The Indiana Department of Insurance is telling insurers to give victims of recent southern Indiana tornadoes an extra two months to pay their premiums.
Insurance Commissioner Stephen Robertson announced a 60-day moratorium on canceling storm victims’ insurance policies, along with a suspension of late penalties.
The agency says the moratorium amounts to an extension of the grace period.
The moratorium applies only to those who fail to pay premiums directly as a result of the disaster. Insurance companies can cancel or non-renew policies for other reasons, but the department says they should consider that storm victims may be unable to receive a notice of cancellation.
Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Small Health Insurers Assuming Big Role In Many States Under Obamacare
11 U.S. Weather Disasters in 2012 Cost More Than $1 Billion Each
Encompass Looks to PGA Sponsorship to Improve Brand
Walgreen Agrees to Record $80M Settlement Over Distribution of Painkillers
The Hartford Ordered to Pay $20M to Auto Body Shops
Broker Awarded $ 3.8M Verdict in Reputation Suit
Travelers Eyes Canada Growth with $1.1B Acquisition of The Dominion
Fracking Companies Silence Water Complaints With Sealed Settlements
Sign up to receive insurance news alerts!
