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
Oklahoma: On June 18, the Oklahoma Insurance Department (OID) issued a special notice to Oklahoma insurance companies and licensed insurance professionals regarding temporary producer and apprentice adjuster license applications. As of June 25, 2020, the OID will no longer accept temporary producer and apprentice adjuster license applications.
Property and Casualty Insurance
Nevada: On June 16, the Nevada Division of Insurance (NVDOI) issued a notice to Property and Casualty Insurers regarding the disallowance of new exclusions related to COVID-19, viruses, or pandemics. The Notice informs property and casualty insurers offering coverage for business interruption and related perils that the NVDOI will not approve any new policy or endorsement language containing exclusions of coverage that specifically mention COVID-19, viruses, or pandemics. The NVDOI’s authority to disallow such exclusions stems from the State of Emergency in effect since March 12, 2020. The NVDOI makes the decision to temporarily disallow such exclusions due to the need to protect consumers against unexpected narrowing of previously expected insurance coverage and ambiguity of interpretation of insurance contracts during a time of great uncertainty and financial strain ensuing from the COVID-19 pandemic.
Maine: On June 18, Superintendent Cioppa released Bulletin 450, addressing the state epidemiologists Standing Order (released June 8th) for COVID-19 testing. This Bulletin clarifies that services performed under the authorization of the Standing Order for persons with known exposure or elevated risk factors are deemed “medically necessary” within the meaning of the Health Plan Improvement Act, and are eligible for first-dollar coverage, under the Superintendent’s March 12 order.
Missouri: On June 17, Director Lindley-Myers released Insurance Bulletin 20-17 to provide information to health carriers interested in offering premium relief programs (such as premium adjustments, premium reimbursements, premium credits or premium holidays). Health carriers that have already instituted a premium relief program and those seeking to offer a premium relief program in the future are required to provide information about their plans to the Department.
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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