Oklahoma’s new insurance commissioner is encouraging insurance companies in his state to work with and assist policyholders affected by the partial federal government shutdown.
In a bulletin to all insurance companies in Oklahoma, Commissioner Glen Mulready requested that carriers work with affected policyholders on payment terms that will help them weather the shutdown.
Mulready also encouraged policyholders to call their insurance companies as soon as possible to make arrangements for payment terms. Most federal employees that are affected are going on their second missed paycheck.
“I would hope that insurance companies aid those affected by this shutdown with positive solutions to possible delay in pay,” Mulready said in a statement released by the Oklahoma Insurance Department. “The last thing we want is for their policies to lapse.”
Policyholders who pay premiums with a bank draft or electronic funds transfer arrangement are advised to contact their financial institution to discontinue these payments.
Elected to the post in November 2018, Mulready began his tenure as insurance commissioner earlier this month.
Source: Oklahoma Insurance Department
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