One Year Later: NY DFS Publishes Its Cyber Insurance Risk Framework
A guest post by Cowbell CyberOn February 5, exactly one year will have passed since the NY Department of Financial Services published its Cyber Insurance Risk Framework. This Framework outlines seven best practices relevant for property/casualty insurers and should be applied on an individualized basis to insurers depending on their respective amount of risk. In tandem with the rise of remote and hybrid workplaces, cyber criminals have evolved in their numbers and sophistication. This is evident when one looks at the sheer increase in ransomware attacks, cyber crimes, and other incidents. Though these trends in cybersecurity are acknowledged, society still has a great deal of…