Mississippi insurance companies issue moratorium

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MADISON, Miss. (WJTV) — As the coronavirus continues to spread, insurance companies are taking action.

The Mississippi Insurance Department has ordered all companies within the state to place a moratorium on cancellation of insurance policies for nonpayment of premium on all clients, that includes Keith Hawsey’s Nationwide clients in Madison and Jackson.

“This is for personal clients and for commercial clients basically saying they’re gonna give them 60 days to where their policy will not cancel for non-payment of premium,” Hawsey said.

It’s designed to provide a cushion for clients struggling during the pandemic.

“It’s a temporary fix to kinda help them get through this period,” Hawsey said. “If they’ve lost their job, if they have other things they need to pay for.”

Hawsey said if someone needs help paying premiums, they reach out to their insurance agent or insurance company.

Nationwide isn’t the only making adjustments. Allstate & American Family are refunding part of car insurance premiums because fewer people are driving.

Hawsey explained that the cut off date for clients to take advantage of this is May 23.

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