For Benefits Compliance specific state updates for North Carolina click here.
INSURANCE COMMISSIONER ISSUES BULLETIN ORDERING PREMIUM RELIEF
April 16, 2020
On March 27, 2020, the North Carolina Insurance Commissioner issued Bulletin Number 20-B-06 to all insurance companies, including surplus lines carriers, in which it noted that due to the fact that on March 27, 2020, the commissioner issued an order that activated the state of disaster, insurers are required to provide their customers adversely affected in the disaster area specific relief of the insureds’ payment, submission of claims and other responsibilities.
NC Bulletin 20-B-06
INSURANCE COMMISSIONER ISSUES BULLETIN EXTENDING PREMIUM RELIEF ORDERS
April 24, 2020
On April 21, 2020, the North Carolina Insurance Commissioner issued Bulletin Number 20-B-07 to all insurance companies in which it outlined the extension of the prior order by the Insurance Commissioner concerning premium grace periods to 30 days from April 27, 2020.
NC Bulletin Number 20-B-07
INSURANCE COMMISSIONER ISSUES BULLETIN WITH FAQS ON PREMIUM RELIEF ORDERS
May 08, 2020
The North Carolina Insurance Commissioner issued a bulletin which listed several FAQs pertaining to its prior bulletins on premium relief orders, including but not limited to the following questions:
- Do the Commissioner’s Order and Extended Order apply to policies cancelled for nonpayment of premium?
- Who is required to comply with the Order and Extended Order?
- Do the Commissioner’s Order and Extended Order apply to policies that an insurer plans to cancel for underwriting reasons such as material misrepresentation?
- After the Order and Extended Order expire, will the policyholder or consumer be responsible for bringing the policy or account current?
- When do the Order and Extended Order expire?
- Are premium or debt deferrals automatically applied/given?How do collection agencies address debt payments that are already in default prior to the Commissioner’s Order and Extended Order being issued?
- Can late fees and additional fees be applied to an account?