Regulatory Alerts2022-01-01 | Bulletin 2022-3Oregon Division of Financial Regulation Bulletin 2022-3: Rebuild Timelines for 2020 Wildfire Claims
The Oregon Division of Financial Regulation mandates that property and casualty insurers extend rebuilding and content replacement time limits for active 2020 Labor Day wildfire claims to September 30, 2023. This directive addresses market disruptions and supply chain shortages that prevented policyholders from meeting standard policy deadlines, requiring insurers to conduct reasonable inquiries into individual circumstances. Insurers must notify affected policyholders of these extensions by August 30, 2022, and report any claims where the extension is denied to the Division every 60 days.
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