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P/C Insurers Defend Ransomware Reimbursements in New Cyber Principles
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Like Terminator, high-tech cyber crime to
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Like Terminator, High-Tech Cyber Crime to Keep Coming
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Like Terminator, high-tech cyber crime to keep coming
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New York issues cyber insurance framework as ransomware, SolarWinds costs mount
State looks to protect one of its core industries, which is threatened by mounting and potentially unsustainable losses due to the SolarWinds and ransomware attacks Credit: Dreamstime
On February 4, 2021, New York became the first state in the US to issue a cyber security insurance risk framework to all authorised property and casualty insurers.
In releasing the framework, New York s Department of Financial Services (DFS) said that from the rise of ransomware to the recently revealed SolarWinds-based cyber-espionage campaign, it is clear that cyber security is now critically important to almost every aspect of modern life – from consumer protection to national security.