anjaliharris

DFS Proposes Hurricane Deductible Trigger Regulation

The New York State Department of Financial Services (DFS) has formally proposed an amended regulation on hurricane deductible triggers. The department is accepting comments from the public until July 7th. The…

Aerial view of a hurricane

NY High Court Lowers Bar To Suing Over Dog Bites

It will be easier for victims of dog bites to hold pet owners liable thanks to a ruling last month from New York’s highest court. The Court of Appeals unanimously overturned…

Labrador retriever holding a stick in its mouth

Big I NY Single Producer License Bill Introduced

Big I New York’s bill to create a single insurance producer’s license has been introduced in the New York State Assembly. Assemblymember Pamela J. Hunter (D-128th District) introduced Assembly Bill 8065 in that…

United States Senate Chamber at the U.S. Capitol

Can a Carrier Reject a Client-Signed LPR?

Question from an agent: “We recently had an issue with a carrier not accepting a signed lost policy release (LPR) cancellation request we sent them. My customer service representative (CSR) called them,…

Max Weekly NY WC Benefit Rising in July

​The New York State Workers’ Compensation Board has announced that maximum weekly disability benefit will increase to $1,222.42​. By law, the board adjusts the maximum weekly benefit each year, effective July 1st. The current…

Worker's compensation claim form

ACORD Updates Commercial Lines Application Forms

​Insurance industry standards setting organization ACORD has announced new editions of two commonly used application forms for commercial insurance. Agencies should start using the new editions immediately.  Forms ACORD 125…

Woman filling out form

New: Cyber Reg FAQ Document

​We are happy to announce a new resource to help you comply with New York’s financial services cybersecurity regulation – a “frequently asked questions” document.  The seven-page file​ provides answers to some…

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New Cybersecurity Reg Compliance Tool – Asset Inventory Workbook

As we mentioned last week, the New York financial services cybersecurity regulation requires all covered entities (including all insurance agencies) to create and maintain an inventory of their information system assets. Entities have until Nov.…

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