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Insuring Cyber: Lacewell on How New York Became a Leader in Cyber Regulation

New York State Department of Financial Services (DFS) Superintendent Linda Lacewell spoke with Elizabeth Blosfield during the most recent episode of the ....

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New York Regulator Issues Guidance for Insurers Writing Cyber Policies in the State

New York Regulator Issues Guidance for Insurers Writing Cyber Policies in the State
The New York State Department of Financial Services (DFS) has issued new guidance spelling out best practices for New York-regulated property/casualty insurers that write cyber insurance. This serves as the first guidance the regulator has issued on cyber insurance in particular.
“Cybersecurity is the biggest risk for government and industry, bar none,” said DFS Superintendent Linda Lacewell in a press release issued by her office. “Cyber insurance is critical to managing and reducing the extraordinary risk we face from cyber intrusions. After extensive dialogue with industry and experts, we are issuing guidance to foster the growth of a robust cyber insurance market that can effectively help protect us against the growing cyber threats we face.” ....

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Expecting the Unexpected: Cyber Lessons from COVID and What Could Be Ahead

Expecting the Unexpected: Cyber Lessons from COVID and What Could Be Ahead
What is the biggest lesson that cyber insurers should carry into 2021 after a year in which the COVID-19 pandemic took center stage?
In the first Insuring Cyber podcast episode of the new year and the fifth overall, Tim Zeilman, vice president and global cyber product owner at Hartford Steam Boiler (HSB), discusses how lessons learned from the coronavirus pandemic and from recent significant cyber attacks are more related than insurers may think.
“I think the lesson is pay attention and learn the lessons of the close calls,” he tells Insurance Journal’s Elizabeth Blosfield. “So when you think about the COVID-19 pandemic that we’re in the midst of right now, it’s not the first one. We had inklings that things like this might happen.” ....

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