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Welcome to the Life Insurance Council of New York
We are proud to be the principal voice of the life insurance industry in New York.
The Life Insurance Council of New York (LICONY) works to create and maintain a legislative and regulatory environment that encourages its members to conduct and grow their life insurance businesses here in New York State. We have 55 domestic and 21 nondomestic member companies that together provide the vast majority of life, disability, and long term care insurance and annuity benefits to New Yorkers. In addition, LICONY has 22 allied, professional firm members that provide professional or business services to life insurance companies or fraternal benefit societies.
Our strength in representing the life insurance industry operating in New York derives directly from the support, contributions, and leadership of our members. What unites LICONY is the common commitment to building a more efficient, productive, and profitable business environment to better serve both the life insurance industry and its customers.
The Benefits of Membership
New York, the hub of the nation's financial industry, can be a challenging place to run a life insurance business. The state's laws and regulations are complex and the political environment changes quickly.
LICONY is the collective voice for the industry. We are a highly reputable trade organization that is widely recognized as an engaged, effective organization. Membership in LICONY offers many benefits, including ensuring your company's voice is heard when important decisions that shape the industry are made in New York.
Issue Spotlight -- Cybersecurity
The New York State Department of Financial Services has proposed new regulations relating to cybersecurity. On December 28, 2016 the Department submitted amended regulations that LICONY is now reviewing.
LICONY supports efforts to identify a cyber security framework that is risk-based, flexible and scalable and can be implemented uniformly on a national basis, with flexibility reflected in the standards adopted by each insurer.