In the most recent move by Benjamin Lawsky, superintendent of the state Department of Financial, “insurers doing business in New York State must tell a regulator there about efforts to prevent computer hacking, detailing the precautions taken and the personnel devoted to the task.”
In a letter to insurers Lawksy stated that they must provide this information by April 27. It is expected that these new regulations will affect about 160 life, health and property & casualty insurers. Lawsky wrote that, “the department intends to schedule IT/cybersecurity examinations after conducting a comprehensive risk assessment of each institution.”
