California and Massachusetts Issue Directives on Premium Refunds

California and Massachusetts Issue Directives
on Premium Refunds

 

California Insurance Commissioner Ricardo Lara has directed auto insurers to return additional premium collected in 2020 to certain policyholders impacted by COVID-19. He has also directed commercial insurance companies to provide data about policies held by California businesses. This information is due to the California Department of Insurance by April 30, 2021. 

The Massachusetts Division of Insurance is expecting that every private passenger auto insurer will submit a rate filing no later than June 30, 2021. These filings should show how the insurer has adjusted its auto rates in response to the changing market dynamics associated with COVID-19.

 

Link to California Bulletin 2021-03

Link to Massachusetts Private Passenger Motor Vehicle Insurance Filing Guidance Notice 2021-A