{"id":"NJ-012","kind":"order","level":"state","jurisdiction":"New Jersey","state":"NJ","metro":"","industry":"","agency":"","eco":"","issuer":"Governor Philip D. Murphy","authority":"N.J.S.A. App. A:9-33 et seq., -45, -47","instrument":"Executive Order No. 123 (2020)","title":"Emergency grace periods for insurance premium payments (90 days property, casualty and life; 60 days health and dental)","dateIssued":"2020-04-09","effective":"2020-04-09 (immediately); grace periods as directed by the Commissioner of Banking and Insurance (DOBI Bulletins 20-15, 20-16, 20-17, 20-27 and others)","end":"Listed in P.L. 2021, c. 103, sec. 1(4) to remain in effect until January 1, 2022","startDate":"2020-04-09","endDate":"2022-01-01","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["property and casualty insurers","life insurers","insurance premium finance companies","health insurers, HMOs, health service corporations and dental benefits carriers"],"clause":"Para. 1: subject entities \u0022shall not cancel during the emergency grace period any policy or contract as a result of nonpayment as defined as follows: a. In the case of property and casualty insurance companies, life insurance companies, and insurance premium finance companies, for a period of at least 90 days, during which period claims shall be paid without regard to prior nonpayment of premium by the policyholder; and b. In the case of health insurance companies... for a period of at least 60 days, during which period claims shall be paid without regard to prior nonpayment of premium by the policyholder and the cost of which claim may not be recouped\u0022. Para. 2: \u0022The Commissioner of the Department of Banking and Insurance may extend these emergency grace periods further\u0022.","enforcement":"DOBI regulatory authority; implemented by Bulletins 20-15 (NJ-105) and 20-27 (NJ-106)","functions":["IN insurance (no cancellation for nonpayment; claims paid; amortization of arrears)","CC collections and billing","CB policyholders"],"notes":"Financial services: carriers and premium finance companies were ordered to carry non-paying insureds and pay their claims; the order stayed on the books through Q3 2021.","sourceUrl":"https://nj.gov/infobank/eo/056murphy/pdf/EO-123.pdf","snapshot":"","fileExists":true,"fileBytes":94723,"grade":"primary","character":"","description":"","collection":"NJ","url":"/library/NJ-012","exhibitUrl":"/exhibit/NJ-012","citation":"Governor Philip D. Murphy, Executive Order No. 123 (2020) (Apr. 9, 2020) (Ex. NJ-012)","stateName":"New Jersey","related":["NJ-105","NJ-106","NJ-011","NJ-009","NJ-010","NJ-013","NJ-008","NJ-006","NJ-007","NJ-004","NJ-005","NJ-003"]}