Updates from CA Insurance Commissioner
The circumstances concerning COVID-19 have shifted the way many of us conduct business. We ask that you please provide our team any updates in business operations, changes in estimated payrolls and changes in estimated gross sales.
On April 13, 2020, Commissioner Lara and the Department of Insurance ordered insurance companies to return premiums to consumers and businesses paid for at least the months of March and April — including the month of May if “shelter in place” restrictions continue — in at least six different insurance lines: private passenger automobile, commercial automobile, workers’ compensation, commercial multi-peril, commercial liability, medical malpractice, and any other insurance line where the risk of loss has fallen substantially as a result of the COVID-19 pandemic.
See Insurance Commissioner’s Bulletin: http://www.insurance.ca.gov/0250-insurers/0300-insurers/0200-bulletins/bulletin-notices-commiss-opinion/upload/Bulletin_2020-3_re_covid-19_premium_reductions-2.pdf
See more information on Coronavirus: http://www.insurance.ca.gov/01-consumers/140-catastrophes/Coronavirus.cfm
At this time, DSG is standing by for the latest updates and details from the Insurance Commissioner. Within the next upcoming months insurance companies will have until August 2020 to respond to these measures.
For specific questions relating to your policy, please reach out to your dedicated Account Manager.