Alaska Directs Carriers to Provide Consumer Relief Following Severe Weather

Alaska Directs Carriers to Provide Consumer Relief Following Severe Weather

On September 17, 2022, Governor Mike Dunleavy issued a disaster declaration for the storm currently impacting the west coast of Alaska. The Department of Commerce, Community, and Economic Development, Division of Insurance, issued Bulletin B22-06 on September 19, 2022 as part of the statewide coordinated response to communities impacted by the record storm.

Among other things, the Bulletin directs carriers to provide relief to affected policyholders by offering an extension to premium grace periods of at least two weeks in order to allow continuing insurance coverage.The extension of the grace period does not eliminate the obligation to pay the premium, but limits policy cancellation for late payment. Carriers are encouraged to work with policyholders in the collection of premiums as electronic payment methods may not be operating correctly in the aftereffects of the floods. 

Additionally, the Bulletin reminds insurers of statutory requirements related to the investigation of claims and Bulletin B 18-17 regarding dominant cause of loss.

If you have questions related to Bulletin B22-06, please contact Sian Ng-Ashcraft, Property and Casualty Supervisor at sian.ng-ashcraft@alaska.gov.

 

Link to Bulletin B22-06