Indiana Storm Victims Get More Time to Pay for Insurance

March 8, 2012

The Indiana Department of Insurance is telling insurers to give victims of southern Indiana tornadoes an extra two months to pay their premiums.

Insurance Commissioner Stephen Robertson announced a 60-day moratorium Tuesday 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.

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