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All authorized life insurers, retirement systems, fraternal benefit societies and

All authorized life insurers, retirement systems, fraternal benefit societies and 2025

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The document is a Circular Letter from the New York State Insurance Department outlining requirements for disaster planning, preparedness, and response for authorized life insurers, retirement systems, fraternal benefit societies, and employee welfare funds. It emphasizes the importance of having a Disaster Response Plan and Business Continuity Plan in place to ensure effective communication and resource allocation during disasters. The letter details the roles of insurance company disaster liaisons, the process for submitting plans and questionnaires by June 1, 2011, and guidelines for operations before, during, and after a disaster.

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Click ‘Get Form’ to open it in the editor.
Begin by reviewing the organization of the circular letter. Familiarize yourself with each section listed, such as 'Before a Disaster Strikes' and 'Operations During a Disaster'.
Fill out the Disaster Response Plan by detailing your preparations for disaster scenarios. Include board support, emergency training, claims handling capacity, and testing procedures.
Complete the Disaster Response Plan Questionnaire by providing contact information for designated disaster liaisons and ensuring any changes are reported immediately.
Submit your completed plans via the Insurance Department Portal Application or in hard copy by the specified deadline.

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What is a fraternal benefit society?

These organizations are legally required to operate through a lodge system, allowing only lodge members and their families to own the fraternal societys insurance. In 2021, there were 71 fraternal life insurance companies that had $364 billion of life insurance in force and $203 billion in assets (Tables 1.1 and 1.2).

All authorized life insurers, retirement systems, fraternal benefit societies and 2025

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