The New York State Department of Financial Services (DFS) this week unveiled a new model Cybersecurity Program Template for use by small businesses, including insurance agencies. All independent insurance agencies should consider…
It’s been a while since I added to my list of examples of subtle but possibly significant differences between insurance policies of the same type issued by different insurers. This…
Question from a Big I NY member: “We had an insured who called yesterday to add her boyfriend/domestic partner to her homeowners policy as a named insured. My first reaction…
The latest insurance disciplinary action report from the New York State Department of Financial Services is out. As usual, it contains interesting information about what DFS is focusing its enforcement efforts on.…
A magnitude 4.8 earthquake centered west of Manhattan struck the northeastern U.S. this morning. We at Big I New York hope that all of you, your families, friends, and clients are safe…
The DFS-regulated entities in the banking, financial services, and insurance sectors must complete the compliance filings that the financial services cybersecurity regulation requires by April 15th. This year, they will…
For those who may have missed it, the property casualty insurance markets are in a very hard market cycle. During a hard market, insurance carriers hike premiums, cancel and non-renew…
Question: “I have a New York Property-Casualty Agent’s (PC) license. What do I have to do to obtain a New York Property-Casualty Broker’s (BR) license?” Answer: The holder of a…
Personal Lines How much notice does a carrier have to give to non-renew a homeowners’ or personal auto policy?At least 45 days but no more than 60. How much notice…
Question: “Regarding a commercial auto policy, your handout said, “It is true that business auto insurance policies insure businesses, but they also insure individual people using the business’s vehicles with…
