My Y2K Risk Survey

As the millennium drew nearer, corporate America was braced in a race to have their

computer systems compliant for a four-digit date field (two-digit-year date fields of the

twentieth century having an issue with “00” when 01/01/2000 arrived). My address to

the American Bar Associations Annual Meeting in August of 1997 led to an important

Risk Survey to my clients. This is the first piece of the survey; more to follow in future

blogs.

“...in the very near future insurance companies will exclude Year 2000

exposures from any supposed/concluded coverage or place sublimits

on Year 2000 coverage and defense costs. Consider - your clients...

Directors & Officers and Errors & Omissions polices are renewed

with Year 2000 Exclusions.”

Nancy P. James, American Bar Association

Annual Meeting, August 1, 1997, San Francisco

YEAR 2000 RISK SURVEY

1. Do you sell products which are Year 2000 sensitive?

2. Are your own operations dependent upon Year 2000 compliance to continue operations?

3. Have you planned a worst-case scenario?

4. Can you continue operations for a known period of time under manual systems?

5. When manual systems fail, and Year 2000 fixes have still not been accomplished, do you have a

disaster recovery plan?