The COVID Project
Context, not an orderThis record is guidance or an announcement kept for context. It is not counted among the orders in force.
The record
- Jurisdiction
- New York; Department of Financial Services (State insurance and banking regulator) · New York
- Level
- Sector regulator
- Authority
- N.Y. Ins. Law § 308; Fin. Serv. Law § 302
- Issued
- 2020-03-10 Mar. 10, 2020
- Effective
- 2020-03-10 (responses due within 30 days) (read as 2020-03-10)
- End
- Not rescinded; the required plans governed operations through the emergency (read as 2021-09-30)
- In force
- Mar. 10, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Workplace rulesOther
- Addressees
- chief executive officers of all DFS-regulated insurance entities
- Functions reached
- IN insurance operations (mandatory preparedness plans covering remote work, facility closures, staffing)
- OP office and telework
- WF workforce (absenteeism, quarantine planning)
- HR
- Character
- context
- Collection
- State insurance and banking regulators AGY-ST-INSURANCE-BANKING
Operative words
DFS requires that each regulated entity submit a response to DFS describing its plans of preparedness to manage the risk of disruption to its operations and the financial risk arising from COVID-19. Responses are to be provided to DFS as soon as possible and in no event later than thirty (30) days from the date of this letter.
Enforcement
N.Y. Ins. Law § 308 (special reports; failure to respond is a violation subject to § 109 penalties) and the Superintendent's examination authority (§§ 309-310)
Notes
The plan had to address preventive measures, staged strategy, staff impact, remote-work capacity and communications; a companion Industry Letter of the same date imposed the same requirement on banking institutions (Ex. 007).
Retrieval noteText read in full from the authority's page; exhibit is a text capture, not a page image. Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).