Client Alert

| December 22, 2011

The New York Department of Financial Services Issues Circular Letter on ERM Compliance

The New York Department of Financial Services (the “NYDFS”) has finalized and issued a circular letter announcing its expectations for the establishment and maintenance of an Enterprise Risk Management (“ERM”) function by New York domestic insurers. A draft of the circular letter was previously released for public comment in August 2011. A copy of the circular letter can be obtained at:

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