On Saturday, December 3, 2022, many Moore County, NC, residents experienced a power outage due to what has been described as vandalism to multiple electrical substations. According to the latest reports, the power outage could last until at least Thursday, December 8, 2022.
On December 6, 2022, NC Commissioner of Insurance Mike Causey issued an Advisory regarding policyholders affected by the electrical power outages in Moore County, NC. This Advisory shall apply to insurance products of commercial and personal, property, casualty, accident, and health and life policies.
Commissioner Causey is working with the insurance industry to ensure that appropriate accommodations are being made for those consumers living in the affected areas of Moore County. Specifically, Commissioner Causey urges insurers to consider the following actions:
- Consistent with prudent insurance practices, relaxing due dates for premiums payments, extending grace periods, waiving late fees and penalties, and allowing payment plans for premiums payments to otherwise avoid a lapse in coverage for those consumers living in the affected areas of Moore County and surrounding areas.
- Insurers should also consider cancellation or non-renewal of policies only after exhausting other efforts to work with policyholders to continue coverage.
- In addition, Commissioner Causey is requesting that all insurance agents, brokers, and other licensees who accept premium payments on behalf of insurers take steps to ensure that customers living in the affected areas of Moore County and surrounding areas have the ability to make prompt insurance payments. This should include alternate methods of payment, such as online payments, to eliminate the need for in-person payment methods in order to protect the safety of workers and customers.
- Affected policyholders should notify their insurance carriers and agents and explain their individual situation and difficulties complying with payment schedules.