We know how challenging it is for excess line brokers to comply with the New York Department of Financial Services’ (NYDFS) cybersecurity regulation. That’s why ELANY has partnered with Renaissance Systems, Inc. (RSI) to bring its members CyberCompass™, a state of the art automated online DFS cybersecurity regulation compliance tool, PAID FOR BY ELANY.
CyberCompass™ is a best-in-class, cloud-based automated compliance system that has been tailored specifically to excess line broker cybersecurity compliance needs. Brokers choose the exempt or non-exempt version of the questionnaire, answer a series of yes or no questions at their own pace and convenience, and the system automatically creates a Risk Assessment document. Just as important, it identifies vulnerabilities that require remediation, an invaluable benefit for protecting both clients and the firm. CyberCompass™ also produces customized written cybersecurity policies and procedures, performs third party service provider management, assists in filing the annual certification of compliance with the NYDFS, and helps your firm track its overall compliance with the regulation. All of these requirements must be met by both exempt and non-exempt brokers, resident and nonresident.
ELANY is providing a one-year CyberCompass™ subscription for FREE to ELANY members that:
- Are licensed as New York excess line brokers at the time they enroll in CyberCompass™, and
- Have filed an insurance policy document with ELANY since January 1, 2018