On Wednesday, March 25, the Oregon Department of Consumer and Business issued a temporary executive order mandating all insurance companies to extend grace periods for premium payments, postpone policy cancellations and nonrenewals, and extend deadlines for reporting claims.
Insurance companies operating in Oregon are ordered to immediately take the following steps and keep such practices in place until the order is no longer in effect:
- Institute a grace period for premium payments on all insurance policies issued in the state
- Suspend all cancellations and nonrenewals for active insurance policies
- Extend all deadlines for consumers to report claims and communicate about claims
- Provide consumers the ability to make premium payments and report claims while maintaining safe social distancing standards.
You can view the official press release here for more information.
Other States Impacted
As always, your Aldrich Benefits team is here to provide support for you however we can during these rapidly changing times. Our team is closely monitoring the changing landscape of the COVID-19 pandemic and is here to answer your questions. For further information, please contact your advisor. For more employer resources to help you navigate the developing impact of coronavirus on your business, visit our COVID-19 Resource Center.
The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.
Employee Benefits Consultant
Aldrich Benefits LP
Evan Cole partners with his clients to advise and assist them with their employee benefit plans, specializing in group and association plans. Prior to joining Aldrich, Evan was a top producing employee benefits representative for one of the nation’s largest life, disability, and dental carriers. He holds licenses for life and health in the states…
- Employee benefits