The moratorium on the cancellation/non-renewal for the non-payment of premiums is hereby extended for 30 additional days

GEORGE DALE Commissioner of Insurance State Fire Marshal LEE HARRELL Deputy Commissioner of Insurance STATE OF MISSISSIPPI Mississippi Insurance Department 501 N. West Street 1001 Woolfolk Building (39201) Post Office Box 79 Jackson, Mississippi 39205-0079 (601) 359-3569 http://www.doi.state.ms.us Mississippi Insurance Department October 26 2005 Bulletin 2005-12 After Hurricane Katrina made landfall, the Mississippi Department of Insurance ("Department") issued a press release calling on the insurance industry to impose a 60 day moratorium on the cancellation/nonrenewal of policies for non-payment of premiums. On September 15, 2005, the Department issued Bulletin 2005-7 for the purpose of clarifying the scope of the moratorium. The scope and terms of the moratorium were further clarified in Bulletin 2005-9, which was issued on September 28, 2005. The 60 day moratorium began on August 29, 2005, and is scheduled to end on October 27, 2005. Due to the fact many persons on the Mississippi Gulf Coast remain displaced and/or are still dealing with significant or extensive damage to their property, it is the intent of this Bulletin to extend the moratorium for those persons particularly affected by Hurricane Katrina. Therefore, the 60 day moratorium on the cancellation/non-renewal for the non-payment of premiums is hereby extended for 30 additional days from and after October 27, 2005, for those policyholders in Jackson, Harrison and Hancock counties. or extensive damage to their property, it is the intent of this Bulletin to extend the moratorium for those persons particularly affected by Hurricane Katrina. Therefore, the 60 day moratorium on the cancellation/non-renewal for the non-payment of premiums is hereby extended for 30 additional days from and after October 27, 2005, for those policyholders in Jackson, Harrison and Hancock counties. This moratorium extension is not automatic; to be eligible for the 30 day moratorium extension, the policyholder must request this extension from their insurance carrier. Policyholders in these counties needing an extension are encouraged to contact their carriers and to be prepared to demonstrate that they have suffered significant adverse consequences in order to qualify for the premium moratorium extension. Likewise, insurers are encouraged to contact their policyholders in the three county impacted area and to work with them in providing relief under the moratorium extension where the circumstances so justify. The 30 day moratorium extension, if requested by the policyholder, will include a moratorium on any direct premium payments and payments made by automatic bank draft/electronic fund transfer arrangement. Policyholders are reminded that this moratorium is not a waiver; it is only an extension or grace period in which to pay the premiums. Insurers are reminded that they must work with impacted 1 policyholders in repaying the premiums that would have become due during the moratorium period by either allowing a repayment plan or a further extension in repaying the amount in full. Issued this the 26th day of October, 2005. GEORGE DALE COMMISSIONER OF INSURANCE 2