New York State Assembly

Bill No.:  

 
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A08463 Summary:

BILL NO	A08463
SAME AS	No Same As
SPONSOR	Bores
COSPNSR
MLTSPNSR
Add §3114, Ins L
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.

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A08463 Actions:

BILL NO	A08463
12/29/2023	referred to insurance
01/03/2024	referred to insurance

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A08463 Committee Votes:

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A08463 Floor Votes:

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A08463 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8463
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    December 29, 2023
                                       ___________
 
        Introduced  by M. of A. BORES -- read once and referred to the Committee
          on Insurance
 
        AN ACT to amend the insurance law, in  relation  to  requiring  policies
          covering  losses or damages from cyberattacks to include a requirement
          that the insured notify a law enforcement  agency  within  seventy-two
          hours of discovery of the cyberattack

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1.  Short title. This act shall be known and may be  cited  as
     2  the "cyber ransom prevention act".
     3    § 2. The insurance law is amended by adding a new section 3114 to read
     4  as follows:
     5    §  3114.  Policies  covering  cyberattacks. Any insurance policy which
     6  provides coverage for losses or damages suffered  by  a  corporation  or
     7  business  entity  following  a cyberattack shall require that the corpo-
     8  ration or business entity shall notify a law enforcement agency  of  the
     9  cyberattack before receiving payment for losses or damages suffered as a
    10  result of such cyberattack.
    11    § 3. This act shall take effect on the one hundred eightieth day after
    12  it shall have become a law.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11860-03-3

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