The Oregon Department of Consumer and Business Services’ Division of Financial Regulation has issued an amended wildfire emergency order.
The amended order means that insurance companies must immediately take steps to do the following until the order expires:
- 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
- Immediately institute 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 division also issued bulletins to provide an updated list of ZIP codes for which the order applies and provide specific guidance for health and property and casualty insurers.
Was this article valuable?
Here are more articles you may enjoy.