APRIL 21, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
Most updates today revolve around states continuing to offer either temporary producer licenses or making accommodations for continued education. Additionally, a handful of states are continuing to issue bulletins urging insurers to be flexible and accommodating with their insureds. REMINDER: We…
Shelter-In-Place Orders Spur Regulator Calls for Policyholder Refunds
April 21, 2020
by Burnie Burner
As COVID-19 shelter-in-place orders keep businesses closed and drivers off the road, the risk of loss normally associated with driving or operating a business has decreased. As a result, personal lines auto insurers have begun to voluntarily return premium to policyholders by automatically…
APRIL 17, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
As a number of statutory filings deadlines draw near, many insurance departments took the opportunity this week to provide regulatory flexibility addressing when and how a number of filings are made. States continue to issue bulletins urging insurers to assist consumers in various ways including…
APRIL 14, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
As a growing number of auto insurers announce premium relief for policyholders regulators are responding by publicly praising the decisions. Guidance is being provided on how to ensure such actions comply with state insurance anti-rebating laws. Regulators also continue to develop and update…
APRIL 10, 2020 UPDATE: Survey of State Insurance Department COVID-19 Regulatory Actions
While the pace of COVID-19-responsive regulatory action has slowed this past week, there was an increase in the number of states addressing and/or encouraging auto insurance discounts and/or premium relief to reflect exposure reductions generated by stay-at-home orders. Aside from that, states…