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New York issues cyber insurance framework as ransomware, SolarWinds costs mount

Reseller News Join Reseller News Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.Sign up now 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.

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