Privacy & Cybersecurity Update - February 2021 | Skadden, Arps, Slate, Meagher & Flom LLP
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 pla...
Source: jdsupra.com