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
Pennsylvania: On June 27, the Pennsylvania Insurance Department issued Notice 2020-17 to all licensed insurance companies in this Commonwealth to provide clarity on the Insurance Department’s (Department) acceptance and review of filings made by regulated entities. On March 19, the Department issued Notice 2020-05 which stated that due to the Department’s transition from at-office work to tele-work the Department was requesting that all licensed entities review current and proposed filings and to only submit filings which were necessary or essential. Currently, the Department has completed its transition from at-office work to tele-work and has full operational capabilities to review all filings, whether essential or non-essential. As such, the Department advises licensed entities that have current or proposed filings to submit these filings to the Department in the ordinary course.
Texas: The Texas Department of Insurance issued guidance extending the time frame in which financial filings can be submitted to its office without sworn statements, affidavits, and notarizations from June 30 to July 31, 2020.
Property and Casualty Insurance
Texas: On June 26, the Texas Department of Insurance issued Order No. 2020-6373 approving the National Council on Compensation Insurance’s filing, “Item U-1401—Nature and Cause of Injury Codes for COVID19 (Coronavirus) Claims.” Item U-1401 changes apply to new and renewed policies effective for COVID-19 claims with accident dates starting on December 1, 2019.
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 26, 2020) appeared first on Insurance & Reinsurance.
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