New York Regulator Issues Cyber Insurance Risk Framework with Implications for Insurers and Insureds

On February 4, the New York Department of Financial Services released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework for insurers that write cyber insurance. The framework identifies best practices that property/casualty insurers “should employ” to manage cyber insurance risk and raises a number of issues relevant to multiple stakeholders including policyholders […]
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