Compliance

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Compliance Emails Spreadsheet

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Compliance Emails

• The following spreadsheet provides a listing of all producer and agency codes that we currently have on file with carriers and wholesalers. The information on this spreadsheet is confidential and should not be used or disseminated for any purpose other than to coordinate directly with the referenced carriers and wholesalers. This spreadsheet may not contain accurate information, and/or the codes on this spreadsheet may not be current. If you do not see a carrier or wholesaler on this list, it does not mean we are not open with them; we simply may not currently have an available producer code or recent documentation on file. Please e-mail compliance@sterlingrisk.com to discuss.
• Access the spreadsheet for SterlingRisk by clicking HERE.
• Access the spreadsheet for AIS by clicking HERE.

• When on-boarding a new External Broker/Producer, the following documentation is required prior to accepting business from the External Broker/Producer and creating an account in EPIC:
• W9
• Fully Executed Sub-Producer Agreement
• Active Resident State Broker’s license
• E&O Certificate showing minimum limit(s) of $1,000,000 and SIR/deductible no greater than $50,000
• Once the executed Agreement is received from the External Broker/Producer, the Agreement should be sent to Susan Schildcrout for David’s signature, and you must return the counter-signed copy to the External Producer/Broker.
• Once you have all of the completed required paperwork, you are ready to create an account in EPIC. You can do so by completing the form available HERE. Select “External Producer” and attach the Broker Specific Data documents.
• Once the EPIC account has been created, notify internal contacts (i.e. servicing team, internal producer) that the External Broker/Producer has been set up and circulate the EPIC ID.
• Copies of our template Sub-Producer Agreements for SterlingRisk and Bolton Street Programs are available, below:
• SterlingRisk Sub-Producer Agreement
• Bolton Street Programs Sub-Producer Agreement

• Click HERE for a sample service fee letter and review the information below.
• For any insured where we charge a service fee, we have a legal obligation to prepare a Service Fee letter and have the insured EXECUTE THE SAME. This is a requirement under various state insurance laws, including New York.
• Pursuant to New York Insurance Law Section 2119, Broker Compensation Agreements:
• (c) (1) No insurance broker may receive any compensation, other than commissions deductible from premiums on insurance policies or contracts, from any insured or prospective insured for or on account of the negotiation or procurement of, or other services in connection with, any contract of insurance made or negotiated in this state or for any other services on account of such insurance policies or contracts, including adjustment of claims arising therefrom, unless such compensation is based upon a written memorandum, signed by the party to be charged, and specifying or clearly defining the amount or extent of such compensation.(2) A copy of every such memorandum shall be retained by the broker for not less than THREE YEARS after such services have been fully performed.
• When you are entering Service Fees into EPIC, please also remember to use the correct billing codes:
• AFNE – Agency Fee New Business
• AFRN – Agency Fee Renewal Business
• Issuing Company – STERL1
• Premium Payable – STERL1
• If you require a more comprehensive Client Service Agreement for any accounts, please reach out to Lia Krautmanis (lkrautmanis@sterlingrisk.com) on a case by case basis. If you have any questions regarding EPIC transaction codes, please reach out to Carlo Caringal (CCaringal@sterlingrisk.com).

New York’s Cybersecurity Regulation (23 NYCRR Part 500) – Individual Licensee Exemption Filing

The New York Department of Financial Services published its Cybersecurity Requirements For Financial Services Companies regulation (23 NYCRR 500) effective

March 1, 2017. The regulation requires covered entities to develop an extensive cybersecurity program, and certify compliance with a number of enumerated regulatory requirements. The regulation applies to all New-York licensed insurance brokers – firms and individuals, resident and non-resident, regardless of lines of insurance brokerage.

Section 500.19(b) of the regulation offers a total exemption for licensees that are fully covered by the cybersecurity program of another covered entity, such as an individual broker who works for a firm that is licensed in New York. However, licensees claiming this exemption must still file a Notice of Exemption. Licensees qualifying for an exemption must file on the New York Department of Financial Services cybersecurity web portal.

A fresh exemption filing is required for any changes to exemption status. As an employee of SterlingRisk, you qualify for the exemption under Section 500.19(b). If you have not already completed your exemption filing, or if your recent employment at SterlingRisk will change your exemption status, please log on to the cybersecurity web portal and file your Notice of Exemption.

Click here for instructions specific to SterlingRisk. Click here for detailed instructions on how to file for the exemption.

Once you have completed your exemption filing, you will receive an email receipt. Please retain this receipt in your files and forward it receipt to the Compliance Team at compliance@sterlingrisk.com.

Surplus Lines Compliance Portal

• SterlingRisk Entity Licensing: a listing of all current entity licensing information is available HERE. Note, the entity is licensed under the legal name “Sterling & Sterling LLC”
• A copy of SterlingRisk’s NY BR license is accessible HERE. Please e-mail compliance@sterlingrisk.com for all other license requests.
• AIS Entity Licensing: a listing of all current entity licensing information is available HERE. Note, the entity is licensed under the legal name “Alternative Insurance Solutions Brokerage, LLC”
• A copy of AIS’ NY BR license is accessible HERE. Please e-mail compliance@sterlingrisk.com for all other license requests.
• Employee Licensing:
• All client-facing employees must maintain an active insurance brokers license in their resident state. Please assure you are also in compliance with the following mandatory licensing requirements:
• You can utilize our automated system to upload your license(s) and automatically be reminded of your renewal dates. Simply go to https://vvzxrybyzsd.c.updraftclone.com/upload-insurance-license/, enter some basic information, and attach the PDF of your license. You will then receive email reminders starting 120 days prior to expiration. This is required for all licensed employees. If you have multiple licenses, please enter each one individually.
• All licensed employees must display their license in their work area. This is a requirement from the NYDFS. Please make sure you have a printed copy of your license displayed in your office or cubicle.
• In accordance with the New York Department of Financial Services (NY DFS) Cybersecurity Regulation, if you are a NY DFS licensed individual employed by SterlingRisk, you qualify for an exemption under Section 500.19 (b). Please review the Cybersecurity/Data Security Compliance page for more information New York DFS Cybersecurity Regulation Exemption Instructions section above.

• If you need access to Zywave, place a Help Desk ticket HERE.
• Zywave’s Content Library is accessible via the toolbar on the left-hand side of the screen HERE.
• It offers a wealth of resources related to employment, risk management, personal lines, property and casualty, and marketing and strategies – such as employee safety manuals, FMLA posters, disaster planning newsletters, ACCORD forms, and marketing flyers.

• SterlingRisk Anti-Corruption Policy
• SterlingRisk Financial Crime Compliance Manual