Deferrals of Insurance Premium Payments in NYS

From the NYS Dept of Financial Services—

  • Regulations will be issued in the near future allowing consumers and small businesses experiencing financial hardship due to COVID-19 to defer paying health insurance premiums through June 1, 2020.
  • Details will be available once the regulation has been issued.
  • Consumers experiencing financial hardship due to COVID-19 may defer paying life insurance premiums for 90 days.
  • Consumers and small businesses experiencing financial hardship due to COVID-19 may defer paying premiums for property and casualty insurance for 60 days
  • Premium finance agencies are required to provide same relief as insurers.
Posted in Perspectives, WillPlan Blog.