Monthly Archives: August 2022

Big I NY Submits Comments on Draft Cyber Regulation Amendments

​This week, Big I NY submitted commen​ts on the DFS' pre-proposed draft amendments to the Cyber Regulation. You can read more about the draft amendments in an earlier post here.​In our comments, we recommended changes to the amendments that would help alleviate new burdens on producers, while still ensuring non-public information (NPI) is protected.Some of the key points include:Expanding the revenue threshold of the limited exemption to correspond with the proposed higher thresholds for employee count and assets, and clarifying that only independent contractors with access to NPI be counted towards the employee count.Expanding the total exemption for inactive licensees to include brokers in addition…

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Insurers, Get Your Act Together on Commercial Lines Renewals

​[The following is an updated version of a post from 2014. Unfortunately, the message is still very relevant in 2022.]I turned 61 last month. (Insert jokes about old age here.) A few weeks before I turned 25, way back during the Ronald Reagan years, the New York State Legislature passed and Gov. Mario M. Cuomo signed a bill into law, formally known as Chapter 220 of the Laws of 1986. It slapped new requirements on insurers​ that wanted to cancel or non-renew commercial insurance policies or make major changes to them. No longer could insurers double a business’s premium or exclude important coverage with no advance…

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Introducing CNA Surety, Available Through IMS Access

It took months to land that important account.  You followed up with responsive service and valued insurance products.  Now, this key customer just requested a surety bond. And...they need the bond by tomorrow.  Why take the risk of referring this hard won client to a competing agent?           You now have access to a surety provider with capacity, experience and the right tools to meet your client's surety and fidelity bond needs. CNA Surety is known for its expert underwriting, solid financial strength, market leadership and creative solutions to all bonding requirements. The CNA Surety group of companies ranks as one of the…

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