Indiana Insurance Agents are probably aware of this, but for those Agents who only place a few risks in Indiana, you may not know that due to the recent tornadoes and severe storms on March 2, 2012 the Indiana Department of Insurance posted Bulletin 191 – Policy Cancellation Moratorium. The bulletin which is directed at all Insurers, states that beginning March 1, 2012 there will be a 60 day moratorium on cancellation/nonrenewal for nonpayment of premium by policyholders whom were directly affected by the disaster. Please note that “nothing in the bulletin waives the insurer’s right to cancel or non-renew for any other reason allowed by law”. This is merely an extension of the grace period in which to pay the premium.
The Moratorium applies to policyholders residing in the following Counties Declared Disaster Areas:
- Clark
- Gibson
- Harrison
- Jefferson
- Posey
- Ripley
- Scott
- Shelby
- Vanderburgh
- Warrick
- Washington
Click here for a copy of Bulletin 191
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