REQUEST TO ALL INSURANCE COMPANIES REGARDING CONSUMERS AFFECTED BY COVID-19 AND THE EMERGENCY PUBLIC

ST ATE OF NEW MEXICO OFFICE OF SUPERINTENDENT OF INSURANCE SUPERINTENDENT OF INSURANCE Russell Toal OL' 0 (T I-IEW MFXICO ;u'ct+.tt-.:riii Cl illi' IRA!vC t BULLETIN 2020-006 March 20, 2020 DEPUTY SUPERINTENDENT Robert E. Doucette, Jr. n.. 1':71 TO: ALL ADMITTED AND NON-An)MITTED INSURANCE COMPANIES RE: REQUEST TO ALL INSURANCE AFFECTED BY COVID-19 AND MEASURES COMPANIES REGARDING CONSTJMERS THE EMERGENCY PUBLIC HEALTH The COVID-19 outbreak and emergency public health measures taken by government are contributing to widespread uiternuptions and loss of income for many New Mexico consumers and businesses. In response to the disruption caused by the outbreak, I am requesting that all insurance companies refrain from cancelling or non-renewing policies of businesses and individuals negatively impacted by the disiuption due to the non-payment of premiums during this public health emergency, or at a minimum, provide extended grace periods for payment ofpremiums. We encourage implementing these practices as soon as possible and consider extending them for a minimum of ty (30) days affer the emergency is declared over. I also request that all insurance companies work with their insureds after the public health emergency is over to allow the insureds to catch up on past due premiums in installments without loss of coverage. "Balloon" payments are likely to be unaffordable. Economic distress and loss of income in these times are due to circumstances beyond the control of the insureds. This request is directed to all admitted and non-admitted insurance companies that provide any insurance coverage in New Mexico including, life, health, auto, propeity, casualty, and other types of insurance for groups, individuals and for businesses. Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 100, Albuquerque, NM 87110 Main Phone: (505) 827-4601 i Satellite Phone: (505) 322-2186i Toll Free: (855) 4 - ASK - OSI www. osi.state.nm.us B U L L. E T I N 2 0 2 0 - 0 0 6 Pagei2 Inaddition, I amrequesting that all insurance agents, brokers, andother licensees who accept premium payments on behalf of insurers take steps to ensure that customers have the ability to make their insurance payments. This should include alternate methods of payment, such as online payments, to eliminate the need for in-person payment methods in order to protect the safety of workers and customers. Thank you for the vital services you provide, and for your understanding and cooperation during this trying time. Please let us know if our office can provide any assistance. ISSUED this 20'h day of March, 2020. Superintendent of Insurance Main Office: 1120 Paseo de Peralta, Room 428, Santa Fe, NM 87501 Satellite Office: 6200 Uptown Blvd NE, Suite 100, Albuquerque, NM 87110 Main Phone: (505) 827-4601 i Satellite Phone: (505) 322-2186i Toll Free: (855) 4 - ASK - OSI www.osi.state.nin.us