Live Breaking News & Updates on Premium Relief Obligations

Thursday, March 11, 2021
On March 11, 2021, California Insurance Commissioner Ricardo Lara expanded his prior orders regarding premium relief for any line of insurance in California where the measures of risk have become substantially overstated as a result of the COVID-19 pandemic. In Bulletin 2021-03, the commissioner specifically required insurers writing private passenger auto coverage to “report to the Department information about the additional premium relief that they provide to consumers.” In addition, for the report mandated under Bulletin 2020-08 and due by April 30, all reporting insurance companies must include a supplemental report to demonstrate how they plan to return additional premiums for the months of March through December 2020 where premiums remained overstated despite initial premium returns, if any. ....

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