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.
Was this article valuable?
Here are more articles you may enjoy.