As of Oct. 16, 2024, the New York State Department of Financial Services issued new guidance for the entities it regulates—specifically addressing cyber security risks arising from artificial intelligence. This guidance is especially relevant for insurance agents and...
In today’s digital age, businesses are increasingly reliant on technology to operate efficiently. However, this dependence on digital systems also opens new avenues for risk, particularly in the form of cyberthreats. Look no further than the recent news of a global...
PIACT’s annual Connecticut Convention returned to Foxwoods Resort Casino, Mashantucket this year. The event, which was held at the end of March, featured hundreds of agents, company representatives, exhibitors, and more industry professionals from across the state....
This article in the cyber series is for those individuals who may lack a significant physical or financial presence in New York state. Just because a person lacks a physical or financial presence in the state though, does not mean that the New York cyber security...
Prior articles in the cyber series have concentrated on what it means to be a covered entity. This article discusses what covered entities must do to comply with New York’s cyber security regulation (23 NYCRR 500). Understanding covered entities Covered entities are...
Agents face opportunities and minefields in equal measure from the artificial intelligence revolution. No one questions that AI-powered tools can slash the time to perform many agency tasks, but hidden dangers and costs lie just beneath the surface. Two of the biggest...
Prior articles in the cyber series have concentrated on what it means to be a covered entity. This article transitions into discussing what covered entities that qualify for a limited exemption must do to comply with New York’s cyber security regulation (23 NYCRR...
Prior articles in the cyber series have concentrated on what it means to be a covered entity. This article transitions into a discussion about what covered entities must do to be in compliance with New York state’s cybersecurity regulation (23 NYCRR 500). This...
When New York state’s cyber security regulation (23 NYCRR 500) was amended at the end of 2023, it included the creation of a new type of covered entity referred to as Class A companies. Due to their size, these companies are required to go above and beyond what...
Technology has become a key player in the stability and success of modern small businesses. New technologies provide business owners with opportunities to boost growth and overcome obstacles. These tools are critical to enhancing an organization’s financial...
