As you’ll read in the Legal Brief, the laws are changing and we want you to be prepared. While these laws pertain primarily to carriers, the impact on producers will also be felt. In a nutshell, it is a carrier’s responsibility to ensure their extended networks are compliant. This means any third party vendors and most importantly, this means YOU. You may be tasked with showing the carrier your compliance effort and to prove that you are taking the necessary actions in becoming and remaining compliant. Don’t worry, because CAC has you covered. Read more about some of the new CAC solutions that we will be launching in the Product News section.

And finally, as the legal times are changing, so, too, is CAC. We are proud to introduce our new director of enterprise sales; Neil Malady, who will be responsible for North American enterprise sales, which includes all aspects of the sales and marketing operation related to the new markets. Feel free to drop him a welcome line at: nmalady@complyfast.com.

Also new to CAC is our recently remodeled website. The new and improved website is equipped with more product information, customized carrier and producer sections and much more. Check it out for yourself. Drop us a line and let us know what you think.

My best wishes for a relaxing summer. And as for the regulations, we’ll take the legal lemons and turn them into compliance lemonade!

Jerry Shafran - CEO

Extended Enterprise Liability and How It Affects You
by Robb Chastain - General Counsel

Insurance distribution models have evolved over the last twenty years. Now, more than ever, public and private insurers rely heavily on their extended enterprise to sell their products and successfully grow business. This reliance has now opened them up to increased liability, all in thanks to the Gramm-Leach Bliley Act (GLBA), the law which has expanded civil and criminal liability from just the carrier realm into the extended enterprise. Where carriers were once just responsible for their own privacy and security compliance, they are now responsible for the compliance of their extended enterprise.

This is where you come in. For the purpose of this article, extended enterprise includes any service provider, which means any person or entity that receives, maintains, processes, or otherwise is permitted access to customer information through its provision of services directly to a carrier.

If you are a producer, in the very near future, you will be asked by your carrier about your compliance efforts. Are you compliant? What processes do you have in place? Please provide documentation.

Are you prepared to answer these questions?

In response to the GLBA and Sarbanes-Oxley regulations, CAC has developed two product suites that allow carriers the visibility and control over its extended enterprise, reducing their liability: Compliance Assured Enterprise and Compliance Assured Producer Network. (Both soon to be launched to the market).

What can you do now? Be proactive.

You can prepare your documentation, develop policies and procedures and prepare your annual risk assessment. Train your employees and monitor your network vulnerability. Stay on top of any new changes to regulations that will affect you.

Or you can have Compliance Assured Agent/Broker take care of it for you with just a click of a button.

What’s New
by Steve Polome, Chief Information Security Officer

New Look – Our Company has a new look. We’ve redesigned our website to bring together all of the resources necessary to keep you current on compliance issues in the insurance industry. You will find news, events, whitepapers, FAQ’s; in short, everything you need to stay at the top of your compliance game.

New Product Name – Comply on Demand is now Compliance Assured Agent/Broker (CAAB). All Comply On Demand subscribers have been upgraded, at no cost, to CAAB. CAAB assembles all of the pieces of the compliance puzzle into a picture you can use to win new business.

New Product Features - The new name brings new features with the same great commitment to your business.

• We’ve added an executive dashboard to provide a scorecard of key performance indicators of your compliance process. The dashboard provides up-to-the minute compliance information for your key compliance tasks such as employee training, vendor communication, business relationship management and technology vulnerability remediation.
• The Carrier Search feature has been streamlined so that choosing your carriers from our extensive database is easier than ever.
• We’ve standardized CAAB on the Federal Information Technology Security Assessment Framework by the NIST (National Institute of Standards and Technology) Computer Security Division (http://www.csrc.nist.gov). This update provides a standards-based vehicle for consistent and effective measurement of your security and compliance status.

New Solutions – We’ve utilized our extensive experience in Regulatory Compliance within the Insurance Industry to create two new product suites: Compliance Assured Producer Network and Compliance Assured Enterprise.

Compliance Assured Producer Network (CAPN) allows an insurance carrier to ensure that they have handled the problem of compliance in their extended enterprise. CAPN integrates components that provide visibility into the progress of compliance that the law requires within the carrier’s extended enterprise.

Compliance Assured Enterprise (CAE) is a comprehensive software solution optimized for insurance carriers that provide everything for the carrier’s privacy and security compliance, compliance for members of the carrier’s extended enterprise, and monitoring and reporting of the progress.

Take a minute to check out all that’s new at www.complyfast.com. If you ever have a question or aren’t sure who to call, call us, we’re here to help.

Steve Polome, CISSP-ISSMP, PMP is Chief Information Security Officer of Compliance Assurance Corporation. Prior to joining Compliance Assurance, Steve was a Vice President and Technology Director for PNC Bank.