Yearly Archives: 2020

On Our Mind…CE for Your Agency

​​​By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & DevelopmentMy wife just reminded me that back in March when I started working remotely, I boldly predicted I would be back at the office by mid-May, well……….As we stare straight at August, all the headlines (well many of them) are talking about kids going back to school and “how" it will all work.  It got me to think about your agency and your staff's needs for continuing education for license renewal as well as those taking certification and designation classes.What are your plans?  How do you implement them?  Have you discussed doing classes as a group…

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DFS Announces First Enforcement Action of NYS Cyber Regulation

​This week, the Department of Financial Services announced the first charges for violations of Reg 500, aka the Cyber Regulation. The Department alleges a laundry list of violations by First American Title Insurance Company, which resulted in the exposure of millions of customer documents.We have long speculated and advised you that DFS will not take violations of the Cyber Regulation lightly. Now, we have a bit more clarity: in this case, DFS holds that each instance of exposed customer information carries up to a $1,000 fine. Need a reason make sure your agency is in compliance? The DFS just gave you a billion reasons.The good news: Big I…

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Albany Update: Legislature Adjourns, Victory on Business Interruption, “Bad Faith” Bills

 What you need to know:The New York State Senate and Assembly have adjourned for the year.Several bills that Big I NY opposed, including business interruption coverage mandates and “bad faith" liability were not passed.The legislature will hold joint hearings on COVID-19 between July 28th and August 25th. ​As of July 24th, the NY Senate and Assembly stand adjourned at the call of the Majority Leader and Speaker​, respectively. Unlike in past years, all bills “on third reading," meaning those that have passed the relevant committee(s) and are eligible for a vote by the full house, remain on third reading. Legislative leaders can call legislators back to session…

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