In conjunction with the Locke Lord COVID-19 task force, we are reviewing, analyzing, and compiling regulatory updates to provide clients easy access to information during this unprecedented time. If you have any questions on the subject matter below, do not hesitate to reach out. The information below relates to state and federal bulletins, emergency orders, pending/enacted legislation, and other related actions taken in response to the COVID-19 pandemic.
Property and Casualty Insurance
New Jersey: On June 8, the New Jersey Department of Banking and Insurance issued an updated FAQ related to Premium Refund Bulletin No. 20-22 and Order A20-03, which required insurers to make an initial premium refund or other adjustment to all adversely impacted New Jersey policyholders and to provide bi-weekly claim and premium activity reports to the Department.