MI| The bulletin applies to automobile insurers that plan to issue refunds or premium waivers to their customers as a result of the COVID-19 crisis and advises them of the filing requirements for these plans. In light of the COVID-19 emergency, DIFS will expedite its review and urges insurers to submit the following information as soon as possible.
DIFS has created a special filing type of “COVID-19 Refund/Premium Waiver” in SERFF. Filing requirements are detailed on the Supporting Documentation tab and include the following:
- Filing Memorandum COVID-19
- Actuarial Support
- Policyholder Notices
- Policy Forms