|Posted:||June 4, 2020 09:52 AM|
|From:||Representative Tina M. Davis|
|To:||All House members|
|Subject:||Grace Periods for Payment of Insurance Premiums|
|Insurance needs to be there when it matters most. Whether it is life, health, auto, flood, renters, homeowners, or another type of insurance policy, we use insurance as a vital tool in reducing our exposure to risks – and having coverage can give needed peace of mind when disaster strikes.
Pennsylvanians are experiencing the unprecedented economic hardship that is the result of the COVID-19 pandemic. We all know somebody who is struggling to pay their bills right now – and in many cases, insurance costs are no small part of a person’s monthly budget. Individuals should not lose their insurance coverage because a disaster has shuttered businesses and temporarily impacted their ability to pay an insurance premium.
That’s why I will be introducing legislation that would require insurance companies to provide a 90-day grace period for the payment of insurance premiums during a disaster emergency. Many states have required such grace periods in response to the COVID-19 pandemic and in the aftermath of natural disasters. Pennsylvania so far has only recommended that insurers provide a grace period. My legislation will make it a requirement, and in so doing will ensure individuals do not have their insurance policies canceled due to a temporary inability to pay.
The people of Pennsylvania are crying out for relief from the unprecedented economic hardship that is the result of the COVID-19 pandemic. Please join me in providing an amount of relief by supporting this legislation.
Introduced as HB2727