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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, USVE 00820 @ (340) 773-6459 @ Fax (340) 719-3801 www.ltg.pov.vi BULLETIN 2018- 06 TO: All Companies Licensed or Authorized to Write Property and Casualty Insurance in the United States Virgin Islands RE: Replacement of Monthly Data Call Report Requirement Relating to 2017 Hurricane Irma and Hurricane Maria Insurance Claims with Bi-monthly Data Call Reporting This Bulletin is being issued to all U.S. Virgin Islands licensed or authorized property and casualty insurance companies, including licensed insurers, eligible surplus lines insurers, and companies that write private and/or excess flood insurance coverage, for the purpose of providing notification that effective October 31, 2018, the Office of the Lieutenant Governor, Division of Banking, Insurance and Financial Regulation (“Division”) will replace the requirement of Hurricane [rma and Hurricane Maria insurance claims reporting on a monthly basis (as was directed pursuant to Bulletin 2017-09), with bi-monthly reporting. Therefore, the data call report that was due as of October 15, 2018 shall be the lost insurance claims monthly report required by the Division. Be advised that data call reports shall now be submitted bi-monthly (every other month), beginning December 15, 2018. As the Teritory’s Commissioner of Insurance, I extend sincere appreciation to all companies licensed or authorized to write property and casualty insurance in the U.S. Virgin Islands, particularly to those insurers who actively participated in claim settlements for the two 2017 Category 5 hurricanes that impacted the Territory. As of September 25, 2018, active insurers’ commitment to claim closures resulted in Hurricane Irma and Hurricane Maria combined paid Josses in the U.S. Virgin Islands of nearly $1.8 billion, with an aggregate of Irma claims closed at 90% ond an aggregate of Maria claims closed at 89.3%. These results support my decision to now require only bi-monthly reports until] April 2019, Moreover, 1 am very cognizant of the fact that many insurers doing business in the Territory must now direct their resources to insurance claims reporting for geographic areas that were damaged regrettably by 2018 Hurricane Florence and Hurricane Michael. ***All insurance claims reports must be completed in Excel format and submitted via email to 201 7hurricanedata@Igo.vi.gov by the duc date of the 20th of the month, on a bi- monthly basis, in accordance with the following schedule: U.S.VIRGIN ISLANDS BI-MONTHLY DATA CALL FOR RURRICANE IRMA AND HURRICANE MARIA Data Call Report Number Cumulative Catastrophe Duc Date Claims Data Reported “As Of" 15" Report 12/15/18 12/20/18 16" Report 02/15/19 02/20/19 17" Report 04/15/19 04/20/19 Please continue to follow the reporting procedures outlined in Bulletin 2017-09, with the only change being that the reports are now to be submitted bi-monthly. As was done under Bulletin 2017-09, all company responses will be treated as strictly confidential. For the purpose of public disclosure, responses will be aggregated into general reports with no company identification provided. Please contact the Division immediately if your company (or group) is unable to comply with the requirements of the bi-monthly data call. Your cooperation in this effort is greatly appreciated. Questions regarding this Bulletin may be directed to the Division of Banking, Insurance and Financial Regulation by calling Director Gwendolyn Hall Brady at (340) 773-6459 on the island of St. Croix or Chief Examiner Cheryl Charleswell at (340) 774-7166 on the island of St. Thomas. Dated this” Bay of October, 2018 at St. Thomas, U.S. Virgin Islands. Osbert E. Potter Licutenant Governor/Commissioner of Insurance