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NY A01239
Bill
Status
1/9/2025
Primary Sponsor
Alex Bores
Click for details
AI Summary
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Requires any insurance policy covering cyberattack-related losses or damages to mandate that the insured corporation or business entity notify law enforcement before receiving claim payments
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Applies specifically to corporations and business entities, not individual consumers
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Creates a new section 3114 in New York's insurance law addressing cyberattack coverage requirements
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Known as the "Cyber Ransom Prevention Act"
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Takes effect 180 days after becoming law
Legislative Description
Requires policies covering losses or damages from cyberattacks to include a requirement that the insured notify a law enforcement agency before receiving payment for losses or damages suffered as a result of the cyberattack.
Last Action
referred to insurance
1/7/2026