Update to Informational Bulletin: COVID-19 Related Premium Refunds, Discounts, or Credits

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commissioner of securities and insurance

Update to Informational Bulletin from 4/9/20

Re: COVID-19 Related Premium Refunds, Discounts, or Credits

To: All Property and Casualty Insurers who have issued or may be considering COVID-19- related premium refunds, discounts or credits, Licensed Independent Adjusters, and other interested parties

From: Matthew M. Rosendale, Sr.

Date: April 13, 2020

The Department issued an informational bulletin on April 9, 2020, addressing how insurance companies were required to provide rate filings and form filings to issue premium refunds, discounts or credits to their policyholders.

The Department is amending the April 9 bulletin, as follows:

Insurers are NOT required to submit a form filing for premium refunds, discounts or credits issued based upon industry-related impacts due to COVID-19.

Rate filings will continue to be required for all COVID-related premium refunds, discounts or credits. If you have any questions concerning the rate filings, please contact Mari Kindberg at mkindberg@mt.gov.

The Department will review guidelines regarding the matter in thirty days and will advise of any changes.

Thank you for your continuing efforts in helping Montana consumers in this time of need.