Department of Insurance Bulletins
If the bulletins below apply to you and you need help, contact us at (800) 678-8171.
The Alaska Division of Insurance issued Bulletin B22-06 following the governor’s September 17 disaster declaration issued in response to the recent storm that impacted the west coast of Alaska. The DOI directs all insurers to provide relief to affected bond/policyholders by offering an extension to premium grace periods of at least two weeks to allow continuing insurance coverage. Read the full bulletin here.
The Kentucky Department of Insurance has issued industry guidance to insurers following the declared State of Emergency 2022-457 resulting from damage caused by severe storms beginning on July 26, 2022.
This is not an official moratorium on cancellations/nonrenewal, however the department strongly encourages insurers to do the following:
· Reasonably extend time periods that, when extended, will benefit their customers, and not result in a financial hardship when payments become due.
· Refrain from issuing cancellations, non renewals, and rate increases until proper notice can be given, as mail delivery systems may be impacted by the storms.
· Provide policyholders with a copy of their policies without additional charge to ensure their ability to review policy language.
On April 20, 2022, Tennessee Gov. Bill Lee issued Executive Order No. 96 requesting the cancellation or non-renewal of policies for the non-payment of premium be suspended for a period of at least sixty (60) days from the effective date of the order for those policyholders who suffered property damage, injuries, and other losses, as a result of the catastrophic events. Read the full bulletin here.