ROSENDALE ENCOURAGES INSURERS TO BE FLEXIBLE DURING COVID-19 PANDEMIC

csimt 2020, COVID-19 Updates, Insurance, Press Release

CONSUMERS AND INSURANCE COMPANIES SHOULD BOTH BE PROACTIVE
ROSENDALE RECOMMENDS STEPS COMPANIES SHOULD TAKE TO EASE BURDEN ON MONTANANS DURING RAPIDLY-CHANGING SITUATION

HELENA, Mont. — Insurance Commissioner Matt Rosendale sent a letter to the insurance industry today recommending flexibility to help Montanans and businesses maintain insurance coverage and benefits during the COVID-19 pandemic.

Rosendale also encourages Montanans to be proactive and immediately get a hold of their insurance agent if they anticipate making a late payment or missing a payment due to sudden unemployment or other financial difficulties.

“I’m recommending several measures insurance companies can take to ease the burden on Montana consumers, and I’m encouraging both insurers and consumers to be proactive and get ahead of any potential problems,” Rosendale said. “The situation is changing every day for many individuals and businesses, and that reality demands that we be flexible and help each other out as we fight the COVID-19 virus.”

“If you think that you or your business might be late making an insurance payment or miss a payment, get in touch with your insurance agent immediately and explain your situation,” Rosendale continued. “If you can’t reach an agreement with your insurance company to maintain your insurance coverage, contact my office via the COVID-19 Information page on our website.”

Rosendale made the below recommendations to the insurance industry to help Montanans during the pandemic. Montanans should call or email their insurance agent or company if they have specific questions or concerns about their insurance policy or ability to pay.

  • Flexible payment solutions for families, individuals, and businesses; providing additional time to make payments; allowing grace periods to delay premium payments
  • Suspending premium billing for small businesses such as restaurants, bars, and others that have been shut down or had their operations severely reduced, for a specific number of days or billing cycles
  • Waiving insurance premium late fees and other fees for families, individuals, and businesses
  • Pausing cancellation of coverage for motorists due to temporary non-payment and policy expiration
  • Expediting/expanding automobile coverage to allow personal vehicles to be covered while delivering food, medicine, or other essential provisions for commercial purposes
  • Streamline administrative processes and paperwork to ease consumer burdens and facilitate continuous coverage

Rosendale’s letter to the insurance industry can be FOUND HERE

The CSI COVID-19 Information webpage can be FOUND HERE

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