Webinar – NYS DFS Provides Guidance Doc to Comply with Cybersecurity Compliance Requirements

In follow-up to the NAIFA-New York webinar held jointly with NYS DFS to educate NAIFA members on their cybersecurity compliance requirements, the DFS has issued a new “cheat sheet” document to guide independent agents about how they can be in compliance with their new cyber regulations.

This template is intended for individual licensees who qualify for a section 500.19(a) limited exemption under the Cybersecurity Regulation, meaning:

1. The individual licensee and its affiliates combined have fewer than 20 employees and independent contractors;
2. The individual licensee must have less than $7,500,000 in gross annual revenue in each of the last three fiscal years from all business operations of the licensee and the business operations of its affiliates in New York State; or
3. The individual licensee must have less than $15,000,000 in year-end total assets, including assets of all affiliates.

Laura Evangelista, Esq., legislative counsel for NAIFA-NY and was the former executive deputy superintendent at DFS, will teach this hands-on webinar. She will walk you through each section of this 19-page guidebook, and address your questions about compliance requirements.

Your independent agency is NOT considered exempt under these new regulations, and this webinar will address why, and how you can be in compliance and avoid costly fines.

This is an essential webinar for independent agents. NAIFA-NY is thrilled to bring this members-only resource to your door to address confusion that continues to be raised regarding if you are in compliance.

In a one-hour webinar Monday, July 22 at 10am EST, Ms. Evangelista will explain and address who does and does not qualify for exemptions from the regulation and the compliance obligations for an exempt producer.

In 2023, the New York Department of Financial Services (DFS) implemented amendments to New York’s cybersecurity regulation, known as Part 500. These new cybersecurity regulations impact every insurance producer who is licensed in New York—both resident and non-resident license holders.

Don’t miss this unique opportunity to hear directly from DFS. Register now to attend this important webinar. You must pre-register in order to receive the event link. See you then!