New York State Department of Financial Services (DFS)

Emergency Regulations

April 27, 2020


We have been closely following developments around the recently issued emergency regulation from the New York State DFS which requires notification to be provided to policyholders regarding flexibility with premium payments.

Per the regulation, we will communicate the following provisions to policyholders with policies issued in the state of New York and policyholders who reside in New York, but have policies issued elsewhere – who have premiums due through May 31, 2020:

  • Grace period extension: If a policyholder is unable to make a premium payment on time and can demonstrate financial hardship as a result of COVID-19, we will extend the premium payment grace period to 90 days. We will not impose any late fees relating to the premium payment and, consistent with our normal practice, we will not report policyholders to a credit reporting agency or a debt collection agency regarding the premium payment.
  • Premium payment catch-up: If a policyholder is unable to make a premium payment on time due to financial hardship as a result of COVID-19, and can still demonstrate financial hardship as a result of the COVID-19 pandemic, we can work with them to pay the overdue premium over a 12-month period. This also applies if we sent a nonpayment cancellation notice prior to March 29, 2020.

Policyholders will start to receive notification letters during the week of April 27. This letter will provide information on these provisions, as well as specific instructions on how policyholders can demonstrate and attest to a financial hardship resulting from COVID-19. We have established a dedicated call center team to assist customers that require this relief in New York.

These provisions are temporary but may be extended further. We will keep you informed and you may also check the Department’s website at for updates.

We continue to monitor emergency orders in all other states and will continue working with customers to assist where we can. If you have any questions, please call us at 866-232-9769.

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