Weather related event or other disaster

CT state seal STATE OF CONNECTICUT INSURANCE DEPARTMENT THIS BULLETIN HAS BEEN RENUMBERED TO “BULLETIN IC-31” BULLETIN IC – 33 June 25, 2013 TO: ALL INSURERS, LICENSEES AND INTERESTED PARTIES RE: WEATHER-RELATED EVENT OR OTHER DISASTER In the event of a significant weather-related event or other disaster for which the Governor declares a state of emergency in Connecticut, it is the position of the Connecticut Insurance Department that all insurers and licensees in the state shall handle insurance claims and related matters for insured disaster victims throughout the duration of the Governor’s declaration, as follows: 1. Processing of Claims Promptly and in good faith adjust and satisfy all insurance claims directly resulting from the weather-related event taking into account the magnitude and circumstances surrounding this disaster. The Department would expect that insurers, licensees and interested parties take the following actions upon receiving notice of a claim: • promptly establish contact with the claimant; • promptly survey and assess the claimant’s damage; • provide prompt and accurate responses to claimants; • provide prompt payment for additional living expenses and for temporary repairs after the assessment of the insured’s damage; and • promptly set appointments with the claimant for examination and resolution of all claim matters. Insurers and licensees are advised that they are allowed an additional reasonable period of time to process such storm-related claims taking into account the magnitude and impact of the disaster. Insurance Commissioner's signature 2. Suspending Premium Payments Suspend the payment and collection of premiums to allow continuing insurance coverage for consumers. In conjunction with this effort, the Department will work with insurers to minimize the regulatory effects of an insurer’s suspension of premium payments, specifically in regard to financial review requirements. The term “suspension” is not intended to mean forgiveness of the premium. Rather, it is intended that the insurer grant the policyholder an extended grace period for the payment of any premium due. Insurers are encouraged to work with policyholders in the collection of premiums, including payment plans. The normal premium debits from financial institutions may continue in place according to the insurer’s written agreement with the policyholder, unless a problem exists with premium debits or a policyholder’s specific hardship directs an insurer otherwise. This should be weighed against the potential disruption to an insurer’s business model or the inconvenience caused to the policyholder by multiple payments. It is the expectation of the Department that any problems resulting from this issue will be resolved between the parties without a complaint being filed. This would include an insurer working with a policyholder to minimize effects of any penalties or charges associated with premium debits. For more information or questions concerning this Bulletin or the disaster, please contact: cid.ca@ct.gov OR (800) 203-3447. Thomas B. Leonardi Insurance Commissioner -2-