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Talking as a computer systems amateur. An explanation of how the Y2K problem arose. Examples of what might go wrong. Our growing dependence on embedded systems. Two extreme schools of thought about the impact of Y2K on society, and the speaker's response. Some predictions. Requirements to take care of the problem. The position of the insurance industry in this environment. Lawsuits related to the Y2K problem. Problems faced by the insurance industry of enormous magnitude in recent history related to widespread losses. How insurance works. The unique situation of Y2K for the insurance industry. Whether or not there is Y2K coverage already included within the insurance market's standard products. Actions taken by the insurance markets, or proposed to be taken, with a brief discussion of each: Full exclusion; Limited exclusion; Totally ignoring the subject; Offering specific millennium products. Hard decisions to be made over the next six months. The irony of the problem. One further warning from the speaker.