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NYSIF to Accept Big I Third Party Questionnaire for Cybersecurity Due Diligence

We are pleased to announce that Big I NY and the New York State Insurance Fund (NYSIF) have collaborated to make the third party due diligence process required by New York’s cyber regulation as simple and effective as possible. It is anticipated that NYSIF will accept the completed questionnaire as sufficient to satisfy due diligence on an agent in majority of situations. They may request additional information from agents in cases where they deem it necessary. Additionally, NYSIF will complete the questionnaire for itself and make it available to assist agents in conducting their own due diligence.  We would like to thank NYSIF for soliciting…

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NYSDFS Proposes Extending Time For Carriers To File TNC Endorsements

Body: ​The New York State Department of Financial Services today proposed a six-month extension to a special coverage arrangement for vehicles used by drivers for transportation network companies (TNCs) such as Uber and Lyft. The proposal was published in the Octobe​r 3, 2018 issue of New York State Register, the publication for all rule making activities by state agencies.When the New York State Legislature and Gov. Andrew Cuomo enacted the law in 2017 to legalize TNC operations, the DFS issued regulations to address the insurance requirements. One of those regulations stated that, until Jan. 1, 2019, auto liability coverage under group policies issued to the…

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