BISHCA Takes Steps to Protect Storm-Impacted Policyholders
Department of Banking, Insurance, Securities & Health Care Administration Commissioner Steve Kimbell has issued two bulletins to insurance companies related to the after-effects of Tropical Storm Irene:
• Bulletin 165 authorizes insurers to use catastrophe adjusters and appraisers. The authorization allows insurers to bring in additional staff to process Vermont claims.
• Bulletin 166 reviews the Commissioner’s expectations of insurers as they assist Vermonters with storm-related claims. Insurers are asked to provide temporary suspension of premium payments for Vermonters affected by the flooding and not to cancel or refuse coverage due solely to an individual’s status as a victim or evacuee of this disaster.
Commissioner Kimbell is also urging Vermonters to take steps to ensure that their insurance does not lapse or cancel for nonpayment of premium. “Many Vermonters are still having difficulty receiving mail or getting access to their insurance records,” said Kimbell. “Homeowner and auto policyholders who are uncertain about the status of their insurance policies should contact their insurer or broker. In response to this emergency insurers are taking special actions to help our customers affected by the storm. The best way to learn whether your insurer is prepared to take special steps for you is to call them.”
Important information about how to manage a flood claim and where to go for assistance is available at the Department’s Website: www.dfr.vermont.gov
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