NYS DFS Promulgates CE Law Changes.

• Position: [IN THE NEWS]

* I, Adrienne A. Harris, Acting Superintendent of Financial Services, pursuant to the authority granted by Sections 202 and 302 of the Financial Services Law and Sections 301, 2108(r), and 2132 of the Insurance Law, do hereby promulgate the following Sixth Amendment to Part 20 of Title 11 of the Official Compilation of Codes, Rules and Regulations of the State of New York (Insurance Regulations 9, 18, and 29), to take effect 30 days after the publication of the Notice of Adoption in the State Register, to read as follows:

(ALL MATERIAL IS NEW)

A new section 20.7 is added as follows:

[section] 20.7 Continuing education requirements.

(a) For purposes of this section: (l)Diversity, inclusion, and elimination of bias instruction means courses or programs of instruction and seminars related to being a licensee that include implicit and explicit bias; equal access to justice; serving a diverse population; diversity and inclusion initiatives in the insurance industry; and sensitivity to cultural and other differences when interacting with clients, potential clients, or other members of the public.

(2)Enhanced flood insurance instruction means courses or programs of instruction and seminars related to being a licensee and the sale of flood insurance through the NFIP that include instruction on NFIP coverage, limits, and rates, including coverage for dwellings in urban environments; annual updates to the NFIP; measures to improve flood insurance affordability; the impact of climate change on flood risk and the NFIP; and the NFIP claims process, including the role of adjusters. Enhanced flood insurance instruction shall not include the minimum training requirements of section 207 of the Flood Insurance Reform Act of 2004 or basic flood education as outlined or published by the Federal Emergency Management Agency.

(3)Ethics and professionalism instruction means courses or programs of instruction and seminars related to a licensee that includes a licensee's professional obligations to clients and potential clients; the sources of a licensee's professional obligations, such as the Insurance Law and regulations promulgated thereunder and court decisions; recognition and resolution of ethical dilemmas; the mechanisms for enforcing professional norms; substance abuse control; and professional values, such as professional development, improving the profession, and the promotion of...