california gives at least 60-day grace period for payment of insurance premiums

On March 18, California Insurance Commissioner Ricardo Lara asked insurance companies to give their insureds at least a 60-day grace period to pay insurance premiums. The request was directed to all admitted and non-admitted insurance companies that provide any coverage in California including life, health, auto, property, casualty and other types of insurance. 

The Commissioner also requested that insurance agents and other licensees take steps to ensure that customers can make prompt insurance payments, including the provision of alternate methods of payment that eliminate the need for in-person transactions such as online payments.

The Commissioner’s aim: prevent the cancellation of policies for premium nonpayment during the challenging time of COVID-19 due to circumstances beyond the insured’s control.

Questions? Get in touch—call 800 851 3237 or email info@fourniergroup.com.

Check out our COVID-19 Resources page for more information on the pandemic, your business and your insurance.

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