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Reminder: Cybersecurity Notice of Exemption is NOT Required Each Year
Judging from phone calls and emails we've been receiving, it looks like many Big I New York members are doing work they don't have to do, at least when it comes to New York's cybersecurity requirements for financial services companies regulation. The confusion seems to be around the requirement for individuals and business entities to file notices of exemption with the New York State Department of Financial Services. Therefore, we want to remind you: An agency or brokerage is not required to file a notice of exemption at all after filing the first one in 2019. If the business no longer qualifies for the limited…
ACORD Updates Watercraft Insurance Application
Insurance standards-setting organization ACORD has published an update to its application for Watercraft Insurance. The new edition is for use on and after March 1, 2020 and replaces the March 2016 edition. ACORD said the new form ACORD 82 (2020/03), Watercraft Application, contains updated fraud warnings for the states of Kansas and New York. The New York wording has also been moved to the place immediately above the insured's signature line. Other changes to the form are semantic or related to formatting. Source