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COVID-19 Weekly Insurance Regulatory Updates To Keep You Informed During The Lockdown (October 26-30, 2020)

Insurance & Reinsurance Blog
November 3, 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

Michigan: On October 26, Michigan issued Bulletin 2020-43-INS, which supersedes Bulletins 2020-12-INS, 2020-14-INS, and 2020-22-INS. The Bulletin which reminds individuals and entities subject to the Department of Insurance and Financial Services (DIFS) regulation that they are expected to comply with any applicable law, rule, or regulation related to the public health emergency caused by the COVID-19 pandemic.

Michigan: On October 27, Michigan issued Bulletin 2020-44-INS which supersedes Bulletins 2020-08-INS and 2020-17-INS, and provides for certain temporary regulatory flexibility for the insurance industry relating to filing deadlines and requirements and meeting requirements in response to the Michigan Department of Health and Human Services emergency order issued October 9, 2020 (concluding that the COVID-19 pandemic continues to constitute an epidemic in Michigan).

Property and Casualty Insurance

Oregon: Effective October 24, the Oregon Department of Consumer and Business Services and Insurance Regulation issued an adopted rule to amend OAR 836-042-0045 to provide an update regarding the COVID-19 statistical plan for workers’ compensation and employers’ liability insurance.

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