New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance
Data Matters
FEBRUARY 10, 2021
On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Insurers should: Establish a Formal Cyber Insurance Risk Strategy. Based on NYDFS’s survey, 36% of insurers already require their cyber insurance insureds to notify law enforcement of a cyberincident. 1 See W.B.
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