Louisiana Insurance Commissioner James Donelon on Jan. 25 issued a bulletin to insurers operating in his state, asking that they help out policyholders affected by the federal government shutdown by “exercising leniency” in the case of late premium payments.
Oklahoma Insurance Commissioner Glen Mulready also made a similar plea to insurers in Oklahoma.
The bulletin issued by the Louisiana Department of Insurance “strongly encouraged” property/casualty and life, health and accident insurers to “reasonably accommodate” shutdown-affected policyholders “by providing payment plants or extensions of time for premium payments.”
The department is also encouraging impacted policyholders to “contact their insurance carriers to inform them of the federal government employment status and to request arrangements” for insurance premium payments.
The department’s bulletin noted that around 6,000 Louisianans work for federal agencies impacted by the government shutdown. Around 5,858 of those federal employees were not being paid, the LDI noted.
Was this article valuable?
Here are more articles you may enjoy.
How Insurers Can Gain the Most Value From Their AI Investments: Accenture 
FEMA’s New Flood Maps Means More Homes Require Flood Insurance: Cotality 
CVC-Backed Home Insurance Firm Bamboo Said to Postpone IPO 
Hellman & Friedman Explores Sale of Applied Systems at Up to $10B, Sources Say 
