The Oregon Department of Consumer and Business Services’ Division of Financial Regulation extended its emergency orders for property and casualty, long-term care, and life and disability insurance.
The orders mean that the most common insurance policies, such as auto, home, term, and whole life, and long-term care, provide one-time minimum grace periods for people to pay premiums and protect people by mandating how long claims must be paid. See this chart for details.
Three of the orders – long-term care, life and disability, and the order for all other lines of insurance – will be extended until Aug. 21, 2020.
The property and casualty order will be extended until July 31, 2020. The division is working with industry representatives to update the property and casualty order. Extending the current order through the end of the month provides time to finalize a new order that better reflects current needs while protecting Oregonians who are unable to pay their insurance premiums because of the pandemic. The division plans to issue a new property and casualty order by Aug. 1.
The emergency order extensions can be found on the division’s COVID-19 regulated businesses page.
Consumers can visit the division’s COVID-19 consumer page for more information about emergency orders and additional insurance and financial services topics.