Financial Options for Hiscox Policyholders affected by COVID-19
Hiscox is here to support our customers through this challenging time and to provide you with premium payment options to help you keep your policy in force. Please find state specific information below.
The state of Delaware Executive Department issued the Twenty-Third Modification of the Declaration of a State of Emergency directing all insurance carriers to provide a 90-day payment plan for past due premiums to individual policyholders who demonstrate financial hardship due to the Covid-19 State of Emergency, or, if the policyholder is a business, the business demonstrates it was required to close or significantly reduce its business operations due to the Covid-19 State of Emergency.
District of Columbia
The District of Columbia Department of Insurance, Securities and Banking has issued Commissioner’s Order 03-2020 prohibiting all insurance carriers from terminating insurance contracts due to non-payment for the duration of the Public Health Emergency, as declared in Mayor’s Orders 2020-045 and 2020-046. Subsequently, the Public Health Emergency was extended via Mayor’s Order 2020-079. In response to this mandate, Hiscox will not process any cancellations for the duration of the Public Health Emergency, which is scheduled to expire on December 31, 2020.
Additionally, Hiscox will assist policyholders who require extended time to pay overdue premium amounts and actively request alternative payment options. To be eligible, you must request an extension by January 31, 2021. Learn more.
The State of New Jersey Department of Banking and Insurance has issued Bulletin No. 20-15 directing all insurance carriers to provide their policyholders who may be experiencing financial hardship due to COVID-19 with 90-day grace period to pay insurance premiums so that policies are not cancelled for nonpayment. This grace period to begin either on April 1, 2020 or May 1, 2020. In response to this mandate, Hiscox did not process a cancellation or non-renewal for any New Jersey policy of insurance with past due premiums that accrue between April 1, 2020, and August 1, 2020.
New York State Department of Financial Services issued regulation on New York Governor Andrew Cuomo’s Executive Order extending grace periods and other rights to small businesses in New York that can demonstrate financial hardship as a result of the novel coronavirus (COVID -19) pandemic.
The state of Oregon issued the second executive extension of Executive Order 20-03 directing all insurers transacting property and casualty insurance in Oregon, extending and modifying the relief that insurers are to provide to Oregon insureds. Subsequently, the state of Emergency was extended via Executive Order 20-30. The directive requires all insurance carriers to provide a 60-day grace period to pay premiums for policyholders experiencing financial hardship and suspend involuntary cancellations and non-renewals for active policies that are in grace periods.
In response to this mandate, Hiscox will provide a grace period to expire on October 1, 2020 for all policyholders. Hiscox will not process any cancellations for non-payment for the duration of the Executive Order.
Policyholders that would like to pursue options for their policy can do so by calling this special toll-free number and speak to a Hiscox advisor: 1-855-975-6268 (Monday – Friday, 7am – 10pm ET).