NY: Model Cyber Laws After Ours
New York State Department of Financial Services Superintendent Maria Vullo said a task force of state insurance commissioners should use New York’s sweeping cyber security rules as a model for how insurers must protect their networks from hackers and when they must disclose cyber events. “We believe the best way for industry to focus on the threat of cyber security is to have a consistent framework,” Vullo said at a meeting of the National Association of Insurance Commissioners (NAIC) in Denver.
“We believe the best way for industry to focus on the threat of cyber security is to have a consistent framework,” Vullo said. “The New York regulation is a road map with rules of the road.” New York’s cyber security rules lay out steps that state banks and insurers must take to protect their networks and customer data from hackers and disclose cyber events to state regulators. The NAIC task force aims to develop another draft of a proposed model cyber security law by May 9.