60-day insurance moratorium in effect for flood victims

60-day insurance moratorium in effect for flood victims

JONESBORO, AR (KAIT) - One less thing for flood victims to worry about: On Friday, Arkansas Insurance Commissioner Allen Kerr announced a 60-day moratorium on the cancellations/non-renewal of policies for non-payment for those affected by the recent floods.

"In order to help Arkansans struggling with storm damage and flooding, I have issued this moratorium that applies to all types of insurance policies sold in this state," Kerr said. "This action does not waive the obligation to pay their insurance premiums; it is only an extension of the time period to make your payment without the threat of cancellation."

The 60-day moratorium is effective as of April 26. It affects Region 8 residents in the following counties:

  • Baxter
  • Clay
  • Cleburne
  • Craighead
  • Cross
  • Independence
  • Izard
  • Jackson
  • Lawrence
  • Randolph
  • Stone
  • White
  • Woodruff

To be eligible for the moratorium, policyholders must have suffered significant property damage, injuries, or related loss of life as a result of the storms.

Also, they must request the extension from their insurance carrier.

To read the full text of the bulletin covering the moratorium, click here.

Kerr also warned property owners of unlicensed, non-insured contractors offering repair services and that unlicensed public adjusting is illegal in the state.

"In the aftermath of a catastrophic event in the state, insurance companies assign adjusters to process claims," Kerr said.

Copyright 2017 KAIT. All rights reserved.

Watch Region 8 News On Demand: On your Desktop | On your Mobile device

Region 8 News App - Install or update on your: iPhone | Android