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New York accelerates cyber insurance amid booming cyber attacks

New York State has entered a race against time to save its core businesses. The multiplication of cyber attacks by ransomware and SolarWinds links imply increasing losses. It puts businesses on the brink of collapse.

On February 4, 2021, New York became the first state in the country to develop an insurance framework against cybersecurity risk carried by licensed property and casualty companies. Thanks to him, the New York Department of Financial Services (DFS) said that “ [de] With the rise of ransomware to the recently revealed SolarWinds cyber-espionage campaign, it’s clear that cybersecurity is now of critical importance to almost …

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