Some good news today from the North Carolina Department of Insurance. Insurance Commissioner Mike Causey has issued a 30-day premium deferral on all personal and most commercial insurance payments for those experiencing hardship due to the coronavirus pandemic. The short-term payment deferral gives insureds a chance to respond to recent economic challenges by delaying their homeowners, health care, auto or commercial property insurance premiums for one month without fear of policy cancellations. Missed payments will be added to the following month’s premium and will be due in full within 60 days to avoid cancellation. To find out more about the deferral program, visit the N.C. Department of Insurance’s website, here.
For our clients considering the 30-day deferral, please give your Sentinel advisor a call today. Let’s talk through any changes in payroll and determine what other risk mitigation strategies we can employ on your behalf that will save you money in the short-term while positioning you to resume full operations in the months ahead. Call our general help line at 855-490-2528.