The New York State Insurance Department (NYSID) was the state agency responsible for supervising and regulating all insurance business in New York State. It was regarded in the industry as one of the most state-of-the-art insurance regulatory agencies. Effective October 3, 2011, Governor Andrew Cuomo and the New York State Legislature consolidated the New York State Insurance Department and the New York State Banking Department and created the New York State Department of Financial Services.