Brought to you by:

New York checks insurers’ cyber threats

The Governor of New York has launched an inquiry into the steps insurers are taking to protect their customers and companies from cyber threats.

The state’s Department of Financial Services has requested information from insurers about the policies and procedures they have in place to protect against such attacks. Insurers are legally required to respond.

The department requested similar information from banks earlier this year.

Information requested includes any cyber attacks the company has been subject to in the past three years, the cyber security safeguards it has in place, its IT management policies, the amount of funds and resources dedicated to cyber security at the company, and its governance and internal control policies related to cyber security.

More than 30 insurers were contacted, including AIG, Berkshire Hathaway, Chubb, The Hartford, MetLife, Tower Group and Liberty Mutual.

“The extraordinarily sensitive health, personal and financial information that New Yorkers entrust to their insurance companies is a virtual treasure trove for hackers,” Governor Andrew Cuomo said.