Insurance companies told to offer grace period to wildfire victims
The Oregon Department of Consumer and Business Services has issued an emergency order for insurance companies to provide grace to Oregonians impacted by the recent wildfires.
Insurance companies must immediately extend all deadlines for policyholders to report claims, take all practical steps to provide opportunities for policyholders to report those claims, establish a grace period for premium payments for all policies issued, delivered or covering a risk in the affected area and suspend cancellations and nonrenewals.
The order applies to several counties across the state, including Yamhill County.
"We issued this order to make sure evacuees and other Oregonians affected by these wildfires are able to access the insurance resources they need, especially while they are displaced," said Andrew Stolfi, DCBS director and insurance commissioner. "We appreciate all the work our state's insurance representatives are doing to help their customers right now, and we encourage everyone to be patient and work together throughout the recovery process."
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