North Carolina Insurance Commissioner orders insurance coverage premium payment deferments – WTVD-TV

27March 2020

Anxious about financial resources during this time? More help is on the way.North Carolina Insurance Commissioner Mike Causey has actually triggered an emergency statement that will defer insurance coverage premium payments for residents in all 100 counties. The order was activated as an outcome of President Trump’s March 25th Significant Catastrophe Declaration approval for the State of North Carolina.

Financial info throughout the coronavirus pandemic: Joblessness, stimulus bill, loan information and more

The Commissioner’s order applies to all insurer including medical insurance, house and automobile insurance. This order also applies to debt collection agency, motor clubs and premium finance companies accredited by the North Carolina Department of Insurance Coverage. The order will defer not just premium payments but will also defer statutory time requirements. Notifications of cancellation, for example, will be deferred.Once the deferral ends, insurance policy holders will be needed to bring their payments existing to prevent cancellation.” My hope is this deferment will provide policyholders breathing room while they get back on their feet as an outcome of financial difficulties due to the COVID-19 health emergency situation,”Commissioner Causey said.RELATED: Financial information throughout the coronavirus pandemic According to a press release, prior to the President’s declaration, many business were working with their customers to extend grace periods for late payments.To figure out how this order will impact consumer’s insurance coverage, people are asked to contact their insurance company or agent. Copyright © 2020 WTVD-TV. All Rights Reserved.Source: abc11.com

Our Score
Click to rate this post!
[Total: 0 Average: 0]

Leave a Reply

Your email address will not be published. Required fields are marked *

Upgrade Your Listing

Add images, video, and more details to your listing! More information means more clicks. More clicks means more quotes!

Free listing includes: business name, address, phone, website, google map

Upgraded listing includes: business name, address, phone, website, EMAIL ADDRESS, COMPANY LOGO, VIDEO, IMAGE SLIDE SHOW, FEATURED LISTING PLACEMENT