New York became first state in the nation to issue cybersecurity insurance risk framework. The framework applies to all authorized property and casualty insurers that write cybersecurity insurance. DFS advises against paying ransom demands. SolarWinds-based cyber-espionage campaign is an example of a “systemic risk” that could damage many insureds simultaneously, potentially swamping insurers with massive and possibly unsustainable costs. New York could lead the way for other states and even the federal government to implement similar frameworks.Major carrier-underwriters such as AIG and Zurich have mostly been following these recommendations already.”]