Department of Insurance calls for grace period for storm-affected counties

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Indiana Department of Insurance Commissioner Amy Beard on Tuesday directed insurance companies to implement a grace period for policyholders who have been directly affected by recent storms in several counties.

The department said those individuals will receive a 60-day extension to make premium payments without risk of penalties or policy cancellation.

The cancellation moratorium is intended for people affected by the weather events in Allen, Benton, Cass, Clinton, Howard, Johnson, Morgan, Owen, Sullivan and White counties.

“The last thing we want those Hoosiers impacted by the recent tornadoes and severe storms to worry about is missing a premium payment or losing coverage,” Beard said in a news release. “We hope by granting this extension, it will give them some peace of mind.”

The IDOI is asking insurance companies to work with impacted policyholders in paying the premiums either by allowing a payment plan or extending the payment due date.

After the 60-day extension is lifted, policyholders will be required to resume making premium payments.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In