OHIO AND TEXAS RELAX INSURANCE REGULATIONS IN RESPONSE TO COVID-19

The Ohio Department of Insurance has announced it will extend licence renewal dates for agents, brokers, adjusters and third party administrators while the state remains under a state of emergency owing to the Covid-19 coronavirus pandemic. If a licence expires during the state of emergency, it will remain valid and may be renewed within 90 days of the end of the state of emergency or by December 1, 2020, whichever comes first. Meanwhile, the Texas Department of Insurance is expediting approvals for filings seeking to provide additional cover or relief to policyholders during the pandemic. The department has agreed to allow motor insurers to remove delivery exclusions in policies for policyholders to use their vehicles to deliver food, medicine and other goods. It has also approved a request by a commercial motor insurer to lower rates temporarily in anticipation of less driving and reduced losses.