New York Department of Financial Services requests that New York-authorized insurers provide information relating to business continuity and disaster recovery plans

On July 19, 2021, the New York Department of Financial Services (DFS) issued Circular Letters 6 and 7 (2021) (Circular Letters) setting forth DFS’s expectations for all New York-authorized insurers in planning and preparing for, and responding to, disasters that could affect the insurer’s ability to continue doing business and servicing customers in New York State. The Circular Letters require all New York-authorized insurers to submit to DFS by October 8, 2021, a disaster response plan, a...
By: Eversheds Sutherland (US) LLP