The COVID Project
The record
- Jurisdiction
- Rhode Island
- Level
- Sector regulator
- Authority
- R.I. Gen. Laws tit. 27 (insurance regulation); EO 20-02
- Issued
- 2020-03-25 Mar. 25, 2020
- Effective
- 2020-03-25
- End
- Not rescinded within the period (read as 2020-09-30)
- In force
- Mar. 25, 2020 to Sept. 30, 2020
- Quarters
- 2020 Q22020 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- all insurers writing business in Rhode Island
- Functions reached
- IN insurance billing, grace periods and cancellations
- CB policyholders
- Collection
- Rhode Island RI
Operative words
The Rhode Island Insurance Division requests that insurers writing business in our state take the following steps to preserve access to insurance coverage during this emergency: Provide as much flexibility as possible to allow insureds to maintain their existing coverage by implementing and extending grace periods for premium payments, allowing payment plans for premium payments and instituting whatever other measures necessary to assist insureds in avoiding or delaying cancellation or a lapse of insurance coverage.... Insurers should institute additional flexibility in the form of waivers of late, insufficient funds and installment fees and penalties, extension of billing due dates and premium grace periods.
Enforcement
Regulatory bulletin of the insurance regulator (requests; supervisory expectation)
Notes
Regulator's directive in bulletin form; framed as a request.