Monthly Archives: April 2021

3, 2, 1 With Sue Keegan: Catalyit, handwritten notes, & your work-from-home uniform

​3 ThingsRead this new blog post from Tim regarding “Lessons From Recent DFS Cybersecurity Enforcement Actions”.Learn about CATALYIT – All the agency tech guidance you need … in one place !Get your nomination in now​ for an agent under age 40 who has displayed outstanding commitment to their clients, their agency and their industry.2 IdeasRegister now for our 2021 E&O Loss Control Seminar.  There will be some acting of the highest quality by some of your friends at Big I NY – you don’t want to miss this.Ditch an email for a hand-written note.  This idea came to me from Jim Petrie at Haylor, Freyer…

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Industry Roundup: April 15th

​Highly Digital Agencies Grow 60% Faster Than the Competition​​​A recent survey of nearly 600 U.S.-based independent agents from Liberty Mutual and Safeco Insurance sought to understand how independent insurance agencies are evolving to meet new expectations. The results, published in the “Rise of the Digital Insurance Agency" report, found that digitally-savvy agencies grow an average of 60% more than their less digital counterparts. See marketing materials from Trusted Choice here.Commercial P&C ​​Insurance Rates Continue Upward Trajectory​During the first quarter of 2021, commercial property & casualty rates saw an overall gain of 7%, according to MarketScout Corp., which reported umbrella, professional liability and D&O all saw double-digit…

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Lessons From Recent DFS Cybersecurity Enforcement Actions

​Today is April 15, the date by which all entities regulated by the New York State Department of Financial Services must submit a statement to the department, certifying that they complied with the state's financial services cybersecurity requirements regulation​ last year. It is therefore fitting that I'm writing about two enforcement actions the department recently announced. They give some clues as to the approach the department is taking toward enforcing the regulation.Neither action involved an insurance agency or brokerage:Two very different organizations with millions of dollars in assets. Their day-to-day operations are far removed from those of the typical Big I New York member who has…

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