Department of Commerce and Insurance Issues Coronavirus Bulletin

On March 24, 2020, the Department of Commerce and Insurance issued Bulletin 2020-03 to carriers writing insurance coverage in the state. The bulletin pertains to the maintenance of insurance coverage during the coronavirus (COVID-19) pandemic.

Due to the significant economic disruptions and health concerns resulting from the COVID-19 crisis, state employers and individuals have been substantially impacted. The bulletin urges that flexibility be provided to insureds to enable coverage continuation.

Specifically, the carriers are advised to work with policy holders who have concerns about their ability to timely pay premiums and to explain all options to maintain coverage. These insureds should be made aware of applicable grace periods that may allow for delayed premium payments without loss of coverage. The Bulletin also asks carriers to consider the elimination of late premium payment fees, and to explore ways to streamline administrative procedures to facilitate continuous coverage.

The memo is directed at insurers, but employers should be aware of this communication.

Bulletin 2020-03 »