In an early November letter to members of the Financial and Banking Information Infrastructure Committee, the New York Department of Financial Services (DFS) provided a broad framework of cyber security standards that it intends to incorporate in new regulations for financial institutions.

The committee, which is made up of federal and state regulators of financial institutions, including the Federal Reserve Board, the Securities and Exchange Commission, the Federal Deposit Insurance Corp. and the National Association of Insurance Commissioners (NAIC), was established after the Sept. 11, 2001, attacks to improve the reliability and security of the financial sector infrastructure.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.