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Arkansas Insurance Department Issues Moratorium on Cancellation/Non-renewal of Policies for Non-Payment

The Arkansas Insurance Department (“Department”) has issued Bulletin 5-2017 (link below).

As a result of recent severe storms the Governor has declared a major disaster for Arkansas counties impacted beginning April 26, 2017. In response to this, the Department has issued a sixty (60) day moratorium, effective April 26, 2017, on the cancellation/non-renewal of policies for non-payment of premiums for impacted counties. The moratorium applies to all insurance policies issued in the state however the moratorium extension is not automatic and interested policyholder must request the extension per instruction provided in the bulletin.

Link:

Bulletin 5-2017