New Jersey Requires Policyholder Notices for Grace Period

New Jersey Requires Policyholder Notices for Grace Period

 

The New Jersey Department of Banking and Insurance is directing all licensed P&C insurers to provide their insureds who may be experiencing a financial hardship due to COVID-19 with at least a 90-day grace period to pay insurance premiums. Insurers are further directed to, in addition to posting information on their website, provide each policyholder with an easily readable written description of the terms of the extended grace period offered.


Link to Bulletin No. 20-15