The New York State Insurance Department wants life insurers and life reinsurers to tell it how liquid they are by Dec. 10.

Department officials say the “special liquidity inquiry” report must be completed by an insurer’s chief financial officer or other highest-ranking financial officer and must be submitted through the Web.

“The purpose of this special inquiry is to assess any changes in the company’s liquidity position since 12/31/07,” officials write in liquidity report instructions.

Questions include, “Does your company have a formal written liquidity plan?” and, “Describe how your company would respond to an immediate and material cash demand, such as could be triggered by a rating agency downgrade.”

Officials also ask for descriptions of reinsurance arrangements that include rating downgrade “put” provisions, and of all potential cash demands at the holding company level that could affect the insurer’s liquidity position.

The analysis should be done both for the general account and for guaranteed separate accounts, officials write.

Officials say they will consider requests to keep the information submitted out of the public record.