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Action requiredNew York Department of Financial ServicesNYJul 18, 2026

Insurance Circular Letter No. 4, Limitations on Expenses for Life Insurance and Annuity Business

On July 8, 2026, New York DFS issued Insurance Circular Letter No. 4 on limitations on expenses for life insurance and annuity business.

On July 8, 2026, New York DFS issued Insurance Circular Letter No. 4 on limitations on expenses for life insurance and annuity business. The letter was directed to authorized life insurers, fraternal benefit societies, and licensed life insurance agents and brokers.

What changed

DFS issued an insurance circular letter addressing expense limitations in life insurance and annuity business.

Compliance perspective

Insurance entities and producers subject to the letter should review compensation, expense allocation, and filing support processes to confirm alignment with DFS expectations.

Key date

Effective date: July 8, 2026.

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