In response to the disruption caused by the COVID-19 outbreak, the Connecticut Insurance Department issued Bulletin No. IC-40 on March 24, 2020, in which it made the following requests:
- So that insurance policies are not cancelled for nonpayment of premium due to circumstances beyond the control of the insured, insurance companies should provide their insureds with at least a 60-day grace period to pay insurance premiums. This grace period applies to premiums due after the initial premium payment has been made to secure coverage, and is not premium forgiveness.
- All insurance agents, brokers, and other licensees who accept premium payments on behalf of insurers should take steps to ensure that customers have the ability to make prompt insurance payments, including by providing the ability to make payments online.
Click on the link for the entire Connecticut Bulletin No. IC-40.