Legislative Update: Uncertainty in Albany
What you need to know: The state legislature is anticipated to reconvene throughout the year, rather than adjourning in mid-June as is typical The legislature’s focus will be COVID-19, with many issues likely to affect IAs and policyholders We don’t yet know to what extent other issues will be considered. These are truly uncharted waters. Since mid-March, New York’s policy response to COVID-19 has been spearheaded by the state’s executive branch, through executive orders and emergency regulations. Until last week, the legislature was largely out of the picture.That changed on May 23rd, when Senate and Assembly leaders announced they would resume work virtually, beginning with…