Ask Tim; Cyber

Abstract: The new tool helps agencies that qualify for the limited exemption identify the requirements that apply to them. It also informs the agency as to which filing it must submit before the April 15 deadline. Body: ​ We are pleased to announce the creation of another new resource to help inde​pendent insurance agencies comply with the New York financial services cybersecurity regulation. The new tool helps agencies that qualify for the limited exemption identify the requirements that apply to them. It also informs the agency as to which filing it must submit ​​before the April 15 deadline. Section 500.17(b) of the regulation requires all "covered…

Abstract: You now have one-stop access to information about the cybersecurity practices of large publicly traded insurance carrier groups. Body: Big I New York has unveiled a new resource to help agencies comply with part of the New York financial servi​ces cybersecurity regulation. Specifically, it will make it easier for you to comply with the requirements regarding third-party service providers. You now have one-stop access to information about the cybersecurity practices of large publicly traded insurance carrier groups.The regulation's Section 500.11 requires all covered entities, including insurance agencies and brokers of any size, to “implement written policies and procedures designed to ensure the security of…

Abstract: Sometime between now and April 15, each agency must log into the NYS Department of Financial Services (DFS) cyber portal and complete and submit one of two forms. Body: ​January 2025 has brought with it fresh batches of lake effect snow and a new cybersecurity regulation compliance filing season. Sometime between now and April 15, each agency must log into the NYS Department of Financial Services (DFS) cyber portal and complete and submit one of two forms:Certification of Material Compliance (if the agency was in material compliance with all sections of the regulation that applied to it in 2024.)Acknowledgement of Non-Compliance (if the agency…