Alert provided courtesy of our partners at CSNW Benefits
The Oregon Department of Consumer and Business Services issued a temporary emergency order on March 25, 2020 in response to the COVID-19 outbreak. It requires all insurance companies to extend grace periods for premium payments, postpone policy cancellations and nonrenewals, and extend deadlines for reporting claims.
Insurance companies must take steps immediately to do the following until the order is no longer in effect:
- Institute a grace period for premium payments on all insurance policies issued in the state
- Suspend all cancellations and nonrenewals for active insurance policies
- Extend all deadlines for consumers to report claims and communicate about claims
- Provide consumers the ability to make premium payments and report claims while maintaining safe social distancing standards
Cascade is actively monitoring this situation, and will continue to provide additional guidance as more clarifications are issued. Please do not hesitate to reach out if you have any questions. Our team is prepared to answer your questions.