COVID-19 Daily Insurance Regulatory Updates To Keep You Informed During The Lockdown (June 17 2020)


    In conjunction with the Locke Lord COVID-19 task force, we are reviewing, analyzing, and compiling regulatory updates to provide clients easy access to information during this unprecedented time. If you have any questions on the subject matter below, do not hesitate to reach out. The information below relates to state and federal bulletins, emergency orders, pending/enacted legislation, and other related actions taken in response to the COVID-19 pandemic.

    All Lines of Insurance

    Louisiana: On June 12, Louisiana enacted Senate Bill 491, providing civil liability immunity for emergency efforts and to volunteers who provide products during a state of emergency.

    Louisiana: On June 13, Louisiana Gov. John Bel Edwards signed into law H.B. 826, a bill that limits liability for businesses that could face lawsuits related to COVID-19 exposure. The Bill prohibits gross negligence and willful misconduct liability for people who own real estate or premises, entities or people who provide assistance or advice to the public, those who work in health care or aid in emergencies, those who work in government, and those who distribute, manufacture, or aid in applying personal protective equipment, and bars suing employees covered by workers compensation unless exposure to COVID-19 was “intentional.”

    Washington: On June 17, Commissioner Kreidler issued a press release, stating that due to devastating economic impact of the coronavirus pandemic and the need to end racial discrimination in our institutions, the insurance industry should end its unfair and discriminatory practice of using credit scoring in auto, property, renters and life insurance. The Commissioner is asking the Legislature to amend two state laws that currently allow insurance companies to help determine rates for consumers in Washington.

    Property and Casualty Insurance

    California: On June 17, Commissioner Lara issued an order adopting emergency workers’ compensation regulations in response to the COVID-19 pandemic. The new regulations will mandate insurance companies to recompute premium charges for policyholders to reflect reduced risk of loss.

    Michigan: On June 17, the Michigan Department of Insurance and Financial Services issued Order No. 2020-11-M, requiring workers’ compensation insurers who have not already submitted a filing for, and have not yet implemented, a COVID-19-related adjustment, credit, or endorsement, to submit a filing, or explain why they have not issued an adjustment, credit, or endorsement.

    Visit our COVID-19 Resource Center often for up-to-date information to help you stay informed of the legal issues related to COVID-19.

    The post COVID-19 Daily Insurance Regulatory Updates To Keep You Informed During The Lockdown (June 17, 2020) appeared first on Insurance & Reinsurance.

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