For Benefits Compliance specific state updates for Indiana click here.
Governor Issues Executive Order Including Grace Period for Non-payment of Premiums
On March 19, 2020, Gov. Holcomb issued Executive Order 20-05, which in part directed the Department of Insurance to requests that insurers institute a 60-day moratorium on policy cancellations for nonpayment of premiums, noting that this does not suspend a policyholder’s obligation to make payments.
IN Executive Order 20-05
Department of Insurance Issues Bulletin Concerning Cancellation and Nonrenewal of Insurance
April 02, 2020
On March 26, 2020, the Indiana Commissioner of Insurance issued Bulletin No 252 requesting that all insurers institute a moratorium on policy cancellations and nonrenewals for 60 days. It notes the department will modify its own internal policies to implement a 60-day grace period for renewals and cancellations for licensees, certificate holders, and registrants.
IN Bulletin 252
DEPARTMENT OF INSURANCE ISSUES NOTICE CONCERNING AUTOMOBILE INSURANCE RATE REDUCTION
April 24, 2020
On April 9, 2020, the Indiana Department of Insurance issued a notice outlining for consumers information about insurance companies providing premium refunds to policyholders of automobile policies. The notice lists the automobile carriers providing a premium refund.