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New Jersey Grace Period Communication to Policyholders

June 22, 2020

A communication went out last week to a section of our Cumberland New Jersey policyholders that unfortunately has caused some confusion.  This specific notification to customers was in response to a requirement by the New Jersey Department of Banking and Insurance Bulletin request that policyholders be notified of a potential premium payment grace period offering due to the impact of the pandemic.  (As part of this offering, if a customer had a payment due they could select a 90 day grace period starting on either 4/1/20 or 5/1/20).  

Please note that we should have been more explicit in highlighting that if a policyholder is current with their premium payments and/or has no interest in requesting a grace period accommodation, there is no additional action required on their part.  We are truly sorry for any additional aggravation or confusion that this may have caused. 

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