NC Commissioner Issues Payment Deferral
All insurance companies doing business in North Carolina were ordered to defer premium payments for customers under an emergency declaration activated by the Insurance Commissioner Mike. His declaration followed President Donald Trump's major disaster declaration for the state last week. State law allows the insurance commissioner to issue a payment deferral order once the president issues a major disaster declaration. Causey's order applies to all insurance companies, as well as collection agencies, motor clubs, and premium finance companies licensed by the N.C. Department of Insurance. The order defers not only premium payments but also statutory time requirements. Notices of cancellation are also deferred.