The Commissioner requests that insurers:
- Suspend the cancellation or non-renewal of policies due to the non-payment of premium for a period of at least 60 days from the date of the loss (12.9.23) for those policyholders who have suffered property damage, injuries, or loss of life as a result of the catastrophic events.
- Insurers should take reasonable steps to inform affected policyholders that this extension is available. The 60-day extension is not a waiver of a policyholder’s obligation to pay the premium.
- Where a delay in premium payment appears to result from a disruption to the mail delivery system or the policyholder’s displacement due to the tornadoes, the Commissioner requests that insurers work with the policyholder and take those circumstances into account before canceling a policy.
The Commissioner further requests insurers to make the following efforts to assist citizens affected by the tornadoes:
- Allow exceptions to proof of loss deadlines, notice requirements, and other underwriting requirements;
- Allow for policyholders to voluntarily enter payment plans;
- Allow policyholders to temporarily postpone payment due dates to continue insurance coverage;
- Suspend late payment, reinstatement, or insufficient fund fees along with any other fee, penalty, or interest charge resulting from the insured’s temporary inability to submit premium payments;
- Allow insureds to request a duplicate copy of their policy at no cost;
- Refrain from canceling or nonrenewing policies solely because of claims resulting from the tornadoes; and
- Allow for one (1) early or replacement prescription refill per medication.
This request for an extension and/or exception on behalf of Tennessee policyholders is not intended to address circumstances involving fraud or material misrepresentation or any other reason unrelated to hardships created by the tornadoes.