Read the bulletin on the Tennessee Department of Commerce and Insurance website.
Specifically, the Department requests insurers to:
- Provide grace periods of at least 60 days for policyholders who have suffered property damage, injuries, or loss of life due to catastrophic events, allowing them extra time to make premium payments. The 60-day extension does not waive the policyholder's obligation to pay premiums. In situations where delayed premium payment is due to disruptions in mail delivery or the policyholder's displacement caused by severe weather and flooding, the Department requests that insurers consider these circumstances before canceling a policy and work with the policyholder to find a solution.
- Allow exceptions to proof-of-loss deadlines, notice requirements, and contract or underwriting requirements.
- Allow policyholders to enter payment plans voluntarily.
- Allow policyholders to postpone payment due dates to continue insurance coverage temporarily.
- Suspend late payment, reinstatement, insufficient-fund fees, and any other fee, penalty, or interest charge resulting from the insured’s temporary inability to submit premium payments.
- Allow insureds to request a duplicate policy copy at no additional cost.
- Refrain from canceling or non-renewing policies solely because of claims resulting from the flooding; and
- Allow for one 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, material misrepresentation, or any other reason unrelated to hardships created by the severe weather and flooding.
Read Executive Order 105.