Found this on the State of New York Insurance Department Website, it looks like they are categorizing viaticals and life settlements on a different level. We will see if thier new regulation proposals will have an effect on this.

In order to work as a viatical settlement broker in New York, one must comply with Article 78 of the Insurance Law, which includes a licensing requirement at Insurance Law § 7801(d). See OGC Opinions dated March 17, 2004; November 14, 2001; and April 21, 1999.

Because brokering a sale of individual life insurance contracts by owners to third parties does not meet the statutory definition of viatical settlements, life settlement brokers currently require no license in New York. However, if proposed life settlements legislation is enacted and signed into law, a license would be required.

More info will come, in the mean time keep checking back at:
New York Life Settlement
New Jersey Life Settlement