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Board Issues 60-Day Moratorium on Policy Cancellations

Tuesday, April 7, 2020 | 254 | 0 | 13 min read

Insurance carriers should refrain from cancellations and non-renewals of all policies for struggling individuals and small businesses for at least 60 days, the New York Workers' Compensation Board said in a bulletin. Insurers should also hold off on canceling policies for group insurance plans if the group is facing financial hardship as a result of the COVID-19 epidemic that has hit the New York area harder than most cities. A small business is defined as one with 100 or fewer employees, the board said. An employer can show it is facing financial difficulties by filing an attestation wi...

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