Subscribe Register Login

Monday, September 01, 2014, 7:52 p.m.
Top Picks - Capture Arkansas

Insurance moratorium issued in Arkansas storm areas

By The Associated Press

This article was published May 9, 2014 at 3:28 p.m.

The Arkansas Insurance Department has issued a 60-day moratorium on the cancellation or non-renewal of insurance policies for residents in areas hit by recent storms.

State Insurance Commissioner Jay Bradford said Friday that the moratorium is not automatic. Bradford says policyholders must contact their insurance carriers to request the extension.

The policyholders must have suffered significant property damage, injuries, or related loss of life as a result of the storms of April 27. Information on the counties affected by the storms may be found at www.fema.gov.

Comment on: Insurance moratorium issued in Arkansas storm areas

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

Displaying 1 - 1 of 1 total comment

Nodmcm says... May 11, 2014 at 9:19 p.m.

Would casualty insurance companies try to quickly cancel or non-renew policies issued to victims of the tornado, in an effort to avoid paying lawful and proper damage claims? That is what this moratorium is apparently meant to prevent. Now, unfortunately, it is not automatic, so ignorance or lack of awareness of the moratorium might cause some poor soul who lost their home in the tornado to also lose their insurance coverage due to a late payment, or non-renewal by the insurance company should the policy come due in the days after the tornado wrought its destruction. Often we are told that "big government" is always the problem, but in this instance, "big insurance companies" potentially seeking to avoid payment of legitimate claims are apparently the problem, and the government, the Arkansas Insurance Department, is perhaps all that is standing between the greedy insurance companies and the poor, down-and-out tornado victims.

( | suggest removal )

  • page
  • 1
Click here to make a comment

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

TOP JOBS

  • Autocad/gis

    AutoCad / GIS PositionFull Service engineering and environme...
    HOT SPRINGS NATIONAL PARK, AR

  • Full time sales person

    pine bluff and hot springs areas need one fulltime sales per...
    Pine Bluff, AR

  • Home inspector

    home inspectorinspection Company seeks an Individual in the ...
    BENTON, AR

  • Production workers

    earn egg-cellent pay Along with an excellent compensation pa...
    SILOAM SPRINGS, AR

  • Shipping supervisor

    earn egg-cellent pay Along with an excellent compensation pa...
    SILOAM SPRINGS, AR

Search 914 jobs >

Top Picks - Capture Arkansas
Arkansas Online