Delaware Department of Insurance Issues Updated Bulletin No. 5

On October 8th, 2020, the Delaware Department of Insurance released an updated Bulletin No. 5, which requests the submission of an annual certification of compliance with the Delaware Insurance Data Security Act.

An annual certification must be submitted by Insures who are domiciled in the State of Delaware, and who are licensed under the insurance laws of Delaware, no later that February 15th of each year. Both a written certification of compliance with the Delaware Insurance Data Security Act as well as an affidavit must be attached to the updated bulletin (found HERE) and submitted to the Commissioner at doidatasecurity@delaware.gov.

Additionally, the updated e-mail address to which further notices of a data breach should be sent is also doidatasecurity@delaware.gov.

For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.

Click Here to receive Westmont Wires directly to your inbox.

NAIC Request for Information

On September 28th, 2020, the NAIC Innovation and Technology task force sent out a request for information pertaining to regulatory relief related to innovation and technology in response to COVID-19. The NAIC is seeking to both extend existing regulatory relief, and provide new regulatory relief, that promotes the use of new technology, procedures, and data in maintaining the everyday operations of insurers. A list of offered regulatory relief can be found HERE.
The NAIC requests that insurers identify technology related laws, regulations, or practices that continue to act as a challenge to insurers as a result of COVID-19. Please submit your suggestions via e-mail to Denise Matthews at (dmatthews@naic.org) by November 4th, 2020.
For more information on this Request, or any other regulatory compliance matter, please contact Westmont Associates, Inc
Click Here to receive Westmont Wires directly to your inbox.

New York State Amended Producer Licensing Certification Process

The New York Department of Financial Services (DFS) and the New York State of Health (NYSOH) has announced that, effective August 31st, 2020, producers seeking certification must now visit the NYSOH website to register a new account in order to access NYSOH approved producer certification courses. This does not affect producers who are already certified through the NYSOH.

The certification courses will be administered online by the NYSOH and will no longer be offered by the DFS approved education providers. As a result, the registration process on the DFS licensee self-service portal will no longer be available beginning August 28th, 2020 and will instead be moved to the NYSOH website beginning Monday August 31st, 2020.

The NYSOH link to create an account is provided HERE.

For more information on this Bulletin, or any other regulatory compliance matter, please contact Westmont Associates, Inc.

Click Here to receive Westmont Wires directly to your inbox.