Federal Reserve Board Takes Significant Action to Support the Economy and Market Functioning Publication | Jul 31, 2020 More About | Financial Services | Risk Advisory | COVID-19 The coronavirus outbreak is creating unprecedented disruption in economic activity and the normal functioning of the financial markets worldwide. Many countries are implementing monetary and fiscal policies to mitigate the financial impact of the coronavirus. Read More
New York Insurers: Internal Audit Requirement in November 2020 Publication | Jul 28, 2020 More About | Insurance | Risk Advisory New York State Department of Financial Services (DFS) adopted Regulation 118 in 2009 to apply audit and reporting standards for New York authorized insurers. An amendment to Regulation 118, which requires certain insurers to establish an internal audit function, will go into effect on Nov. 20, 2020. Read More
New York Insurers: Corporate Governance Annual Disclosure Requirement Publication | Jul 28, 2020 More About | Insurance | Risk Advisory The Corporate Governance Annual Disclosure (CGAD) Model Act became an accreditation requirement of the National Association of Insurance Commissioner’s (NAIC) on Jan. 1, 2020. New York State Department of Financial Services (DFS) Regulation 215 adopts the NAIC’s guidance, requiring all authorized insurers to submit a CGAD to the DFS by Dec. 1, 2020. Read More