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 department made a similar extension announcement in June.
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 people by mandating how long claims must be paid.
Three of the orders – long-term care, life and disability, and the order for all other lines of insurance – will be extended until Aug. 21.
The property/casualty order will be extended until July 31. The division is working with industry representatives to update the property/casualty order. The division plans to issue a new property/casualty order by Aug. 1.
The emergency order extensions can be found on the division’s COVID-19 regulated businesses page.
Topics Property Casualty
Was this article valuable?
Here are more articles you may enjoy.
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
Intersecting Risks and the Future of Construction Insurance 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
