For Benefits Compliance specific state updates for Hawaii click here.
Commissioner Issues Memorandum Concerning Premium Grace Periods
April 17, 2020
On, March 27, 2020, the Hawaii Insurance Commissioner issued Memorandum 2020-3I to all admitted and nonadmitted insurers encouraging them to work with their insureds to ensure coverage continues during this time, policies do not lapse, and to consider the following:
- Refrain from cancelling or nonrenewing policies due to nonpayment during this time of hardship and to grant a grace period for premium payments to be made.
- Work with insureds on a structured payment plan for late premium payments.
- Waive late fees and penalties.
- Extend timeframes to complete property and automobile inspections or undergo medical examinations.
- Continue working with insureds for a period of 60 days after this health emergency has passed, or as long as reasonably practical.
HI Memorandum 2020-3I
INSURANCE DEPARTMENT POSTS COVID-19 BUSINESS INSURANCE FAQs
April 24, 2020
On April 4, 2020, the Hawaii Insurance Division posted frequently asked questions related to business interruption insurance including resources and considerations as it relates to acquiring new policies, coverage under current policies, coverage due to government closures, cleaning supplies coverage, closures due to sick employees and workers’ compensation coverage for employees who test positive for COVID-19.
HI BI FAQs
INSURANCE DEPARTMENT ISSUES BULLETIN CONCERNING PREMIUM GRACE PERIOD
May 08, 2020
On April 27, 2020, the Hawaii Insurance Department issued Memorandum 2020-4A in which it encouraged carriers to consider adopting the following:
- Waive fees, penalties or other charges relating to an insured’s temporary inability to submit premium payments.
- Extend grace periods for payment of premiums.
- Grant additional time to policyholders to pay premiums before nonrenewals or cancellations become effective.
- Extend proof of loss submission deadlines to claimants.
- Allow self-auditing and self-reporting in replace of physical audits.
- Encourage policyholders to use electronic payment technology on websites, apps and electronic bank transfers.
HI Memorandum 2020-4A
COMMISSIONER ISSUES MEMORANDUM TO EXTEND PRIOR GUIDANCE ON WAIVERS DURING THE PANDEMIC
September 04, 2020
On July 17, 2020, the commissioner issued Memorandum 2020-9A in which it extended prior Memorandum 2020-4A indefinitely, until determined otherwise by the department.
HI Memorandum 2020-9A