In Executive Order 2020-07, Oklahoma declared an emergency caused by the impending threat of COVID-19. The Oklahoma Insurance Department issued Bulletin 2020-01 on March 20, 2020, which asks the following until the state emergency is no longer in place:
Insurance carriers should:
- Review their internal processes and continuity of operations, including ability to telecommute, to ensure that they are prepared to serve their policyholders.
- Provide insureds, producers and brokers with information and timely access to all services.
- Use their websites and helplines to provide necessary and useful information about available benefits specifically related to business interruption insurance, quickly respond to insured inquiries, and consider revisions needed to streamline responses and benefits for insureds.
- Extend their applicable grace period for nonpayment of premium by an additional forty-five (45) days. This grace period extension does not relieve an insured of the obligation to pay premiums but merely is a deferral of the payment due date.
Click the link for the entire Oklahoma PC Bulletin 2020-01.