Insights

Moratorium on Policy Cancellations/Nonrenewals for Employers Impacted by COVID-19 Pandemic


On March 25, 2020, the Insurance Department published Bulletin 2020-3. According to the bulletin, the Department is issuing a 60-day moratorium on the cancellation and nonrenewal of policies for the nonpayment of premiums. The moratorium is effective March 24, 2020, and applies to all policies issued for delivery in Mississippi. Importantly, the bulletin directs carriers to work with COVID-19-impacted employers (and other policyholders) in paying premiums that become due during the moratorium period by either allowing a payment plan or a further extension of the due date for the amount in full. The Department also published a set of FAQs to assist carriers in working through moratorium-related situations.

Employers impacted by the COVID-19 pandemic should work with their carriers directly in determining whether a payment plan or due date extension is appropriate in their situation.

Bulletin 2020-3 »
FAQs »