The New Jersey Department of Banking and Insurance directed insurance companies in the state to provide premium reductions to consumers and businesses during the COVID-19 emergency. The bulletin issued May 12 by the department covers premiums that are paid during the public health emergency that began March 9th and applies to property and casualty insurance providers.
The Department issued a bulletin directing insurance companies that offer personal and commercial lines of insurance including personal and commercial auto insurance to provide premium refunds or similar forms of relief to policyholders. The department’s directive reflects the reduced risk of loss due to
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