DOI’s Respond to Impact of Storms

DOI’s Respond to Impact of Storms

In response to severe storms and flooding that have affected several states the following bulletins have been issued:

Arkansas Bulletin NO. 4-2019: The Arkansas Insurance Department has issued a sixty (60) day moratorium on the cancellation/non-renewal of policies for the non-payment of premiums for Arkansans residing in affected areas. This moratorium shall apply to all insurance policies issued in this state. The 60-day moratorium period, where requested by the policyholder, shall commence effective May 21, 2019.

Missouri Bulletin 19-05: The Missouri Department of Insurance Director issued a bulletin to assist individuals and entities regulated by the Department in effectuating the provision of insurance related services during this emergency in the impacted counties. The Director strongly encourages those entities listed in the bulletin to voluntarily adhere to the practices listed during the time period that the bulletin is in effect. Coverage for insureds impacted by the tornadoes and severe weather to continue under all insurance policies in effect proceeding the severe storms occurring on and after May 22, 2019 and to remain in effect until such time as this bulletin is rescinded. Insurers are asked not to cancel, non-renew or terminate coverage during this period of emergency for impacted consumers.

Ohio Bulletin 2019-03: The purpose of this Bulletin is to notify companies of the request of the Superintendent of Insurance that companies allow their insureds to defer premium payments coming due and extend any and all provisions imposing time constraints within which insureds must take certain action. All insurance companies and other entities transacting the business of insurance in the State of Ohio are to give their insureds affected by this disaster the option of deferring premium payments coming due, interest free, for up to 60 calendar days from the original premium due date.

Oklahoma Bulletin NO. 2019-EXEC-01: The Commissioner issued this Bulletin to assist consumers and individuals and entities regulated by the Oklahoma Insurance Department as they deal with the exigencies caused by the May 2019 storms. Insurers may not cancel, non-renew, or terminate coverage in the affected areas while this Bulletin is in effect. This period of time is a grace period during which consumers can take those actions necessary to keep their policies in force. Further, insurers may not cancel, refuse to renew, or increase the premium of any homeowner's insurance policy or any other personal residential insurance coverage, which has been in effect more than forty-five (45) days, solely because the insured filed a first claim against the policy. Coverage for insureds in the affected areas shall continue under all insurance policies in effect immediately preceding the severe storms occurring on and after the third week of May and shall remain in effect until such time as this Bulletin expires. Failure to comply with the requirements of the Bulletin may subject an individual or entity to penalties authorized in Title 36 Oklahoma Statutes.

 

Links to Bulletins

Arkansas

Missouri

Ohio

Oklahoma