At the Fairmont San Francisco Hotel in San Francisco, President Joe Biden made remarks about technological development in the United States before he met with the President’s Council of Advisors on Science and Technology on Sept. 27. His remarks focused primarily on...
CID bulletin: Carriers’ responsibilities when they discontinue, reduce line of business
In the insurance industry, rules, laws and regulations play a vital role in ensuring fairness and transparency. For insurance companies operating in Connecticut’s admitted and nonadmitted marketplaces, staying compliant with the law is not only a legal obligation, but...
Will the government reclassify marijuana?
On Aug. 30, 2023, Secretary of U.S. Department of Health and Human Services, Xavier Becerra authored a letter to the Drug Enforcement Administration recommending that marijuana be reclassified from a Schedule I to Schedule III drug under the Controlled Substances Act....
ICYMI: DOBI publishes amendments to CE regulations
For the last three years, PIANJ has worked with the Department of Banking and Insurance to add amendments to the state’s insurance regulation to allow insurance producers to carry over continuing-education credits into a new licensing period, and other changes that...
N.Y.: DFS publishes updated cyber security regulation for comment, PIA offers analysis
The New York State Department of Financial Services published a revised proposed second amendment to 23 NYCRR 500—colloquially referred to as New York’s cyber security regulation. The publication of the revised second amendment comes over six months after the...
N.Y. cyber security certification of compliance filings due by April 15
Those individuals who hold a New York state insurance license (covered entities), including nonresident licensees, have until Saturday, April 15, 2023, to certify their compliance with the requirements of New York state’s cyber security regulation (23 NYCRR 500) for...
N.Y.: New cyber regulations on the horizon; certification of compliance due April 15
The New York State Department of Financial Services released the official proposed second amendment to the cyber security regulation (23 NYCRR 500) for public comment late last year. This follows an unofficial draft of the amendments that circulated this past August....
N.J.: Get in front of renewal increases with your clients; PIANJ offers sample letter
Across the country, the insurance-buying public has seen sharp premium increases when their homeowners and automobile insurance policies are being renewed. In many cases, premiums are outpacing claims and expenses, as well as rising higher than inflation. The rules...
N.Y.: DFS issues guidance on cannabis-related criminal convictions and underwriting
The New York State Department of Financial Services issued a circular letter last week to provide guidance to the insurance industry on cannabis-related criminal convictions and insurance underwriting. Under New York state law, it is illegal for any person or entity...
An overview: Amendments to N.Y.’s cyber security regulation (23 NYCRR 500)
The New York State Department of Financial Services released the official proposed second amendment to the cybersecurity regulation (23 NYCRR 500). This follows an unofficial draft of the amendments that circulated in August. The amendment would make multi-factor...