03/23/2020
COMMISSIONER KING ISSUES THIRD COVID-19 DIRECTIVE
Today’s Directive – the third released so far from the Commissioner’s Office – instructs property and casualty insurers not to cancel any commercial policies for non-payment, particularly those dealing with business interruption or business income coverage, for the next 60 days. It also calls on health insurers to refrain from canceling policies for non-payment until further notice.
The Directive also alerts insurers that the Commissioner’s Office is halting all in-person, onsite exams, audits, and licensing requirements, while temporarily suspending all non-federal filing deadlines and applicable late filing fees until business operations return to normal. Additionally, the Commissioner will offer immediate and expedited review for any insurance products that are critical due to the COVID-19 outbreak and its effects.