Regulators Urge Insurers to Allow Midterm Revisions on Payroll

While California regulators have ordered insurers to refund premiums because of coronavirus layoffs, other states have stopped short of that. The Maryland Insurance Administration on Monday simply urged insurers to “work with” policyholders to accommodate requests for midyear revisions on premiums. The administration noted in a bulletin that some commercial lines of insurance, including workers' comp, are based on an employer's annual payroll. But because many businesses have laid off or furloughed workers and have seen an unprecedented loss of revenue, annual payroll est...