State Insurance Commissioner Calls for Lower Auto Premiums
The Connecticut Insurance Department has called for insurers to lower premiums on motor vehicle policies and adjust commercial hired and non-owned policies.
In an April 6 notice, CID commissioner Andrew Mais urged auto insurers to lower premiums to reflect reduced vehicle travel across the state because of the coronavirus pandemic.
“It is generally understood that consumers are driving less during the pandemic and, as a consequence, being less exposed to motor vehicle accidents causing injuries and property damage,” he said.
“The department is aware of a few insurers offering a premium credit to their customers reflecting this reduced exposure.
“In order to provide some relief to the many Connecticut drivers who are suffering financially from the consequences of the COVID-19 pandemic, the insurance commissioner is urging all Connecticut automobile insurers to consider offering an immediate reduction in premiums.”
Mais suggested premium credits as one method of providing immediate relief, noting that “a filing could be made after-the-fact without penalty.”
“The department also encourages consumers to contact their insurers to request consideration for reduced auto premiums related to their reduced driving,” he wrote.
Mais also called for insurers to provide commercial hired and non-owned vehicle insurance for restaurants limited to delivery and take-out service.
For more information, contact CBIA’s Michelle Rakebrand (203.592.7532) | @MRakebrand
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