New York State seal

September 18, 1992

SUBJECT: INSURANCE

WITHDRAWN

Circular Letter No. 15 (1992)

TO: ALL NEW YORK LICENSED AND ACCREDITED PROPERTY AND CASUALTY INSURERS AND REINSURERS

RE: EXPOSURE TO HURRICANE ANDREW AND INIK! LOSSES

In consideration of this Department's regulatory concerns and in recognition of the potential serious impact that the subject storms may have on those insurers doing a direct business in Florida, Louisiana and Hawaii, this Department wishes to assess the possible effect upon insurers licensed to do an insurance business in this State and those that have been recognized as accredited reinsurers by New York.

Accordingly, upon the Company's receipt of this letter, kindly provide this Department with your timely response by way of management's statement of its assessment of the impact upon the resources and surplus to policyholders of the Company and any problem that management anticipates in meeting its policy obligations arising out of the subject storms. The statement should include the estimated amount of storm losses incurred.

Kindly direct your response to:

Mr. Vincent Laurenzano

Assistant Deputy Superintendent and Chief Examiner

New York State Insurance Department

160 West Broadway

New York, NY 10013

Very truly yours,

SALVATORE R. CURIALE

SUPERINTENDENT OF INSURANCE