April 14, 2020
On March 27, 2020, the Insurance Commissioner Causey issued Bulletin Number 20-B-06 following a major disaster declaration in the state due to the coronavirus (COVID-19) pandemic. The bulletin was issued to all insurance companies and other entities licensed under the state’s insurance laws.
The bulletin follows President Trump’s approval of the major disaster declaration on March 25, 2020. As a result, the Commissioner Causey issued an order that activated an automatic stay of premium and debt deferrals for the state’s residents in accordance with North Carolina General Statutes 58-2-46.
Accordingly, insurance companies are required to provide insureds adversely affected by the pandemic with specific relief with respect to premium payments, submission of claims and other obligations. Additionally, entities subject to the state’s external review laws shall allow those impacted by the disaster additional time for their requests or any additional information required to be received and reviewed.
The memo is directed at insurers, but employers should be aware of this development.
Bulletin Number 20-B-06 »