States Impose Moratoriums/Restrictions on Policy Cancellations

States Impose Moratoriums/Restrictions on Policy Cancellations

 

A number of states have instituted moratoriums/restrictions on cancellation/nonrenewal during the COVID-19 pandemic:

  • The Alaska DOI is prohibiting insurers from terminating policies due to non-payment of premium – this prohibition is in place until June 30, 2020.
  • The California DOI is requesting that all insurers provide their insureds with at least a 60-day grace period to pay insurance premiums so that policies are not cancelled for nonpayment of premium.
  • The West Virginia Insurance Commissioner is prohibiting the cancellation or non-renewal of policies for reasons resulting from circumstances stemming from the COVID-19 pandemic.

 

Links:   Alaska  |  California  |  West Virginia