As the Eastern US continues to recover from this weekend’s blizzard, several state insurance commissioners are calling on carriers to accommodate policyholders through various actions including grace periods for premium payments.
In Maryland, Bulletin 16-05 (Re: Cancellations of Insurance Policies) was issued to all property/casualty insurers Tuesday as well as the Maryland Automobile Insurance Fund, the Joint Insurance Association, Chesapeake Employers Insurance Company and all premium finance companies.
In the bulletin, state Insurance Commissioner Alfred W. Redmer, Jr. told carriers that daily life had been interrupted for many Maryland consumers after the storm, and urged the companies to “reasonably accomodat[e]” their policyholders.
“To avoid cancellations for personal automobile insurance, homeowners insurance and other personal lines of insurance, I encourage insurers to provide reasonable accommodations to policyholders displaced or otherwise significantly impacted by the storm including, but not limited to, a grace period for premium payment,” Redmer said.
“This historic weather event disrupted the lives of many Maryland consumers, and therefore I would ask the companies to consider these special circumstances before canceling a consumer’s policy.”
This is not the first time Redmer has asked insurance companies for leniency. During the 2015 Baltimore Riots, the commissioner urged carriers to forego typical police report requirements in order to get settlements as quickly as possible for cash-strapped businesses that had suffered a loss.
Elsewhere, Washington, D.C. Mayor Muriel Bowser is continuing a snow emergency, under which parking is not allowed on snow emergency routes and a $15 subcharge exists for taxicab rides.
Several city streets have not yet been plowed in the nation’s capital, and crews are continuing work o residential areas.
Residents in southern New Jersey are also still cleaning up mess from the storm, including flooding, and officials warn repairing the damage and beach erosion could be expensive.
