The Oregon Department of Consumer and Business Services’ Division of Financial Regulation has issued an insurance emergency order for people affected by the state’s wildfires.
Insurance companies must immediately take steps to do the following until the order is no longer in effect:
- Extend all deadlines for policyholders to report claims or submit other communications related to claims
- Take all practicable steps to provide opportunities for policyholders to report claims
- Establish a grace period for premium payments for all insurance policies issued, delivered, or covering a risk in the affected areas
- Suspend cancellations and nonrenewals
The order applies to several ZIP codes across the state. The division’s bulletin No. DFR 2020-16 provides a list of ZIP codes that are subject to the order.
Topics Catastrophe Natural Disasters Wildfire
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