Indiana has declared a State of Emergency for the entire state due to tornadoes and storms on March 14, 2024. Based on this, the Indiana Department of Insurance issued Bulletin 274 that requests that insurance companies refrain from cancelling policies and extends the grace period for a period of sixty (60) days from the date of the disaster in the affected counties.

In order to comply with the Bulletin, the following actions have been implemented:

• A moratorium on cancellation of any insurance contract for failure to pay premiums by insureds directly impacted by this disaster. This extension of the grace period shall apply between March 14, 2024, to May 13, 2024, unless extended.
• Suspend late-payment, reinstatement, or insufficient-funds fees along with any other fee, penalty, or interest charge resulting from the insured’s temporary inability to submit premium payments;
• The emergency rule applies to all kinds of insurance and all types of insurers.

The Department Bulletin can be viewed by accessing the following link.

https://www.in.gov/idoi/insurance-laws-rules-and-bulletins/