State Insurance Department issues premium moratorium

LITTLE ROCK (KATV) - State Insurance Commissioner Jay Bradford has sent a notice to insurance carriers, placing a 60-day moratorium on the cancellation/non-renewal for non-payment of premiums for policyholders living in areas impacted by the April 27 tornado.The Commission says the moratorium extension is not automatic, and that in order to be eligible for the 60-day moratorium, interested policyholders must contact their insurance company to request the extension. "This is not a permanent waiver, merely a grace period of 60 days in which to pay premiums while they get their lives back in order," Bradford said. {}