Implications of NYDFS Regulations on Cyber and D&O Exposure

May 8, 2017 by Daniel Simnowitz

March 1, 2017 marks the effective date for the first-of-their-kind cybersecurity regulations from the New York Department of Financial Services (NYDFS). The regulations, which will be phased in over a two-year period, require financial services entities (including insurance companies, agents and brokers) to create and implement a cybersecurity program that emphasizes both breach prevention and response planning.