LANSING – Insurance Commissioner Frank M. Fitzgerald announced today that the Michigan Insurance Bureau foresees little or no disruption of insurance services when the year 2000 begins due to company computer systems. The Bureau worked with each Michigan-based insurance company and health maintenance organization to gather information about the preparedness of each entity to continue business as usual after January 1st. The Bureau also completed on-site reviews of selected companies to obtain additional information about the preparations used to ensure Year 2000 readiness.

"Based on the results of our study, it appears that the domestic insurance entities have diligently prepared for the year 2000 and have devoted an extensive amount of resources to ensure that services to policyholders will not be affected by computer problems," Fitzgerald said. "I am pleased that Michigan consumers' insurance interests are being so vigorously protected by their insurers".

The Michigan Insurance Bureau and the National Association of Insurance Commissioners also have developed a plan to assist consumers and companies in the event that an insurance related Year 2000 problem does occur. A national toll free telephone number call center, a national Web site and a media outreach program are just a few of the services that will be made available to consumers. The Bureau will also complete follow up surveys of all domestic insurance entities after December 31, 1999 to determine how the systems of each company performed during the rollover period. This information will be analyzed to determine how effective each insurance company and health maintenance organization was in preparing for and dealing with the year 2000, and to ensure that consumer needs are being met.

"Consumers do not need to take any extraordinary precautions regarding their insurance coverage for the year 2000. As always, consumers should maintain a copy of all their financial and insurance records, as well as a complete inventory of their personal property," Fitzgerald said. "It is also wise to keep the name and telephone number of your insurance agent and insurance company readily available in the event you need to file an insurance claim. In addition, consumers with health insurance coverage should also have a current membership card in the event they require health services".

Fitzgerald announced earlier this fall that Insurance Bureau internal computer systems are Year 2000 compliant. He also reminded Michigan residents of the Bureau's toll free telephone number (877) 999-6442) should they have any questions or concerns about their insurance coverage.

The Michigan Insurance Bureau is the primary regulator for over 1,526 domestic, foreign and alien companies. The Bureau is 100% fee-funded, requiring no public tax dollars for its supervisory, regulatory, licensing, and enforcement activities. The Insurance Bureau is placed within the Michigan Department of Consumer and Industry Services.