Citizens extended its moratorium on cancellations until the end of 2020 in light of the pandemic. | Unsplash
Policyholders still struggle with the economic impact of COVID-19, so a moratorium on cancellations has been extended until the end of the year by Citizens Property Insurance Corporation.
The moratorium had been scheduled to end Aug. 15. The decision to extend was made after Citizens CFO Jimmy Patronis expressed his concerns and discussions on timing with Bo Rivard, Citizens Board of Governors chairman, Barry Gilway, CEO and executive director, said, Citizens reported on its website.
“This extension will provide our customers with further assurances that we have their backs during hurricane season and beyond. I thank CFO Patronis and Chairman Rivard for their input and support,” Gilway said, the website reported.
In March the number of premiums that hadn’t been paid by their due dates, leading Citizens to establish the cancellation moratorium. The levels now are back to pre-pandemic levels.
Rivard said Citizens has been taking care of customers during the pandemic, the website reported. He believes it is a good idea to extend the moratorium until the end of 2020 because of the coronavirus pandemic.
“Since enacting the moratorium in March, Citizens has put together special payment arrangements to assist customers still affected by COVID-19,” Gilway said after Patronis expressed his concerns, the website reported. “Specifically, we are allowing policyholders who typically pay premiums on a quarterly or annual basis the option of breaking up payments into smaller installments.”
Florida established Citizens Property Insurance Corporation as a not-for-profit alternative insurer. Its purpose is to provide insurance for property owners unable to find private insurance.
Customers can contact their agent with questions about payments or Citizens directly via email at customer.care@citizensfla.com or 1-866-411-2742.
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