COVID-19 Daily Insurance Regulatory Updates To Keep You Informed During The Lockdown (June 1, 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

    The mandatory grace periods or premium deferral and/or moratoria on termination for non-payment expired today in the following states:

    Alaska (June 1)

    Connecticut (June 1)

    Property and Casualty Insurance

    Oklahoma:  On May 29, Governor Stitt issued Executive Order 2020-20 extending the state of emergency from June 11 to June 29.  As part of the Executive Order the duration of OK PC Bulletin No. 2020-01 (March 20, 2020 and April 6, 2020) is extended.  Bulletin No. 2020-01 suspended claims reporting deadlines; applied a 45-day grace period for the payment of premiums to premium-finance arrangements; and required insurers to extend policyholder rights and benefits related to deadlines until 90 days after the expiration of the governor’s emergency declaration.

    Health Insurance

    Washington:  On June 1, Commissioner Kreidler issued Emergency Order 20-06, instructing all health carriers authorized or admitted to offer health plans or short term limited duration medical plans in Washington State, to hold harmless Washington-resident enrollees form balance billing for lab fees related to medically-necessary diagnostic testing for COVID-19.

    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 1, 2020) appeared first on Insurance & Reinsurance.

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