California Insurance Commissioner Ricardo Lara is asking insurers for a grace period on paying premiums.
Lara today issued a notice requesting that all insurance companies provide their policyholders with at least a 60-day grace period to pay insurance premiums to ensure policies are not cancelled for nonpayment of premium due to the novel coronavirus (COVID-19) public health emergency.
The notice follows Gov. Gavin Newsom’s state of emergency declaration to make additional resources available, formalize emergency actions already underway across multiple state agencies and departments, and help the state prepare and mitigate against the broader spread of COVID-19.
