NY Cybersecurity Rules Will Spur Action But Not Uniformity

JillAllison Opell was quoted in the article, “NY Cybersecurity Rules Will Spur Action But Not Uniformity,” published in Law360 on March 9, 2017. The article examines a trailblazing cybersecurity regulation that recently took effect in New York, requiring banks and insurers, among others, to fortify their cybersecurity protocols by putting detailed data security programs in place, increasing their monitoring of third-party vendors, appointing chief information security officers and reporting breaches within 72 hours. Given the pressure to act in the face of mounting cyberthreats, and because federal banking regulators, insurance commissioners and states from Connecticut to California will likely take up the mandates of New York’s new rules, the topic is of particularly relevance. Ms. Opell echoed this by noting, “We hear about cyber breaches all the time, and I think that regulators want to stay out in front of it and protect their consumers.”