The Oregon Department of Consumer and Business Services’ Division of Financial Regulation extended its emergency orders for property/casualty, long-term care, and life and disability insurance.
The orders mean that the most common insurance policies, such as auto, home, term and whole life, and long-term care, provide one-time minimum grace periods for people to pay premiums and protect them by mandating how long claims must be paid.
The minimum length of grace period for P/C insurance is 60 days, and it’s 60 days for the length of time claims will be paid during the grace period.
The emergency order extensions can be found on the division’s COVID-19 regulated businesses page.
Was this article valuable?
Here are more articles you may enjoy.