ELANY ISSUES BULLETIN CONCERNING EXPIRATION OF COVID-19 GRACE PERIOD
On July 7, 2020, ELANY issued Bulletin No. 2020-39 in which it notes the expiration of the cancellation/nonrenewal/conditional renewal moratorium and premium payment grace period requirements prescribed by Executive Order 202.13, and its related Department of Financial Services Extended Emergency Regulation, which expired on July 6, 2020. After July 6, 2020, insurers are no longer required to grant new moratoriums and premium payment grace periods to policyholders claiming a COVID-19 financial hardship. Relief granted prior to July 7, 2020, must be administered pursuant to the requirements of the now expired executive order and emergency regulations.
NY Bulletin No. 2020-39