OCI Bulletin of March 20, 2020, Complying with Regulatory Requirements during the Public Health Emergency

The record

Jurisdiction

Wisconsin

Level

Sector regulator

Authority

Wis. Stat. ch. 601; Executive Order 72 (Mar. 12, 2020)

Issued

2020-03-20 Mar. 20, 2020

Effective

2020-03-20

End

for the pendency of the public health emergency (Wisconsin State file, WI-041) (read as 2020-06-30)

In force

Mar. 20, 2020 to June 30, 2020

Quarters

2020 Q2

2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3

Limitation types

Other

Addressees

• insurers, agents and interested parties

Functions reached

• IN (premium flexibility; rate and form filings; examinations)
• OP

Collection

Financial Services SEC-13

Operative words

Insurers are encouraged to offer flexibility to insureds who are incurring economic hardship. This flexibility can include offering non-cancellation periods, deferred premium payments, premium holidays and acceleration or waiver of underwriting requirements. OCI will not view any accommodations made to insureds incurring economic hardship during the COVID-19 public health emergency as violating insurance laws such as unfair inducement prohibitions.... during the pendency of the public health emergency related to COVID-19, all filings that are deemed approved if OCI does not disapprove the filing within a certain period of time are hereby disapproved.... OCI will not conduct any on-site examination work that is contrary to the spirit of any public health directive.

Enforcement

Notes