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NYDFS Cyber Insurance Today's Popular Updates

Paul Hastings LLP

You’ve Got Mail: NYDFS Enforcement Action Highlights Cybersecurity Risk of Over-Retention and Other Risks

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On Aug. 14, 2025, the New York Department of Financial Services (NYDFS) issued a Consent Decree announcing that Healthplex, Inc. (Healthplex) has agreed to pay a $2 million fine, as a result of an investigation into a 2021...more

Kelley Drye & Warren LLP

Ransomware Attacks on the Rise: Will Cyber Insurance Protect You?

In just one year, ransomware attacks reported to the New York State Department of Financial Services (“DFS”) have almost doubled. In these incidents, a cyber-attacker installs malware that encrypts a victim’s computer...more

Bradley Arant Boult Cummings LLP

New Cyber Insurance Risk Framework Provides Best Practices for the Insurance Industry

The cyber insurance market size is currently valued in the billions, and this does not include insurance policies that do not explicitly mention cyber incidents but may nevertheless cover them. With this in mind,...more

Cooley LLP

Blog: Improving Cyber Insurance Practice Should Be a Company’s Priority

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The New York State Department of Financial Services recently issued guidance for New York-regulated property and casualty insurers to effectively manage the cyber insurance risk present in their insurance portfolio. The DFS’...more

Harris Beach Murtha PLLC

New York’s Department of Financial Services Urges Cyber Insurance Companies to Require Insureds to Implement Robust Cybersecurity...

The New York State Department of Financial Services (DFS) issued a letter to the cyber insurance community on February 4, 2021 that should signal a warning to many other businesses seeking to obtain or keep their...more

Alston & Bird

NYDFS Issues Best Practices for Cyber Insurance Risk Management

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Against the backdrop of the disruptions associated with the Covid-19 pandemic and SolarWinds cyber-espionage campaign, NYDFS has released guidance for insurers that underwrite cyber insurance policies and which contains a...more

Cooley LLP

Alert: Improving Cyber Insurance Practice Should Be a Company’s Priority

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The New York State Department of Financial Services recently issued guidance for New York-regulated property and casualty insurers to effectively manage the cyber insurance risk present in their insurance portfolio. The DFS’...more

Hogan Lovells

New York regulator issues cyber insurance risk framework with implications for insurers and insureds

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On February 4, the New York Department of Financial Services (NYDFS) released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework (Framework) for insurers that write cyber insurance....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2021 #2

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Cyber-attacks and Cybersecurity Failure Are Top Risks of the Next Decade Says World Economic Forum - Although somewhat obvious, the World Economic Forum, in partnership with Marsh McLennan, SK Group and Zurich Insurance...more

Robinson+Cole Data Privacy + Security Insider

NYDFS Issues Cyber Insurance Risk Framework for Regulated Entities

In what the New York Department of Financial Services (NYDFS) is touting as the first guidance by a U.S. regulator on cyber insurance, NYDFS announced on February 4, 2021, in Insurance Circular Letter No. 2 (2021), that it...more

Herbert Smith Freehills Kramer

Announcing ‘Cyber Insurance Risk Framework,’ NY DFS Joins OFAC in Discouraging Carriers From Making Ransomeware Payments

Ransomware threats and attacks dominated the cyber news cycle in 2020 and into 2021. With the global pandemic and the uptick in remote work and learning, cybercriminals and nation-state hackers have seized on vulnerabilities...more

ArentFox Schiff

New York DFS Circular Letter No. 2 (2021): Cyber Risk Framework for Property & Casualty Insurers

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On February 4, 2021, the New York Department of Financial Services (DFS) issued Circular Letter No. 2 (2021) to all authorized property and casualty insurers in New York, outlining a “Cyber Risk Framework” that all authorized...more

White and Williams LLP

NYDFS Announces Cyber Insurance Risk Framework to Address Increasing Cyber Risk

Even if your company does not report to the New York Department of Financial Services (DFS), all insurers should heed warning to prepare for future cyber risk regulations and requirements. Cyber risk is real and has the...more

Hogan Lovells

The evolving cyber insurance market: How IT companies, financial institutions, and other nontraditional players can offer cyber...

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In this hoganlovells.com interview, Hogan Lovells counsel Robert Fettman discusses the evolution of cyber insurance, the level of regulatory oversight applied to covered entities, and ways that noninsurance companies can...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Cybersecurity Trends for Boards of Directors"

Cybersecurity has in recent years become an integral component of a board’s role in risk oversight, but directors often find themselves in unfamiliar territory when it comes to formulating policies and oversight processes...more

Robins Kaplan LLP

New York Regulations Heighten Need for Due Diligence and Cyber Insurance Coverage

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Cybersecurity rules from the New York Department of Financial Services (DFS) went into effect on March 1 and now banks and insurers are faced with an increasing level of potential legal exposure for data breaches. This...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Privacy & Cybersecurity Update - February 2017"

In this edition of our Privacy & Cybersecurity Update, we look at a series of recent court rulings regarding standing in privacy cases, most of which suggest plaintiffs will continue to have a difficult time establishing...more

Holland & Knight LLP

New York Department of Financial Services Revises Proposed Cybersecurity Rule

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The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and...more

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