The New York State Insurance Department wants the insurers it regulates to think about the unthinkable now, rather than later.
The New York department has drafted the 2010 versions of its disaster preparedness circular letters.
Regulators ask, for example, whether an insurer has a written disaster preparedness plan, whether the insurer has named the individual who is responsible for activating and terminating the plan, and whether the plan defines the term "disaster."
"Has the company established varying levels of response based on the severity of the disaster?" officials ask.
The draft versions of the questionnaires indicate that the completed forms will be due June 1.
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