Tuesday, March 24, 2020

TDI Extends Claims-Handling Prompt Payment Deadlines In Response To COVID-19

Amid the chaos surrounding the COVID-19 outbreak, the Texas Department of Insurance has issued a Commissioner’s Bulletin extending certain claim-handling prompt payment deadlines for property carriers handling claims in Texas. The Texas Prompt Payment of Claims Act allows for a 15-day extension of claim-handling deadlines for property carriers in the event of a major national disaster, as defined by the Texas Commissioner of Insurance. In the wake of the Commissioner’s determination that the COVID-19 pandemic is a national disaster, Commissioner’s Bulletin # B-0007-20 establishes extended deadlines for claim-handling procedures for property carriers.