Abstract
As the COVID-19 virus outbreak rapidly spread across the nation, state and local governments responded with mitigation efforts designed to slow the spread. This article focuses on four main areas and describes the impact on insurance agents. The first area is the designation of “essential employees.” This was the most immediate issue and required determination of who should stay home and who should continue to work because their job was essential. Second, we focus on agency operations and customer support issues. Next, we cover the challenges agents face complying with licensing and continuing education (CE) requirements. Lastly, we look at the surprisingly complicated factors surrounding premium adjustment and possible conflict with rebate laws and regulations. We interview a range of agents and leadership at insurance trade associations to obtain firsthand experience regarding these issues, and we provide recommendations based on lessons learned that can be applied in future disasters.
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