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.
Property and Casualty Insurance
Maryland: On July 13, as a result of APCIA inquiries, the Maryland Insurance Administration (MIA) clarified certain aspects of Bulletin 20-28, regarding the cancellation of property and casualty insurance policies due to non-payment of premium during the COVID-19 pandemic. In an email to APCIA, the MIA stated, “the MIA recognizes that because of COVID-related forbearance, some policies will have crossed a renewal date and be in force with an outstanding earned premium balance from the prior policy period. In such situations, when an insurer receives a payment it must apply at least the minimum amount due to keep the current policy period in force before applying funds to the balance due on the prior period.”
Texas: On July 13, the Texas Division of Workers’ Compensation issued a bulletin stating, due to COVID-19 and increased telecommuting, DWC will be forwarding all field office mail to the DWC headquarters in Austin. For quicker processing times, DWC encourages system participants to:
Kansas: On July 13, Commissioner Schmidt alerted consumers of improper charges for COVID-19 testing, in which health insurers have not followed federal law requiring testing of COVID-19 without cost sharing. Insurers should review their billing procedures and ensure they are complying with federal law.
The post COVID-19 Daily Insurance Regulatory Updates To Keep You Informed During The Lockdown (July 13, 2020) appeared first on Insurance & Reinsurance.
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