Gkonos comments on challenges with New York Cybersecurity regulations
Jim Gkonos, a member of the Firm’s Cybersecurity and Insurance practices, is quoted in this article on the New York State Department of Financial Services new cybersecurity regulations. The article explains that the new regulations are putting a strain on some insurers as companies begin to comply with the rules.
“Compliance with the vendor management provisions has led to challenges,” said Jim in the article. “As part of the requirement that covered entities ensure compliance by third-party vendors, they must track compliance. Many companies have neither done this in the past nor dedicated the resources to this task, so this new requirement is proving to be a challenge.”
To read the full article, click here.