California Extends Premium Refund Order for COVID-19 Impacted Policyholders

California Extends Premium Refund Order for COVID-19 Impacted Policyholders

 

In April, California Insurance Commissioner Ricardo Lara ordered insurers to provide policyholders impacted by COVID-19 a premium credit, reduction, return of premium, or other appropriate premium adjustment as soon as possible, but no later than 120 days from the date of the bulletin. Commissioner Lara also ordered insurers to report to the Department of Insurance within 60 days all actions taken and contemplated future actions to refund premium in response to the order. Bulletin 2020-4 extends the scope of this order through the month of May.

 

Link to Bulletin No. 2020-4