Blog

DFS Warns Against Microsoft Exchange Security Holes

​The New York State Department of Financial Services (DFS) has warned all entities it regulates about newly discovered security vulnerabilities in the Microsoft Exchange Server software. The department advised all entities to take immediate actions to address the problem. The DFS regulates banking, financial services, and insurance organizations doing business in New York. If your agency is running this software, you may be at risk of having suffered a data breach already or of having one in the future. Agencies that use a cloud-based hosting service for email should not be affected.In a letter dated March 9, the department relayed Microsoft's report that it had found four…

Continue ReadingDFS Warns Against Microsoft Exchange Security Holes

Big I NY Urges Lawmakers to Reject Single Payer Health Care

​Today, members of the New York legislature reintroduced the New York Health Act and called for its passage as early as this spring. The Realities of Single Payer Coalition, of which Big I NY is a member, pushed back strongly on the proposal to create a single payer health care system in NY. "The New York Health Act would destroy the existing insurance market and hurt consumers by removing their ability to choose the best healthcare for their needs. Independent insurance agents and brokers are committed to helping New Yorkers protect what matters most. We believe consumers are best served by a competitive market rather than…

Continue ReadingBig I NY Urges Lawmakers to Reject Single Payer Health Care

Watch Live: Big I NY Argues Against “Best Interest” Regulation

On Wednesday, March 10th, counsel for Big I NY will present oral arguments in our ongoing legal challenge to the first amendment to Insurance Regulation 187​. The regulation, which imposes a vague and burdensome “best interest" standard for the sale of life insurance and annuities, fundamentally alters the duty of an insurance producer to the customer and threatens to harm consumers by reducing the availability of affordable coverage. The oral arguments are the final step before a ruling on our appeal.In 2018, Big I NY sued the Department of Financial Services, over the amended regulation alleging that: the DFS overstepped its authority; violated the State Administrative…

Continue ReadingWatch Live: Big I NY Argues Against “Best Interest” Regulation