Are You Doing Enough To Prevent Cyber Attacks?

New York State Asks Life, Health and Insurance Companies for Proof

On May 28, 2013, the New York State Department of Financial Services (the "DFS") issued inquiry letters, pursuant to its authority under Section 308 of the New York Insurance Code, to 31 of New York's largest life, health and general liability insurance companies. The "308 letters" request information from these insurers regarding steps they are taking to prevent cyber attacks. Specifically, the DFS is requesting information (to which the insurers are required to respond) regarding:

1. Information on any cyber attacks the companies have been subject to in the past three years;
2. The cyber security safeguards the companies have put in place;