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​After a series of supply chain and ransomware attacks, the federal government is ramping up its effort to improve the nation’s cybersecurity. In the past several months, multiple federal departments and agencies announced new policy initiatives and regulatory directives to drive their cybersecurity agenda forward, and state regulators are following the trend. It is unmistakably clear that companies in regulated sectors are entering a new era of cybersecurity regulatory compliance. And although much of this early action targets specific sectors (e.g., government contractors, pipeline operators, and public companies), these requirements will indirectly touch companies in other sectors and are a preview of broader regulation to come.…

​Based on new information out today from the Excess Line Association of New York (ELANY,) we encourage you to perform the periodically-required risk assessment of your computer networks now and get ready for new cybersecurity requirements from the New York State Department of Financial Services (DFS.) As we reported earlier this month, DFS offered guidance to all entities it regulates on how to address the risks of ransomware attacks. Today's bulletin from ELANY indicates that they've had conversations with DFS that shed new light on the guidance.According to computer security software provider McAfee, "Ransomware is malware that employs encryption to hold a victim’s information at ransom. A user or organization’s critical data…