On Our Mind…Keeping You Informed

By Jim Lombardo, CPCU, AAI, AIM, MBA, AVP of Learning & Development​Hello! This week we will be sharing some updates from the Department of Financial Services to reinforce Big I NY's attempts to keep you informed and up to date with important information. Be sure to check our website out at www.biginy.org for a whole bunch more. Extenstion of ExpirationsThe New York State Department of Financial Services announced that it was extending the expiration of individual insurance agent and broker licenses through July 8. The move grants producers an additional 45 days to renew their licenses.On March 25, the department announced that it was suspending the expiration of producers' licenses for 60…

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Will You Be Welcoming a New Employee?

While new hire season 2020 may look very different than 2019, new employees are still joining agencies every day.  We have connected with many hiring managers and new hires to learn what's different about the onboarding process.  A lot is different especially when agencies' employees are working from home or a smaller staff rotates in-office times.  Below are tips if you are hiring over the next 60 days: 1.  Number One Priority: Have A Plan! This was always a proven strategy but now more than ever.  Map out the first three weeks day by day.  The first impression sets the stage for future expectations.  A…

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Reminder: Cybersecurity Certification of Compliance Due June 1

​This is a reminder that, even with a pandemic going on, insurance agencies and brokerages must file the Certification of Compliance required by New York's cybersecurity regulation for financial services companies. You have until Monday, June 1. In the past, the deadline for filing the certification was Feb. 15. However, in late 2019 the New York State Department of Financial Services announced that it would propose a change to the regulation, moving the deadline to April 15. When the COVID-19 pandemic hit, the department announced that it was giving all financial services companies an extra 45 days to file. The department's website now states that…

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