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Insurers In Oregon MUST Provide Consumers Protection From Cancellation

Insurers In Oregon MUST Provide Consumers Protection From Cancellation

COVID-19 emergency order

The Oregon Department of Consumer and Business Services issued an emergency order on March 25, 2020. The order provides protection to people and businesses struggling because of the disruptions caused by the COVID-19 outbreak. The order requires all insurance companies to postpone policy cancellations and nonrenewals, extend grace periods for premium payments, and extend deadlines for reporting claims.

Postponement of policy cancellations and nonrenewals is not limited to nonpayment. This provides protection to some people and businesses in need of relief and ongoing insurance coverage.

The Division of Financial Regulation is sharing the frequently asked questions it has received to help insurers comply with the department’s order. The FAQs will be updated regularly.

The division encourages insurers or other stakeholders to submit more questions about the order by email to dfr [dot] policyteam [at] oregon [dot] gov.

Learn More, and Read FAQs