most noteworthy developments.


Member Events

(Events listed below are not affiliated with IFNY and are listed as a benefit of membership only. For consideration, members in good standing may submit event listings to

Annual Award Luncheon

The Insurance Federation of New York has, for over a century, continued to develop, becoming a leading resource for communicating ideas among all sectors of the insurance industry. IFNY’s prestigious Free Enterprise and Public Service Awards, presented to notable entrepreneurs and public figures every November at the Annual Luncheon, continues to salute captains of private and public institutions whose creativity and initiative enables U.S. businesses to expand. The commitment of these leaders has ensured the growth of the insurance business in New York.

Past Free Enterprise Award Recipients

The list of past recipients includes:

1962 Henry Ford, II
1963 Kenton R. Cravens
1964 George Champion
1965 Frederick Kappel
1966 George Keith Funston
1967 Arthur “Red” H. Motley
1968 Allan Shivers
1969 George A. Spater
1970 John C. Emery
1971 Nathan H. Wentworth
1972 Gilbert W. Fitzhugh
1973 James P. Mcallister
1974 Blake T. Newton, Jr.
1975 Melvin A. Holmes
1976 Osborn Elliott
1977 John T. Fey
1978 Felix G. Rohatyn
1979 Maurice R. Greenberg
1980 B.P. Russell
1981 Rawleigh Warner, Jr.
1982 Ralph S. Saul
1983 Harry B. Helmsley
1984 Malcolm S. Forbes
1985 Robert M. Best
1986 Robert Clements
1987 Lewis Lehrman
1988 Donald J. Trump
1989 J. Peter Grace
1990 Harold E. Sells
1991 J. Carter Bacot
1992 William Wallach
1993 Saul Steinberg
1994 Salvatore Curiale
1995 William J. Flynn
1996 Sanford J. Weill
1997 Dennis Chookaszian
1998 Steven M. Gluckstern
1999 Patrick G. Ryan
2000 Thomas R. Tizzio
2001 Edmund F. Kelly
2002 Constantine Iordanou
2003 Gregory V. Serio
2004 Jay Fishman
2005 Frank J. Coyne
2006 Martin J. Sullivan
2007 James L. Tisch
2008 Brian Duperreault
2009 William Fishlinger
2010 Warren W. Heck
2011 Joseph J. Plumeri
2012 Robert Benmosche
2013 Evan G. Greenberg
2014 J. Hyatt Brown
2015 Donald Kramer
2016 Steven A. Kandarian
2017 Gregory Case
2018 Dame Inga Beale

Public Service Award Recipients

The list of past recipients includes:

2016 Daniel A. Nigro
2017 Michael McRaith
2018 Mary Lanning


Board of Directors



Nick Pearson


Lance J. Albright

Financial Vice President

Richard White

Vice President

Huhnsik Chung

Vice President

Amy L. Feller

Vice President

Michael Fusco

Vice President

Manfred Ohrenstein

Vice President

David J. Walsh

Vice President, Managing Director

Steve Acunto

Directors Emeritus

Stephen Boon, Jr.

Michael E. Curan

Salvatore Curiale

Joseph P. Decaminada*

Patrick J. Foley*

Donald D. Gabay

Wallace Gardner, Jr.

Richard Greenwald*

Joseph E. Johnson*

Arnold Kideckel*

Sol Kroll*

Virginia McMullen

Hon. Edward J. Muhl

Cecilia Norat



IFNY Emerging Leaders is a division of the Insurance Federation of New York (“IFNY”) created to bring together a diverse group of young professionals from all facets of the insurance and reinsurance industries.  Our mission is to engage and develop the next generation of young, talented professionals. IFNY chartered the IFNY Emerging Leaders to keep up with the demands of a growing New York insurance market and its changing demographics.

Since 1913, IFNY has been recognized as a premier insurance industry organization for its continued efforts to establish New York as the world’s foremost insurance market while promoting free enterprise and service.  This platform provides IFNY Emerging Leaders’ members with extensive resources and unparalleled opportunities to network with and learn from senior company executives, state and federal regulators, key legislators, industry experts and other industry professionals.  IFNY Emerging Leaders provides its members with networking events, mentoring opportunities, educational programs and charitable events planned throughout the year. In addition, IFNY Emerging Leaders’ members will have the opportunity to attend events hosted by IFNY, which include recurring “Breakfast With…” programs, the Annual Fall Cocktail Reception and the Annual Award Luncheon.

We welcome all young professionals interested in insurance and reinsurance matters to become involved. Whether you are an insurance or reinsurance company employee, agent, broker, intermediary, regulator or attorney, or simply wish to become active in our industry and further your own career, we welcome anyone who has the desire to be part of our community to join and to take full advantage of all that IFNY Emerging Leaders has to offer.

Emerging Leaders Advisory Council (in alpha order):

Andrew C. BalkamCanny Capital

Denise CampbellAIG

Marc HaasRobinson & Cole LLP

Zachary LernerLocke Lord LLP

Kelly NickersonFTI Consulting

Nicholas SecaraAscot Group Limited

Edward D. Steinborn, CPCU – Aon Risk Solutions

Valerie G. Pennacchio – Saul Ewing Arnstein & Lehr LLP

Winnie Y. ZhangStarr Insurance Holdings, Inc.


To join, click here.

For additional information, please contact Gina Marie Balog-Sartario at or at 914.966.3180, x113.


After many requests over the years and much discussion among Board members, last year IFNY decided to allow sponsorship of events. This has enabled sponsors to link their brand to our events, sustaining our core mission of service to the industry.
The initial response has been overwhelming and we would like to thank the companies that signed up as Silver, Gold or Platinum level sponsors to support our mission and goals: CHUBBMetLifeLICONYAmalgamated Life Insurance Company and Baker Tilly. In addition, FTI Consulting, ShelterPoint Insurance CompanyBDO, AXA and ELANY, took advantage of the program by sponsoring specific events that included a “Breakfast With…” program, “An Evening With…” program, and a networking event hosted by the IFNY Emerging Leaders division. The success of this program has increased member benefits, enabling us to offer a CLE program and more free member events and it has also showed us ways we can expand the sponsorship programs to include levels ideal for all budgets and marketing efforts in a cost effective way, with as few “frills” as possible.
Why Sponsor?
Sponsorship provides a great means of broadening a company’s competitive edge by improving image, prestige and credibility through events that your target market finds attractive. Over the last several years, corporate sponsorship has become the fastest growing type of marketing in the United States. Sponsorship’s help companies with their public profile relatively cheaply by enhancing visibility and image. Additional benefits include developing closer and better relationships with customers – both existing and potential ones – showcasing services and products and, when strategic, the effort can boost both short-term and long-term sales.
IFNY, in its 104th year, has earned broad-based distinction as one of New York’s insurance industry’s most widely respected organizations, communicating ideas among all sectors of the industry and bringing public and private interests together for the benefit of all. The Federation’s reputation provides sponsoring companies with a platform and association that enhances their product and corporate image.

2018-2019 Platinum Sponsors:


2018-2019 Gold Sponsor:


2018-2019 Silver Sponsor:

Event Sponsors – 2018:






Guardian Logo

To view the opportunities available, please download the information sheet by clicking here. If you require additional information, please contact Gina Marie Balog-Sartario at 914.966.3180 x113 or via email at

We thank you for your support.

IFNY Interns is a summer program that introduces deserving, high-performing local high school students, from disadvantaged family circumstances, to the New York insurance and financial services sector. The insurance industry and the professional firms that serve it are major providers of skilled jobs and rewarding careers in New York. Exposure to our industry through participation in IFNY Interns offers a strong and timely incentive to these young New Yorkers to pursue their dreams. The program runs each summer from late July through the middle of August.

For more information, click here to download the full description and details about the program.

L-R: Jordan Hawthorne, Intern ‘18; Stephan Pemberton, Intern ‘14 and ‘15, and Peer Mentor ‘18; Kelvin Monje, Intern ‘18; Emmanuel Sweeney, Intern ‘18; Malique Williams, Intern ‘18; Kevyn Duran, Intern ‘18; Trevon Oliver, Intern ‘18

2017 Interns


IFNY Interns 2016

L-R: Precious Blanding, Jean Derosier, Atira Meade, Lashawnda Wilson, Tatsuya Rivera.   Missing from this photo is Romaris Moquette.  All were ages 15-17 last Summer, all are scholars in the Boys Hope Girls Hope program in Brooklyn.

IFNY Interns 2016

(L-R) Mary Lanning, YES!Solutions Chief Executive; Tamika Andre; Samantha Metellus; Alan Rodriguez; Christian Torres; Jeremy Diaz; and IFNY President, Nick Pearson


(L-R) Front Row: Carmen Alarco, YES! Photographer; Mary Lanning, YES!Solutions Chief Executive; Travis Allen, Intern; Christine Mitchell (kneeling), Intern; Lusmer Quintana, Intern; Adrian Roque-Silvas, Intern. Middle Row:  Austin Joseph, Intern; Fatou Sane, Intern; Elijah Lashley, YES! Associate (former IFNY Intern); Michael Roman, YES! Peer Mentor; Dana Cook, YES! Peer Mentor; Will Torres, YES! Peer Mentor


L-R: Stephan Pemberton, Glody Omasombo, Admir Djesevic, Teanna Holmes, Elijah Lashley and Shanika Foster. Mary Lanning of Yes!Solutions, Inc. at the podium.



Michael Miller Sworn in as President of the New York State Bar Association, Announces Priorities

Michael Miller, the 121st president of the New York State Bar Association, is sworn in by NYS Chief Judge Janet DiFiore, as his wife Cindy looks on.

Michael Miller, the 121st president of the New York State Bar Association, is sworn in by NYS Chief Judge Janet DiFiore, as his wife Cindy looks on.

Michael Miller of New York City (Law Office of Michael Miller) has become the 121st president of the New York State Bar Association (NYSBA).

Miller was sworn in at a ceremony June 4 in New York City with NYS Chief Judge Janet DiFiore administering the oath. Some 160 distinguished members of the judiciary and bar were in attendance, along with other colleagues, family and friends.

After being sworn in, Miller announced the Association’s priorities for the coming year.

“Our emphasis will be on a broad range of topics relevant to the effective administration of justice in the 21st century,” said Miller. “We will focus on important criminal justice issues; explore the criteria and best practices for screening candidates for election to judicial office; discuss important law practice management matters; and address America’s scourge of mass shootings, assault weapons and related legal issues.”

To accomplish these goals, Miller has formed numerous task forces and working groups including:

  • Rapid Response Advisory Group to respond quickly and effectively when judges are unfairly attacked or other matters that require prompt response during the 24-hour news cycle.
  • Task Force on the Evaluation of Candidates for Election to Judicial Office to propose best practice guidelines and make recommendations to assist local bar associations, good government groups and others in developing new effective non-partisan judicial evaluation efforts and improve existing ones.
  • A newly empaneled Task Force on Wrongful Convictions to update NYSBA’s groundbreaking 2009 report and make affirmative recommendations based upon new developments to reduce the likelihood of wrongful convictions.
  • Task Force on Incarceration Release Planning and Programs to investigate and recommend state and national policy changes and best practices in order to help better prepare those released from incarceration to re-enter the community and reduce the rate of recidivism.
  • Task Force on Mass Shootings and Assault Weapons to consider the connection between mental health and mass shootings, the relationship between domestic violence and mass shootings, whether assault weapons belong in civilian hands and will make appropriate recommendations.

Other endeavors include a task force that will review best practices for the use of paralegals in the context of the modern 21st century law office and a working group to explore ways to help those in Puerto Rico still devastated by last year’s Hurricane Maria.


Professional Background

Miller has been a solo practitioner for more than 30 years in Manhattan, with a general civil practice focusing primarily on estate and trust work, including planning, administration and litigation.

Prior to becoming NYSBA President, Miller spent the previous year as president-elect and chair of the House of Delegates. He has also served on the Executive Committee as vice-president of the First Judicial District.

Miller is a past president of the New York County Lawyers Association, a past chair of the NYS Conference of Bar Leaders (NYSCBL), and has been a member of the House of Delegates of both NYSBA and the American Bar Association (ABA).

Last year, Miller served as co-chair of the President’s Committee on Access to Justice. Among many other NYSBA activities, Miller was a founding member of the Elder Law Section, serving as its first newsletter editor, executive committee member and chair of several committees.

Over the years, Miller developed award-winning pro bono programs recognized by NYSBA, NYSCBL and the ABA. Among his many awards, Miller received the ABA’s Pro Bono Publico Award, its highest award for pro bono service, for his leading role in the legal relief efforts in the aftermath of the 9/11 attacks.

In addition to his bar activities, Miller served as an election supervisor in war-torn Bosnia and interviewed Kosovo refugees for evidence of war crimes.

Miller is a graduate of New York University and New York Law School.

“This is the greatest honor of my professional life,” said Miller.  “Words are inadequate to fully express how very deeply honored I am to serve as the president of the New York State Bar Association.”

Miller, who will serve a one-year term as president, succeeds Sharon Stern Gerstman of Buffalo (Magavern Magavern Grimm). Henry M. “Hank” Greenberg of Albany (Greenberg Traurig) is president-elect.


About the New York State Bar Association

The New York State Bar Association is the largest voluntary state bar association in the nation. Since 1876, the Association has helped shape the development of law, educated and informed the legal profession and the public, and championed the rights of New Yorkers through advocacy and guidance in our communities.

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President Donald J. Trump Announces Intent to Nominate Personnel to Key Administration Posts

President Donald J. Trump today announced his intent to nominate the following individuals to key positions in his Administration:

Marvin Goodfriend of Pennsylvania to be a Member of the Board of Governors of the Federal Reserve System for the remainder of a 14-year term expiring 1/31/30.  Mr. Goodfriend is the Friends of Allan Meltzer Professor of Economics at Carnegie Mellon University’s Tepper School of Business.  He worked for the Federal Reserve Bank of Richmond 1978-2005 where he was director of research and policy advisor from 1993-2005.  He served as visiting economist at the Federal Reserve Board 1982-3, senior staff economist for President Reagan’s Council of Economic Advisors 1984-5, and visiting professor at the University of Chicago 1988-1990.  He has evaluated research and policy advice at the invitation of numerous European central banks.  He is an honorary advisor at the Bank of Japan, served on the Federal Reserve Bank of New York’s Economic Advisory and Monetary Policy Panels, is a member of the Shadow Open Market Committee, and a research associate of the National Bureau of Economic Research.

Thomas E. Workman of New York to be a Member of the Financial Stability Oversight Council for a term of six years.  Mr. Workman served as President & CEO of the Life Insurance Council of New York, Inc. from 1999 to 2016, representing 73 life insurers and 22 law, actuarial, and accounting firms.  From 1973 to 1999, Mr. Workman practiced law with Bricker & Eckler LLP in Columbus, Ohio.  He chaired the Insurance Law Practice Group and was Legislative Counsel to the Association of Ohio Life Insurance Companies.  Mr. Workman has served on various boards, including the Ohio Farmers Insurance Company, the Federation of Regulatory Counsel, the Insurance Federation of New York, and on the Leadership Council of the Griffith Foundation for Insurance Education.  The Association of Life Insurance Counsel awarded him the Buist M. Anderson Award for Distinguished Service.  From 1970 to 1973, he was a Captain in the U.S. Army J.A.G. Corps.  He received his B.S. and J.D. from The Ohio State University

Jeffrey DeWit of Arizona to be Chief Financial Officer at the National Aeronautics and Space Administration.  Mr. DeWit is currently the elected State Treasurer of Arizona and serves as Chairman of the Arizona State Board of Investments.  As Arizona’s chief banker and investment officer, Treasurer DeWit oversees a nearly $14 billion investment portfolio of state, local and trust assets and handles over $30 Billion a year in state transactions. Prior to assuming office in January 2015, he was CEO of ECHOtrade, a firm he started in 1999 and grew to more than 500 licensed professional traders worldwide. Previously he was a market maker on the exchange floor in financial futures contracts as a full member of the Chicago Board of Trade and the CME in Chicago.  Treasurer DeWit began his nearly 25-year finance career at Smith Barney in 1992. In 2016 he served as the Chief Operating Officer and Chief Financial Officer of the Donald J Trump for President campaign. He has an MBA from the University of Arizona and a BS in Business Administration with concentrations in Finance and Marketing from the University of Southern California (USC). He is also a National Association of Corporate Directors (NACD) Board Leadership Fellow. He is married to Marina and has three daughters, Delaney, Katie, and Jamie.

Related related WSJ article:

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Press Release – July 13, 2017

Supt. Vullo Announces the Approval of New Banking Development Districts in Bronx and Brooklyn to Expand Access to Financial Services to Underserved New York Communities

Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has approved two new Banking Development Districts (BDDs): Community District 4, encompassing Concourse Village, East Concourse, Highbridge, Mt. Eden and West Concourse in the Bronx, and portions of Community Districts 2, 3 and 8, comprising parts of Clinton Hill and Prospect Heights in Brooklyn.  The approved districts, involving two state-chartered banks, Spring Bank and Ridgewood Savings Bank, will result in the expansion of access to retail banking services and products for unbanked and underbanked consumers, as well as small businesses, in the Bronx and Brooklyn.  Brooklyn Borough President Eric L. Adams and Bronx Borough President Ruben Diaz Jr. and were co-applicants with Ridgewood Savings Bank in Brooklyn and Spring Bank in the Bronx for the new BDDs.

“Expanding access to banking services in underserved communities is a priority, and I am pleased that these two state-chartered banks have agreed to provide such important services to consumers and small businesses in low- and moderate-income neighborhoods,” said Financial Services Superintendent Maria T. Vullo.  “New Yorkers in underserved communities often have no choice but to turn to alternative, and sometimes illegal, financial services providers such as payday lenders.  DFS will continue to protect all New Yorkers, and remains committed to fostering appropriate resources to help them meet their financial services needs.”

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Press Release – July 6, 2017

DFS Launches Online Re-Licensing for Agents / Brokers Seeking to Return to Insurance Business in NY

Automated Service Will Enable Next Business Day Turnaround for Issuing New Licenses to Qualified Applicants

Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has launched a new online application process to speed the re-licensing of agents and brokers whose original licenses have been expired for more than two years. The online re-licensing process is available to property/casualty and life and/or accident/health agents and brokers, as well as life and general consultants and life settlement brokers.

“DFS continues to implement and leverage technology to better serve the Department’s regulated persons and the New Yorkers they serve,” Superintendent Vullo said. “The DFS re-licensing process is now significantly more efficient compared to the old paper-based system. DFS will continue to modernize its processes to better serve consumers across New York State.”

The next business day turnaround applies to applicants with no disqualifying conditions, such as disciplinary actions in other states. Applicants will be required to attest to the completion of pre-qualifying courses and furnish course numbers. Lapses in individual licenses may occur for various reasons, such as the result of career changes or for personal reasons. More than 1,200 agents and brokers were re-licensed in 2016.

New York residents seeking re-licensing must have completed a re-licensing exam within the last two years or hold another license with the same lines of authority being applied for in the re-licensing application. Non-residents must be in good standing and currently licensed in their declared home state with the same lines of authority being applied for in their New York re-licensing application. Licenses, which will no longer be mailed upon issuance, can now be printed by licensees through the online system.

The re-licensing of individuals whose licensing expired is one of a number of licensing transactions which may be accomplished using the DFS website. Other online licensee transactions include, but are not limited to, filing an original application to act as an individual agent or broker, renewing an individual license, or changing individual licensee address information.

Additional information, as well as a link to the re-licensing application, can be found at the location on the DFS website,

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