SALEM — The Oregon Department of Consumer and Business Services issued a temporary emergency order on Wednesday requiring all insurance companies to extend grace periods for premium payments, postpone policy cancellations and nonrenewals and extend deadlines for reporting claims, according to a press release from the Oregon Department of Consumer and Business Services.
“During this crisis, we must all do our best to help Oregonians focus on staying healthy, care for their families, and prevent the spread of the coronavirus,” said Andrew Stolfi, insurance commissioner. “Many of our insurers have already stepped up and done the right thing. This order will ensure every Oregonian who needs it has relief from these insurance policy terms, giving them a measure of security and stability.”
The COVID-19 outbreak has caused widespread business closures, job losses and social distancing measures. The severe disruption to business in the state includes some Oregonians’ ability to make insurance premium payments, report claims and communicate with insurance companies.
The order is effective immediately, and will be in force through at least April 23, the press release said. If necessary, the department may extend the duration of the temporary order.