Vorys (Ohio/Texas): Ohio Department of Insurance Issues Bulletin 2020-07: Property and Casualty, Life, and Long Term Care Insurance Premium Payments During State of Emergency

In response to the COVID-19 pandemic and Ohio Governor Mike DeWine’s declaration of a state of emergency in Ohio (See Executive Order 2020-01D), the Ohio Superintendent of Insurance (the Superintendent) issued Bulletin 2020-07 and ordered and directed, effective March 30, 2020, that all insurers (Insurers) issuing property and casualty, life, and long term care insurance policies (Policies) in the State of Ohio provide their insureds with at least a 60-day grace period to pay insurance premiums during the state of emergency.  This means Insurers are required to offer payment accommodations, such as allowing consumers to defer payments at no cost, extending payment due dates, or waiving late or reinstatement fees, where consumers are unable to make timely payments of premium or fees due to COVID-19-related disruptions. MORE.

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