Weekly Dispatch: April 29, 2021

April 29, 2021

News

Conn./N.J./N.Y.: Help a local charity receive $2,500

Want to make a difference to a local charity in your community? PIA is working with the Insurance Industry Charitable Foundation to let agencies know that the IICF is offering 10 grants—worth $2,500 each—to worthy charities in Connecticut, New Jersey and New York. In order for the charity to receive one of the grants, it must be sponsored by an insurance entity—at no cost to you. Ask the charity you are sponsoring to complete an application. Applications are due Friday, May 28, 2021.

Conn.: Gov. Lamont announces proposal to rebuild Connecticut’s workforce

Gov. Ned Lamont announced last Thursday that he is proposing to invest $103 million to ensure that workers whose employment has been impacted by the COVID-19 pandemic have access to industry-aligned training programs that address the immediate hiring demands of employers, and provide job seekers with employment opportunities. Connecticut is receiving this funding from the American Rescue Plan Act. Lamont released the formal proposal to the Connecticut General Assembly on Monday. To keep you updated on the latest COVID-19-related news, see the PIACT COVID-19 resource page and be sure to read your PIA Northeast publications.

N.H.: NHID withdraws bulletins for regulated entities

New Hampshire Insurance Commissioner Chris Nicolopoulos announced last Friday that he has withdrawn a series of bulletins from the New Hampshire Insurance Department’s website. The bulletins that the commissioner removed are considered outdated and no longer should be relied upon for guidance.

N.Y.: PIA National director and PIANY past president elected to AIMS Society board

Dedicated PIANY past president and PIA National Director Richard A. Savino, CIC, CPIA, of Broadfield Insurance in Warwick, N.Y., was elected to the American Insurance Marketing and Sales Society board of directors for the 2021-22 administrative year. The AIMS Society is dedicated to marketing and sales education for the insurance industry. PIANY congratulates Savino on this achievement.

N.Y.: Offices can reopen at 75% capacity

Gov. Andrew M. Cuomo announced Monday additional reopening guidance, which includes increased capacity limits that will go into effect Saturday, May 15, 2021. As part of these increased capacity limits, offices in New York state will be allowed to increase their capacities to 75% from 50%. Social distancing, masks, health screening and all other state health and safety protocols will remain in effect.

Compliance

N.Y.: DFS issues report on the SolarWinds supply chain attack

The New York State Department of Financial Services released a report on Tuesday on its investigation of the financial service industry’s response to the supply chain attack on the information technology company SolarWinds. When SolarWinds was attacked, hackers corrupted routine software updates that were downloaded onto thousands of organizations’ information systems. According to the report, 94% of the effected companies removed the vulnerabilities from their IT systems within three days of the attack on SolarWinds. However, the DFS found that some companies were not taking regular preventative measures to ensure timely remediation of high-risk cyber exposure. DFS identifies some key cyber security measures as critical practices, including fully assessing and addressing third-party risks; adopting a zero-trust approach and implementing multiple layers of security; addressing vulnerabilities through patch deployment, testing and validation in a timely manner; and addressing supply chain compromises in incident response plans. Has your agency been affected by this cyber security event? One of the requirements of New York’s cyber security regulation is to report cyber events to the DFS. For more information about cybersecurity, PIANY has a cyber security regulation tool kit, which will help you comply with state cyber security regulations and help make your security program relevant, actionable and defensible.

Advocacy

N.Y.: PIANY-priority auto photo-inspection bill reported out of insurance committee

PIANY-priority bill, A.6877, was reported out of the state Assembly Insurance Committee yesterday. If it is signed into law, the bill—sponsored by Assemblyman Kenneth Zebrowski, D-96—would allow carriers to waive the photo inspection of private-passenger automobiles before providing physical damage coverage. In other words, this bill would allow carriers to give policyholders the option to save time and money by eliminating the state’s photo inspection requirement, otherwise known as Regulation 79. PIANY has testified that the requirement of taking and storing hard-copy photographs is outdated and unnecessary, and that the regulation should be repealed. PIANY thanks Assemblyman Zebrowski, for his continued support to remove this outdated requirement. This bill is one of PIANY’s 2021 legislative priorities. You can track this and other bills with the PIAdvocacy bill tracker.

N.Y.: Agents Advocacy Coalition helps at election time

When election time comes around, Agents Advocacy Coalition supports candidates who represent and advocate for independent agents in the insurance industry. Agents Advocacy Coalition wants to help get these candidates elected—and keep them elected—so independent agents have representation in Albany. These legislators are important because they give independent agents a voice in the state Legislature, and because they work with PIANY on the association’s legislative priorities. But, Agents Advocacy Coalition needs your help to be able to support these candidates. Donate today.

Educating insurance agents

Do you know the difference between EPLI, employment benefits liability and employers liability?

It’s crucial for agents to understand the differences between employment practices liability, employment benefits liability and employers liability. Agents need to know about these three arenas to protect their insureds, and potentially themselves, too. You can learn more about these three coverages—and how they’re related—when you register for Employment Practices vs. Employee Benefits vs. Employment Liability Issues, taught by Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC, on Wednesday, May 12, 2021, from 10 a.m.-1 p.m. Read more about this important topic

Register now

Register for Virtual Conference 2021

PIA Northeast’s Virtual Conference 2021 takes place June 8-9, 2021. Sign up now and save $50 per attendee. Early-bird rates expire Friday, May 7, 2021.

Conn.: Register for the CTYIP Golf Open

Networking is an important component of business. Golfing with your fellow insurance colleagues is a stress-free, fun way to learn more about the industry. Learn more about how to network at tee time. And, register for the CTYIP Golf Open, which takes place on Tuesday, June 15, 2021, at the Lyman Orchards Golf Club in Middlefield. Interested in sponsoring? There still are sponsorship opportunities available. For more information, email CTYIP Coordinator Ashleigh Adams.

Celebrating 40 Years with Berkshire Hathaway GUARD Insurance Companies.
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