Larry Williams, DCHA VP, Pleads the Fifth As A Precaution
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New York Department of Financial Services Issues First-of-Its-Kind Cyber Insurance Risk Framework
On February 4, 2021, the New York Department of Financial Services (DFS) issued Circular Letter No. 2, which introduced a Cyber Insurance Risk Framework directed to New York-regulated property/casualty insurers that outlines best practices for managing cyber insurance risk. The framework is the first-ever guidance by a U.S. regulator on cyber insurance.
Background
In its introduction to the framework, DFS noted that as cybercrime continues to increase for all organizations, cyber insurance is playing an increasingly important role in managing and reducing cyber risk. While cybercrime in general is on the rise, DFS reported that the “biggest driver” of the increase was the frequency and cost of ransomware attacks. According to a 2020 DFS survey, from early 2018 to late 2019 the number of insurance claims that arose from ransomware increased by 180%, and the average cost of a ransom
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Governor Andrew M. Cuomo today announced that 75 businesses, schools, and community-based organizations across the state have been awarded nearly $9.5 million as part of the State s historic Workforce Development Initiative. Funding and incentives provided by Department of Labor, Empire State Development and the New York State Energy Research and Development Authority will support critical job training and employment opportunities in high-demand industries for nearly 5,000 New Yorkers across the State.
When the COVID-19 crisis hit and New York s economy took a turn for the worse, the state s Workforce Development Initiative became even more vital to our longtime goal of making sure everyone, regardless of background, has access to a good job, Governor Cuomo said. We re providing greater economic opportunity to New Yorkers and addressing the business needs of companies committed to growing here, and these awards will help companies across the stat
California State Treasurer Fiona Ma announced her appointment of Nancee Robles as Executive Director of the California Tax Credit Allocation Committee (CTCAC) and Interim Executive Director of the California Debt Limit Allocation Committee (CDLAC).
“I have worked closely with Ms. Robles and am confident that she is the right person to lead the two key housing committees which I chair and to keep our affordable housing production numbers moving forward. She is a highly regarded professional with superb public and private sector management experience,” Treasurer Ma said. Ms. Robles will assume her new roles and responsibilities beginning March 1, 2021.
In 2020, Treasurer Ma appointed Ms. Robles as Executive Director of the California Pollution Control Financing Authority (CPCFA) bringing her full circle back to CPCFA where she started her public service career (2009-2014). She led a team of professionals at CPCFA that issued private activity bonds, providing access to capital f
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