The Maryland Insurance Administration issued a bulletin encouraging insurance companies and premium finance companies to accommodate consumers who were impacted by last weekend’s blizzard.
Bulletin 16-05 (Re: Cancellations of Insurance Policies) was issued Tuesday to all property and casualty insurers, the Maryland Automobile Insurance Fund (MAIF), the Joint Insurance Association (JIA), Chesapeake Employers Insurance Company, and all premium finance companies.
Maryland Insurance Commissioner Alfred W. Redmer, Jr. said that daily life for many Maryland consumers has been disrupted because of this weather event, which had prompted a state of emergency declaration by Gov. Larry Hogan.
“To avoid cancellations for personal automobile insurance, homeowners insurance, and other personal lines of insurance, I encourage insurers to provide reasonable accommodations to policyholders displaced or otherwise significantly impacted by the storm, including, but not limited to, a grace period for premium payment,” Redmer said in the bulletin.
“I issued Bulletin 16-05 because this historic weather event disrupted the lives of many Maryland consumers, and therefore I would ask the companies to consider these special circumstances before canceling a consumer’s policy,” Redmer stated.
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