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Circular Letter No 3 (1999) - Department of Financial Services - dfs ny

Circular Letter No 3 (1999) - Department of Financial Services - dfs ny-2025

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The document is a Circular Letter from the New York Insurance Department, issued on January 25, 1999, addressing all licensed insurers regarding the requirement to include Year 2000 issues in their Management Discussion and Analysis (MD&A) for the 1998 Annual Statement. It emphasizes the need for full disclosure of the company's readiness, costs, risks, and contingency plans related to Year 2000 compliance. Failure to adequately address these issues in the MD&A will result in an incomplete filing.

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