Florida Office of Insurance Regulation relaxes rules due to coronavirus

The Florida Office of Insurance Regulation (OIR) has released a set of guidelines for insurers to follow during the coronavirus. They provide greater leniency to policyholders in the light of complications caused by the crisis.

Insurers are being encouraged to be flexible with premium payments in order to avoid a lapse in coverage. This flexibility can include relaxing due dates; extending grace or reinstatement periods; waiving late fees and penalties; and allowing payment plans.

In light of the fact that many restaurateurs are using their own vehicles to deliver food during the crisis, regulated entities are being encouraged to consider allowing this commercial use, provided that such use is limited to the duration of the emergency orders.

They are also being encouraged to explore virtual options for underwriting and adjusting claims in lieu of in-person property inspections and for premium audits of employers’ records.

As regulated entities move employees into telework arrangements, OIR is encouraging the acceptance of electronic communications in the place of handwritten statements.

Regulated entities are encouraged to use email to initially arrange teleconferences with OIR staff, as many OIR staff will be in telework arrangements and may not be accessible via their normal OIR phone number.

OIR is granting a 30-day extension for any annual statements due to be filed with OIR by a regulated entity on or before May 1, 2020, for certain health maintenance organisations, insurance administrators, continuing care providers and multiple-employer welfare arrangements.

OIR added that it will accept electronic signatures and electronic notarisations that comply with Chapters 668 and 117, Florida Statutes, or equivalent laws in the regulated entity’s domiciliary jurisdiction, on documents regulated entities are required to file with OIR through May 1, 2020.