California Insurance Commissioner Ricardo Lara Orders Insurance Companies To Refund Insurance Premiums In Face Of COVID-19 Emergency. By Lonce Lamonte and the California Department of Insurance - April 15, 2020
Insurance Commissioner Ricardo Laraordered insurance companies to return insurance premiums to consumers and businesses and provide much-needed financial relief during the COVID-19 emergency.
The insurance commissioner’s bulletin covers premiums paid for at least the months of March and April – possibility May – in at least six different insurance lines.
Those include: commercial auto, workers' compensation, commercial liability, any insurance line where the risk of loss has fallen substantially due to COVID-19. A premium refund will not require prior approval by the Department of Insurance (DOI) if the insurance company follows certain methods outlined in the bulletin. All insurance companies must report back to the DOI all premium refunds they have issued or expect to issue in the next 60 days.
Lonce Lamonte, editor of adjustercom, in cooperation with the California Department of Insurance. April 15, 2020.
lonce@adjustercom.com
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA