Midwestern Officials Ask Insurers To Give Flood Victims More Time

Regulators in Illinois, Indiana and Iowa want insurers to be patient with customers in areas affected by the recent catastrophic floods.

Officials are asking insurers to give customers at least 60 extra days to make payments, file claims and meet other deadlines, and to relax rules, such as health plan network provider rules, to help evacuees.

Indiana insurers can cancel policies for reasons other than missed deadlines, but companies should recognize “that persons in the heavily impacted areas may be unable to receive a notice of cancellation or non-renewal due to evacuation or delayed postal service in that area,” Indiana Insurance Commissioner James Atterholt writes.

Indiana will be giving producers and insurers affected by the flooding 60 extra days to meet filing and other deadlines.

Offering grace periods to help customers get through emergencies “is good business,” says Iowa Commissioner Susan Voss. “More than that, it’s the right thing to do.”