September 11, 2019

Cyber Insurance Mandate for Energy Service Companies in New York

Heidi Elgaard

While many businesses implement cybersecurity best practices and cyber insurance so they can sleep tight knowing their business is secure, others take notice when legislation or a policy change forces their hand. The latter is the case in the state of New York, where Energy Service Companies (or ESCOs) are now required to carry cybersecurity insurance in the amount of $5 million per cybersecurity incident. The data security agreement (DSA) that went into effect December 1, 2018 has many New York energy companies scrambling to find a solution. 

While this seems daunting to many energy organizations, it doesn’t have to be.  In fact, starting a cyber insurance quote with Zeguro is quick and easy and can be done in minutes with Zeguro’s online insurance questionnaire

Abbey Gallegos, Zeguro’s EVP Insurance and an expert in this evolving field, will be helping energy companies fulfill their requirements this week (Sept. 12th) at the Energy Marketing Conference in New York. She will introduce interested energy companies to Zeguro’s online quoting engine, plus a suite of technology tools designed to help their businesses stay cyber safe. Zeguro’s Cyber Safety platform includes employee training, monitoring, and compliance, which provides users with an opportunity to earn potential savings on cyber insurance. 

Zeguro is no stranger to serving the needs of energy organizations. One of our early customers is Phoenix Energy out of New York. By working with Zeguro to purchase its cyber insurance policy and test drive the new Cyber Safety platform, Phoenix Energy is ahead of the legislative curve. 

The President of Phoenix Energy, states, "Given the increasing complexity and number of cyber attacks, best practices like employee training and ongoing monitoring are critical to our success. Zeguro delivered integrated cybersecurity technology and insurance, plus the personal support we needed to help us understand and mitigate our risk."

To make an appointment for a free cyber insurance evaluation at the conference or any time, contact Abbey Gallegos at abbey@zeguro.com or 510-735-5351.


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