Oregon Department of Consumer and Business Services’ Division of Financial Regulation Issues Wildfire Emergency Order

Oregon Department of Consumer and Business Services’ Division of Financial Regulation Issues Wildfire Emergency Order

 

On September 18th, the Director of the Oregon Department of Consumer and Business Services ("Director") issued a Wildfire Emergency Order (link below) directed to all admitted insurers that provide any type of insurance coverage in Oregon, including life & health, property & casualty, and all other lines of insurance. The Order applies to all insurance policies issued, delivered, or covering a risk in the affected geographic areas. Bulletin No. DFR 2020-16 (link below) informs insurers of the affected areas, specified by zip codes, that are subject to this Order. Insurance companies must immediately take the following steps: 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 payment for all insurance policies issued, delivered, or covering a risk in the affected areas; and Suspend cancellations and nonrenewals.

 

This Order takes effect on Sept. 18, 2020, and will be in force through Oct. 17, 2020, but the director may extend the duration of the Order.

 

Link to Order

Link to Bulletin