Moratorium on Policy Cancellations/Non-Renewals for Policyholders Impacted by the COVID-19 Pandemic (Issued March 25, 2020) Bulletin 2020-3 Questions and Answers

MIKE CHANEY Commissioner of Insurance State Fire Marshal MARK HAIRE Deputy Commissioner of Insurance RICKY DAVIS State Chief Deputy Fire Marshal MISSISSIPPI INSURANCE DEPARTMENT 501 N. WEST STREET, SUITE 1001 WOOLFOLK BUILDING JACKSON, MISSISSIPPI 39201 www.mid.ms.gov MAILING ADDRESS Post Office Box 79 Jackson, Mississippi 39205-0079 TELEPHONE: (601) 359-3569 FAX: (601) 359-2474 BULLETIN 2020-3, as amended MISSISSIPPI INSURANCE DEPARTMENT MORATORIUM ON POLICY CANCELLATIONS/NON-RENEWALS FOR POLICYHOLDERS IMPACTED BY THE COVID-19 PANDEMIC March 25, 2020 On March 14, 2020, Governor Tate Reeves declared a state of emergency to address the high risk for an outbreak of the novel coronavirus, identified as COVID-19, in this State. As a result of the COVID-19 pandemic, people have been quarantined and schools and businesses have closed. These necessary actions will certainly have a negative economic impact on our State which will result in a financial hardship for many citizens. To assist Mississippians impacted by this pandemic and the closures and quarantines it has caused, the Mississippi Insurance Department (“Department”) is hereby issuing a sixty (60) day moratorium on the cancellation/non-renewal of policies for the non-payment of premiums, effective March 24, 2020. This moratorium shall apply to all policies issued or issued for delivery in this State. Policyholders are advised that this moratorium is not a waiver of premium; rather, it is a moratorium on the cancelation or non-renewal of policies for the failure to pay premiums during the applicable 60-day period. Insurers are directed to work with impacted policyholders in paying the 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. If a policy is to be canceled or non-renewed for legally recognized reasons other than a failure to pay premiums, the cancellation or non-renewal may be made pursuant to statutory notice requirements. The actions taken by Governor Reeves and this office are intended to protect the citizens of this State and to help limit the economic impact of this crisis. Therefore, the Commissioner directs insurers to comply with the provisions of this Bulletin and to work with policyholders as everyone continues to assess the impact of the COVID-19 crisis. Should you have any questions regarding this Bulletin, please contact the Department’s Legal Division at (601) 359-3577. MIKE CHANEY COMMISSIONER OF INSURANCE