ODI Rescinds COVID-Related Bulletins; Issues New Bulletin Encouraging Insurer Flexibility

On June 18th, Gov. DeWine ended the state of emergency in Ohio. As a result, the Ohio Department of Insurance has rescinded all COVID-related bulletins. Additionally, they have a new bulletin, Bulletin 2021-03, which simply encourages (but does not require) insurers to continue to provide payment and cancellation flexibility for those experiencing financial difficulties during the COVID-19 global pandemic.

The bulletin states that “the Superintendent encourages Insurers to provide their insureds with a grace period to pay insurance premiums. Additionally, the Superintendent encourages Insurers to consider offering 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 COVID19 related disruptions.”

For any questions or concerns, please contact Carolyn Mangas at carolyn@ohioinsurnaceagents.com.

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