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...
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....
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...
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...
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...
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....
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...
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...
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...
Originally published in 2017, 23 NYCRR 500 was a first-in-the-nation attempt at creating standards for the financial services industry in protecting nonpublic information. These amendments would be the first major changes to the regulation since its adoption. The...