LDI Says Time Extension for Paying Premiums Still in Effect
The Louisiana Department of Insurance issued a reminder that the department’s Emergency Rules required insurance companies to give policyholders affected by Hurricane Katrina or Hurricane Rita an automatic extension of time to pay their insurance premiums without incurring any late fees, penalties, cancellation or non-renewal.
Commissioner of Insurance Robert Wooley has said that insurance companies cannot charge any late fees, penalties or interest for payments deferred during premium extension period.
The Emergency Rules pertaining to Hurricane Katrina are, in part, as follows:
Policyholders affected by Hurricane Katrina were allowed to defer insurance premium payments starting on Aug. 26, 2005, the effective date of Governor Blanco’s declared State of Emergency, if they resided in one of the following 14 parishes when the storm struck: Jefferson, Lafourche, Livingston, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Mary, St. Tammany, Tangipahoa, Terrebonne and Washington.
Health Insurance Premium Payments: Policyholders in the 14 above-listed parishes affected by Hurricane Katrina who deferred their health insurance premium payments have until Nov. 30, 2005, to bring current those premiums or be subject to the cancellation provisions of their policies.
All Other Insurance Premium Payments: Policyholders affected by Hurricane Katrina in Orleans, Plaquemines, St. Bernard and St. Tammany Parishes who deferred their insurance premium payments will have until midnight, Dec. 31, 2005, to make current all payments due to their insurance companies or be subject to the cancellation provisions of their policies. This includes all deferred premiums and any current premiums that may be due on Jan. 1, 2006.
Policyholders affected by Hurricane Katrina in the remaining parishes of Jefferson, Lafourche, Livingston, St. Charles, St. James, St. John the Baptist, St. Mary, Tangipahoa, Terrebonne and Washington who deferred their insurance premium payments will have until midnight, Nov. 30, 2005, to make current all payments due to their insurance companies or be subject to the cancellation provisions of their policies. This includes all deferred premiums and any current premiums that may be due on Dec. 1, 2005.
The Emergency Rules pertaining to Hurricane Rita are, in part, as follows:
Policyholders affected by Hurricane Rita were allowed to defer insurance premium payments starting on Sept. 20, 2005, the effective date of Gov. Blanco’s declared State of Emergency, if they resided in one of the following 12 parishes when the storm struck: Acadia, Allen, Beauregard, Calcasieu, Cameron, Iberia, Jefferson Davis, Lafayette, Lafourche, St. Mary, Terrebonne and Vermilion.
Health Insurance Premium Payments: Policyholders in the 12 above-listed parishes affected by Hurricane Rita who deferred their health insurance premium payments have until Nov. 30, 2005, to bring current those premiums or be subject to the cancellation provisions of their policies.
All Other Insurance Premium Payments: Policyholders affected by Hurricane Rita in Calcasieu, Cameron and Vermilion Parishes who deferred their insurance premium payments will have until midnight, Dec. 31, 2005, to make current all payments due to their insurance companies or be subject to the cancellation provisions of their policies. This includes all deferred premiums and any current premiums that may be due on Jan. 1, 2006
Policyholders affected by Hurricane Rita in the remaining parishes of Acadia, Allen, Beauregard, Iberia, Jefferson Davis, Lafayette, Lafourche, St. Mary and Terrebonne who deferred their insurance premium payments will have until midnight, Nov. 30, 2005, to make current all payments due to their insurance companies or be subject to the cancellation provisions of their policies. This includes all deferred premiums and any current premiums that may be due on Dec. 1, 2005.
The Department noted that some companies will allow insureds to pay in installments rather than a lump sum. Consumers are advised to check with their company for payment information.
To view the Emergency Rules, visit the Department’s Web site at www.ldi.state.la.us.