Lincoln National Corporation
Continuity plan summary
Lincoln National Corporation “LNC” headquartered in Radnor, PA, is the parent corporation of, among others, The Lincoln National Life Insurance Company, First Penn-Pacific Life Insurance Company (“FPP”) and Lincoln Life & Annuity Company of New York (“LNY”). LNC’s subsidiaries have offices located in Atlanta, GA; Concord, NH; Fort Wayne, IN; Greensboro, NC; Hartford, CT; Omaha, NE; Philadelphia, PA; Rolling Meadows, IL; and Syracuse, NY. Lincoln Financial Advisors Corporation, Lincoln Financial Distributors, Inc. (“LFD”), and Lincoln Financial Securities Corporation have business locations throughout the USA. Unless the context otherwise implies, as used herein LNC refers to LNC and its subsidiaries.
LNC is committed to safeguarding the interests of its clients and customers in the event of an emergency or significant business disruption ("SBD"). LNC’s broad business continuity strategy is designed to enable LNC to meet its existing obligations to its clients and customers in the event of an emergency or SBD by safeguarding employees and property, making a financial and operational assessment, recovering and resuming operations, protecting all of LNC’s books and records, and allowing customers to conduct business.
Business continuity planning
LNC has a documented corporate policy requiring each Business Unit to develop a business continuity plan. In support of this policy, LNC’s Business Resilience area has the full-time responsibility of coordinating the development, testing and maintenance of all LNC Business Continuity Plans. Business Resilience also manages contracts with recovery services vendors and is responsible for management reporting on all aspects of continuity. A formal systematic process with auditable controls enforces the corporate policy on continuity.
LNC’s Business Continuity Plans address advance preparations and actions to be taken in response to disruptions of various magnitudes. The Business Continuity Plans address the potential impact of varying risks of disruptions to LNC employees, equipment, computer and telecommunications systems, and office facilities. While it is impossible to anticipate every type of disruption that could affect LNC’s businesses, LNC takes an ‘all hazards’ approach to planning which encompasses reduction in workforce, loss of facility and loss of data.
Local crisis management teams are in place in all LNC locations. These local crisis teams are charged with recording and managing any potential or actual crisis at the site from the time a situation occurs to the resolution of the incident and resumption of normal business operations.
Backup and recovery
LNC maintains back-up systems and power supplies that allow critical computer and telecommunications systems and facility functions to be maintained in the event of minor, local disruptions. The duration of the disruption will depend on the nature and extent of the emergency or SBD.
In the event of an SBD, where it is not possible to conduct business from one of LNC’s offices, the company has contracted with a recovery services vendor for use of a remote alternate site equipped with resources to support critical business operations.
LNC’s Business Continuity Plans are reviewed as necessary, and at least annually, to ensure they account for technology, business, operations, structure or location.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Certain affiliates act as the administrative agent for CIGNA Life Insurance Company and Connecticut General Life Insurance Company.