Cyber 2020 – What you need to know! 1/6/2020

If you hold a New York insurance license, you need to renew your DFS Cybersecurity Certificate of Compliance again in 2020.  New York takes the threat of cyber attacks seriously and ITI believes you should too.  So, what do you need to do?

Before we talk about 2020, we must address 2019.  According to the NYDFS, thousands of licensees did not comply with the 2019 Cybersecurity filing requirement.  There are no exceptions or exemptions to the Rule and all licensees must file, even those who are not active in the business, but continue to renew and hold their producer license.  If you are not sure if you filed in 2019, you can review your status through the DFS Cybersecurity Portal   If you did not file in 2019, do it now.  You can refer to ITI’s previous blog and the DFS has assistance for you in their Cyber Security Resource Center

Next, for the majority who did file in 2019, get ready to file again in 2020, between January 1st and April 15th.  That gives you a more than a 100 day window to comply with Part 500 of the Financial Services Regulations.  You should note that this filing requirement is an annual event and you will need to do it again every year you keep your license.  What is different for the renewal is you don’t need to file a “Notice of Exemption” again, unless something about your business has changed.  Follow the same DFS Cybersecurity Portal path to complete the 2020 filing.

Please remember, we at ITI cannot help you complete your filing and we cannot tell you what exemptions may apply to you.  Your questions are best directed to, the Department of Financial Services Cyber Regulatiosn Support Team.

We do hope this message helps you understand this important program a bit better.

Be well.

Bob Secovnie