The National Association of Insurance Commissioners is being urged to adopt New York’s Cyber Finance Security Rules in each of their respective states.
NAIC will release proposed rules soon
Reuters | New York Regulator Wants Other States to Model Cyber Laws After Its Rules
Refresher on the New York Cyber Security Rules from January 2nd, 2017 informed:intel:
The state upping the ante on data security rules for the finance industry: New York
The new New York rules announced December 28th will:
- Effective Date will be March 1, 2017 instead of January 1st
- Require annual reporting to the state about data security compliance
- Requires financial institutions to maintain comprehensive audit trails
- Mandatory reporting of any cybersecurity event within 72 hours
- Financial institutions must appoint a Chief Information Security Officer (CISO)
- Required multifactor authentication for staff accessing internal networks or information systems externally
Business Insider | New York delays new cybersecurity rules for financial firms