California Requires Premium Refund for COVID-19 Impacted Policyholders

California Requires Premium Refund for COVID-19 Impacted Policyholders

 

California Insurance Commissioner Ricardo Lara is ordering 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 August 11, 2020. Commissioner Lara is also ordering insurers to report to the Department of Insurance by June 12, 2020 all actions taken and contemplated future actions to refund premium in response to the order.

 

Link to Bulletin No. 2020-3