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California Insurance Commissioner Orders Refunds to Policy Holders

Fri Apr. 17th, 2020 PTWWW Legal Alert

To protect consumers and to provide consistent direction to the insurance industry regarding misclassifications of risk resulting from the COVID-19 pandemic, the Insurance Commissioner ordered in Bulletin 2020-03 that insurers make an initial premium refund for the months of March and April to all adversely impacted California policyholders in the following lines of insurance, as quickly as practicable, but in any event no later than August 11, 2020:

  • Private passenger automobile insurance;
  • Commercial automobile insurance;
  • Workers’ compensation insurance;
  • Commercial multiple peril insurance;
  • Commercial liability insurance;
  • Medical malpractice insurance;
  • Any other line of coverage where the measures of risk have become substantially overstated as a result of the pandemic.

See bulletin: http://www.insurance.ca.gov/0250-insurers/0300-insurers/0200-bulletins/bulletin-notices-commiss-opinion/upload/Bulletin_2020-3_re_covid-19_premium_reductions-2.pdf

 

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