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Financial Services Law Insights and Observations

North Carolina Department of Insurance issues guidance on debt collection

State Issues Covid-19 North Carolina Debt Collection

State Issues

On March 27, the North Carolina Department of Insurance issued guidance clarifying certain debt collection obligations for insurance companies and related entities. Entities involved in collections must provide customers specific relief for payments, submission of claims, and other responsibilities. They must allow consumers, whose requests may have been impacted by the Covid-19 disaster, additional time for their requests to be received and reviewed. Additionally, the timeframes to submit additional information for previously pending requests will also be extended. The guidance is in effect for 60 days.