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Ex. SEC-13-080 Order Primary source read

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

Complying with Regulatory Requirements during the Public Health Emergency (policyholder flexibility; deemed-approval filings disapproved; on-site examinations)

Commissioner of Insurance Mark V. Afable (Office of the Commissioner of Insurance) · Wisconsin (Sector regulator)

The COVID Project

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
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

Regulator's bulletin; the deemed-approval disapproval operates with legal effect on filings

Notes

Same instrument as WI-041.