State Fund, OCM Announce Partnership To Help New Cannabis Businesses Get Workers Comp Coverage

​Used under under the Creative Commons Attribution-Share Alike 4.0 International license​.​The New York State Office of Cannabis Management (OCM) has announced a campaign, led by the New York State Insurance Fund (NYSIF) to help newly-licensed cannabis businesses in the state obtain required insurance. NYSIF will lead the effort to help these businesses obtain Workers' Compensation, New York State Disability Law (DBL) and Paid Family Leave (PFL) insurance.According to a news release on the NYSIF website:"Eligible applicants can apply under the qualifying business or qualifying non-profit track. Prospective Qualifying Business applicants must: Have a conviction for a marijuana-related offense that occurred prior to the passage of the Marijuana Regulation…

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What’s in a Name? How To Change the Name on Your NY License

​It doesn't happen often, but occasionally a New York licensed insurance agent or broker changes their name and needs to show that on their license. Subsection (f) of Section 2102 of the New York Insurance law requires a "licensee" to notify the state Department of Financial Services "upon changing his, her or its legal name."Probably the most common reason for this is when a woman marries and assumes her husband's last name. The reverse may also occur - a marriage ends and the former wife wants to become known under her maiden name. And some folks just like to change names every few years.Whaever the…

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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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