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Ohio issues declaration regarding premium payments

July 12, 2012

The State of Ohio declared a federal state of emergency resulting from storms occurring on June 29, 2012. As a result, all insurance companies and other entities transacting insurance in Ohio are to give insureds affected by the disaster the option of deferring payments coming due, interest free, for up to 60 days from the original premium due date.

In addition, for any provisions that impose a time limit on an insured to respond, including the transmittal of information or funds, the insurer is to extend the deadline by at least 60 days from the last day allowed under the terms of the contract. The 60-day period ends September 30, 2012.

You can read the declaration here.

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