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Mar 22

NYSIF to Accept Big I Third Party Questionnaire for Cybersecurity Due Diligence

Scott Hobson on 3/22/2019 10:39 AM

We are pleased to announce that Big I NY and the New York State Insurance Fund (NYSIF) have collaborated to make the third party due diligence process required by New York’s cyber regulation as simple and effective as possible.

NYSIF will conduct periodic due diligence on the cybersecurity practices of its agents. In furtherance of this goal, they will accept a completed Big I NY cybersecurity questionnaire, which is available to members as part of our cybersecurity compliance bundle.

It is anticipated that NYSIF will accept the completed questionnaire as sufficient to satisfy due diligence on an agent in majority of situations. They may request additional information from agents in cases where they deem it necessary. Additionally, NYSIF will complete the questionnaire for itself and make it available to assist agents in conducting their own due diligence.

We would like to thank NYSIF for soliciting input from the independent agent and broker community in developing this process. We applaud their commitment to working together to improve the agent experience while enhancing the security of customer’s private information.

You may submit completed questionnaires through the NYSIF portal.

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Mar 15

Legislative Budget Proposals Released, Troubling "DFS Superpower" Provision Rejected

Scott Hobson on 3/15/2019 9:39 AM

This week, the Senate and Assembly released their “one house" budgets. These are essentially statements of each house's priorities as they head into negotiations. Between now and April 1, legislative leaders and the Governor will negotiate on the final state budget.

While the state budget's primary purpose it to allocate the state's money for the coming fiscal year, it often also incudes significant policy proposals.

A proposal in the governor's budget would have given the DFS Superintendent the “highest deference" in the regulation of insurance and his or her interpretations of the insurance law. Fortunately, this troubling proposal, which Big I NY opposed, was dropped in both the Senate and Assembly proposals. This is a strong indication that it is likely to be negotiated out of the final budget.

No other issues significantly impacting the independent agent community were included in the one-house budgets. We continue to monitor the budget process throughout negotiations.

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Mar 14

Two Minutes With Tim - Cybersecurity Regulation - 3rd Party Questionnaire

Timothy Dodge on 3/14/2019 1:57 PM

I attempt to clear up some misunderstandings about the "due diligence" requirement when it comes to third party service providers.

Two Minutes With Tim: NYS Cybersecurity Regulation (TPSP Questionnaire) from Big I New York on Vimeo.

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Mar 13

Schedule for 2019 Legislative Update Calls Announced

Scott Hobson on 3/13/2019 3:16 PM

Legislative session is in full swing – want to stay up to date on bills and regulations impacting independent agents and learn ways you can get involved? This is your opportunity!

From March 22nd until June 28th, Big I NY will host a call every other Friday from 10:00am to 10:30am (except April 19th). You’ll hear from our government relations team in Albany about the latest legislative and political developments here in New York and have the opportunity to ask questions.

The calls are open to all Big I NY members, including state and local leadership and legislative liaisons. Click here to register now

Call Schedule:

Fri, Mar 22, 2019 10:00 AM - 10:30 AM EDT

Fri, Apr 5, 2019 10:00 AM - 10:30 AM EDT

Fri, May 3, 2019 10:00 AM - 10:30 AM EDT

Fri, May 17, 2019 10:00 AM - 10:30 AM EDT

Fri, May 31, 2019 10:00 AM - 10:30 AM EDT

Fri, Jun 14, 2019 10:00 AM - 10:30 AM EDT

Fri, Jun 28, 2019 10:00 AM - 10:30 AM EDT

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Mar 08

Independent Agents and Brokers Meet With Lawmakers in Albany

Scott Hobson on 3/8/2019 12:07 PM

This week, independent agents from across the state met in Albany for Independent Agents Advocacy Day.

Agents met with lawmakers on several key issues, including increasing the payroll threshold for the Workplace Safety and Loss Prevention Program, repealing requirement to provide 30 days notice to withdraw from NYSIF Workers Comp policies, and opposing single payer healthcare. Agents also called for repeal of the Scaffold Law, auto photo inspection law, and NYC's anti-arson application.

Throughout the day, we met with over 30 state lawmakers, including productive conversations with the Senate and Assembly leadership and chairs of the insurance committees.

Thank you to all who attended and help make this day a success! Already, many lawmakers have indicated they will support or co-sponsor our issues. Our voices are being heard by those in power, but as always, there is more work to be done.

View photos from the event here

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