NY Reg 187
The New York State Department of Financial Services (NY DFS) has released the final version of best-interest Regulation 187. Regulation 187 requires producers and insurers to implement a process that ensures they’re acting in the consumer’s best interest when recommending life insurance policies issued in New York. This regulation is effective as of February 1st, 2020 for life insurance. Below are notices and requirements for each individual carrier that sells life insurance in New York.