Hurricane IrmaState-Backed Citizens Extends Moratorium on Policy Cancellations
"This extension will provide our customers with further assurances that we have their backs during hurricane season and beyond," says Citizens President and CEO Barry Gilway.
July 28, 2020 at 08:00 AM
3 minute read
After pressure from Florida Chief Financial Officer Jimmy Patronis, the state-backed Citizens Property Insurance Corp. has extended a moratorium on the cancellation of policies until the end of the year because of the COVID-19 pandemic.
The moratorium, which started in March as COVID-19 began to cause massive economic problems and job losses, had been scheduled to expire Aug. 15. But in a prepared statement Saturday about the extension, Citizens Chairman Bo Rivard said COVID-19 has been a "moving target."
"Our top priority has been and will continue to be our policyholders," Citizens President and CEO Barry Gilway said in a statement. "This extension will provide our customers with further assurances that we have their backs during hurricane season and beyond."
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