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Ex. NJ-012 Order Primary source read

Executive Order No. 123 (2020)

Emergency grace periods for insurance premium payments (90 days property, casualty and life; 60 days health and dental)

Governor Philip D. Murphy · New Jersey (State)

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The COVID Project

The record

Jurisdiction
New Jersey
Level
State
Authority
N.J.S.A. App. A:9-33 et seq., -45, -47
Issued
2020-04-09 Apr. 9, 2020
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) (read as 2020-04-09)
End
Listed in P.L. 2021, c. 103, sec. 1(4) to remain in effect until January 1, 2022 (read as 2022-01-01)
In force
Apr. 9, 2020 to Jan. 1, 2022
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Other
Addressees
  • property and casualty insurers
  • life insurers
  • insurance premium finance companies
  • health insurers, HMOs, health service corporations and dental benefits carriers
Functions reached
  • IN insurance (no cancellation for nonpayment; claims paid; amortization of arrears)
  • CC collections and billing
  • CB policyholders
Collection
New Jersey NJ

Operative words

Para. 1: subject entities "shall 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". Para. 2: "The Commissioner of the Department of Banking and Insurance may extend these emergency grace periods further".

Enforcement

DOBI regulatory authority; implemented by Bulletins 20-15 (NJ-105) and 20-27 (NJ-106)

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.

Retrieval note

Read from nj.gov.

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.