Ask Tim

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,…

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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DFS Floats Hurricane Deductible Trigger Regulation

The New York State Department of Financial Services (DFS) has posted a draft of an amended regulation on hurricane deductible triggers. The department has invited interested parties to share their initial…

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Enhanced Cybersecurity Requirements Coming May 1st

All New York regulated financial services companies, including insurance agencies, must implement additional cybersecurity procedures by May 1st. These requirements are part of the 2023 amendments the New York State Department of Financial Services (DFS)…

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ACORD Amends NY SSL Declination Form

​Insurance industry standards-setting organization ACORD ​has announced it has revised a form used with New York personal auto insurance applications. Form ACORD 65 NY (2025/03), New York Auto Supplement – Spousal Liability Insurance Declination Form, is…

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