Office of the Lieutenant Governor

Division of Banking, Insurance and

Financial Regulation



#5049 Kongens Gade, Charlotte Amalie, St. Thomas, USVI 00802-6487 @ (340) 774-7166 @ Fax (340) 774-9458

1131 King Street, Suite 101, Christiansted, St. Croix, USVI 00820 @ (340) 773-6459 @ Fax (340) 719-3801

ltg.gov.vi



BULLETIN 2019-03



TO: Insurers, Insurance Agencies and Other Entities Regulated by the U.S. Virgin

Islands, Division of Banking, Insurance and Financial Regulation



RE: Implementation of Written Catastrophe Response Plan



As you are aware, the 2019 Hurricane Season is here. Hurricane preparedness is critically

important for the 2019 hurricane season, just as it is every year. This Bulletin is to remind all

insurers and other regulated entities that fall under the purview of Bulletin No. 2017-07, that the

Hurricane Season began June 1° and expires on November 31" and that all insurers and other

regulated entities should take actions necessary, incidental or appropriate for the implementation

of their Catastrophe Response Plan (“Plan”), in case a disaster occurs.



On October 27, 2017, the Virgin Islands Commissioner of Insurance issued Bulletin No.

2017-07 requiring all insurers and other entities regulated by the Division to develop a Catastrophe

Response Plan to respond to the needs of their policyholders during a disaster. The required

development and implementation of this measure was to ensure that a mechanism is in place when

a catastrophe occurs and those policyholders suffering any type of losses will have access to

emergency information and services provided by the insurer.



Essential components of your plan should include:



e Emergency contact information of the insurer, the insurance agency and other regulated

entities (i.e., electronic mail address, phone number(s), etc.) to be provided to the public

by the Division;



e Emergency contact information of key or essential management of the insurer, the

insurance agency and other regulated entities located in this Territory;



e Alternative office location(s) or worksite(s);

e Procedures for back-up, storage, and retrieval of records and data, including

accessibility to and security of such records and data;



e Procedures for training employees, on the implementation of the written catastrophe

plan; and any other information that may be useful to the customer and the Division.



e Procedures for communication with customers in the immediate aftermath of a

catastrophe;



e Procedures for processing of policyholders or third-party claims by telephone or in

person in the aftermath of a catastrophe;



e Procedures for openings and closings place of business in the aftermath of a

catastrophe;



If you have not already tested your Plan, we request that you immediately test your Plan

and make any necessary adjustments. More than one practice run may be required. Also, it is

imperative that all employees become familiar with the Plan and participate in the testing so that

everyone knows what to do during a real disaster.



Lastly, during times of crisis, catastrophe, or natural disaster, the Government of the Virgin

Islands may choose to enact emergency curfews that set restrictions for all citizens. Curfew Pass

request forms are now available from the Virgin Islands Territorial Emergency Management

Agency (VITEMA) website at www.VITEMA.gov. The deadline to submit curfew pass

applications is August 31, 2019.



If there are questions regarding this Bulletin, please contact the Division of Banking,

Insurance and Financial Regulation by calling (340) 774-7166 on St. Thomas or (340) 773-6459

on St. Croix.



Dated this / 7 day of June, 2019 on St. Thomas, U.S. Virgin Islands.



A. Bioach, Esq.

nt Governor/Commissioner of Insurance



Lieu