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Financial Services Law Insights and Observations

Arizona Department of Insurance issues guidance on insurance customer relief

State Issues Covid-19 Arizona Insurance Consumer Finance

State Issues

On April 16, the Arizona Department of Insurance issued Regulatory Bulletin 2020-04 to certain insurers. Such insurers are encouraged to offer relief to customers affected by Covid-19, such as refraining from cancelling or non-renewing policies due to non-payment during the hardship, working with insured on premium payments, waiving late fees, interest, and penalties, delaying premium increases, and suspending the use of credit reports for rating. Insurers implementing Covid-19 related customer relief programs must make an informational filing in SERFF to document their programs.

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