Many agencies would benefit from the guidance of a cyber security professional. The Independent Insurance Agents & Brokers of New York connected with providers across New York to learn which areas each can lend expertise to. The result - a directory of providers for you to choose the right fit for your agency.
Does your agency currently hold a license to write business in the state of New York?
If so, you must be compliant with a recently implemented new regulation. 23 NYCRR Part 500 was created to require entities that perform business in the state of New York to maintain a cyber security plan.
Step 1 – Determine if you qualify for a limited exemption.
Do you meet at least one of the following criteria?
Once, you have confirmed that you are exempt you will need to send a form to the New York Department of Financial Services that establishes your partial exemption status. This will include creating an account and completing an online form (if you have an excess lines license in the state of New York, use the login for your annual tax filing) (Click Here)
Step 2 – Complete the round 1 requirements by October 30, 2017.
Step 3 – Due February 15, 2018
With the exception of individual licensees who filed for a “complete” exemption pursuant to Section 500.19(b) of the regulation, ALL licensed resident and non-resident firms and individuals must file a Certification of Compliance by February 15, 2018. Licensees MUST certify that they are in full compliance with the following requirements:
Licensees that filed for a “limited” exemption under Section 500.19(a) of the regulation need to have fully complied with only the following requirements:
The New York Department of Financial Services has issued a filing clarification on its secure web portal. After logging on and then clicking on the function to file a Certification of Compliance, a message appears stating that the Certification due this coming February 15th must be filed on or after January 1, 2018. Certifications that were filed during 2017 must be refiled.
In addition to the 2018 Certification of Compliance, the following requirements must all be met by March 1, 2018:
Step 4 - Due September 3, 2018
The following are the requirements that must be complied with by September 3rd: