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Property and Casualty

COVID-19 Report

close up of a coronavirus molecule

Property and Casualty

COVID-19 Report

Division of Insurance Issues Bulletin Concerning Cancellation of Policies Due to Nonpayment

On March 23, 2020, the Massachusetts Division of Insurance issued Bulletin 2020-05 to all carriers (including property and casualty, life and annuity, or health products) requesting the insurers to provide individuals and businesses with flexibility during this crisis to maintain their existing coverage, including the following:

  • Explain grace periods that usually allow stressed policy holders experiencing significant financial hardship to delay payments without coverage being terminated
  • Work with employers or individuals experiencing financial hardships to find the best ways to address concerns with the timing of premium payments
  • Explore all ways to relax due dates for premium payments

MA Bulletin 2020-05