COVID-19 Orders from the NC Department of Insurance Affecting Insurance Companies and Representatives
On March 27, 2020, and again on March 30, 2020, Mike Causey, Insurance Commissioner at the North Carolina Department of Insurance issued Orders that N.C.G.S. § 58-2-46 be effective across all North Carolina counties. The Orders are effective until April 26, 2020, and apply to all insurance companies including service corporations, HMO, MEWA, surplus lines insurers, underwriting associations, premium finance companies, collection agencies, and all other persons subject to N.C.G.S. Chapter 58. All companies subject to N.C.G.S. Chapter 58 are required to provide their customers, who request deferrals for premiums and all debt payments, with a deferral of 30 days. It is up to the customer to notify his or her insurance company (or other entity) that he or she wishes to exercise the option to defer payments. Any collection activity should cease for 30 days, should the consumer request a deferral. No late fees or additional fees will apply. Further, agencies, including collection agencies and law firms, must delay collection activities on behalf of their clients until April 26, 2020.
On March 31, 2020, the Commissioner extended the submission of the annual disclosure statements for Continuing Care Retirement Communities to June 30, 2020.
On April 3, 2020, the Agent Services Division stated it is temporarily unable to issue temporary licenses or add new lines of authority to existing licenses because testing centers are closed. Also, the continuing education compliance period has been extended through June 30, 2020, and all previously approved continuing education courses may be offered via webinar.
03-31-20 Order re: Extension to Submit Annual Disclosure Statements
04-03-20 NC DOI Memo re: Licensing & Education
Feel free to contact our Insurance Coverage Services team with any questions regarding the above orders and compliance.
This update provides general information and does not provide tailored legal advice or establish an attorney-client relationship.