*(UPDATED 6/5/2020)* Insurance Companies’ Accommodations During Coronavirus.
I’m sure many of you have questions about payment issues these days. Here is a list of insurance companies that are offering premium payment accommodations during this crisis we are all going through. If you have any questions, you can contact our office or your insurance company.
|June statements sent to policyholders will include past due balances with due date 20 days from statement date.
|Allowing changes in pay plan to monthly and offering a grace period by moving due date by 14 days due to quarantine period. Will reduce personal auto premiums by 15% for April and May and will not charge back commission to agency. Moratorium will remain in place through June 15th.
|Notices of Cancellations sent to insured will include document notifying them to contact PC Client Services to request extensions until 06.01.2020 for auto/prop policies
|Cancellations suspended for non payment for 30 days 03.18.20 to 04.14.20 including audits. All fees including NSF will be waived during this time.
|60 day no cancellation, at the end of 60 days the amount will be due. No fees, including reinstatement, and service fee will be charged. No CNX notices will be mailed to policy holders (for 60 days)
|Voluntary 60 day hold on cancellations and non-renewal notices beginning 03.23.20 with no late fees assessed during that time.
|Late fees waived for pymts atleast until 04.30.20 for all lines of business. Personal auto policies will receive 15% credit per policy on their April and May premiums. Also waiving restrictions on policyholders now performing delivery services.
|Suspending all non pay cancellations/waiving late fees until 06.01.2020
|CSU has suspended cancellations until 4/30/2020. No late fees will be charged.
|30-day hold on cancellations for non-payment of premium for those policyholders experiencing hardship through June 15, 2020. We will continue to work with any clients experiencing extreme hardship on a case by case basis.
|All late fees waived on payments due 03.23.20 – 05.31.20
|Extending renewal premium payment grace period and additional premium due from 30 days to 120 days for policies expiring through 06.15.20
|A hold has been placed on all non-pay cancellations until April 26th and will be re-evaluating this time frame for any extensions as the date draws closer. Invoices will generate as normal, but any pending or future scheduled will be placed on hold. However if a policy has recently cancelled for non-pay, please contact Underwriting to request the policy be reinstated to allow additional time for the payment to be made. Otherwise we will not be removing cancellations that have already been sent out.
|Regular cancellation practices will resume effective June 1st.
|Holding cancellations and waiving all late fees.
|Moratorium on notice of cancellations for non pay will be lifted on June 1, 2020.
|Johnson & Johnson
|After the intent to cancel is sent to client, they can call and request ext. & payment will be extended till 05.13.20. Must receive NOTICE first! Partial Payments will be accepted.
|If client will call billing department, they will work with them individually and all late fees will be waived.
|Regular billing practices have resumed as of 05.31.20
|Defering payments for 30 days. IF client calls customer service they can also request to stretch a payment over their remaining installments when available. 15% credit on voluntary coverage being applied effective immediately.
|Deferring payments of premium for property from 03.27.20 – 04.26.20. Insured will need to call to request this deferral.
|Moratorium will be lifted beginning with June billing cycle. June statement will include all past due and current due balances w/ payment due within 30 days of invoice for agency bill and 21 for direct bill.
|Extensions offered thru 04.30.2020 on both personal & commercial accounts. Client will need to call customer service to set up arrangements. They will not reinstate policies that cancelled prior to 04.01.20
|Cancellations are being held until 06.15.20 but they suggest clients make some portion of their payment if possible. Clients will receive 15% discount on both personal and commercial accounts. Any that paid in full will receive a refund check mid June.
|Suspending cancellations and non-renewals thru June 15th.
|If client will call their billing department, they will adjust payments on a case by case basis.
|Client can email to request payment arrangements. Cancellations suspended 03.23.20 – 04.19.20. Clients will continue to receive late notices.
|Installments on all accounts regardless of premium size. Payments can be received up to 30 days after the effective/invoice date for installments.
|DNOC suspended 03.24.2020 through 06.01.2020, but late notices will continue to be mailed.