N.J. Insurers Must Extend Grace Periods for Payment of Premiums, Governor Says

TRENTON, N.J. — New Jersey Governor Phil Murphy has signed an executive order that bars health, property and casualty insurers from canceling policies for nonpayment of premiums during the COVID-19 crisis.

Executive Order No. 123, signed on April 8, establishes a minimum 60-day grace period for health and dental insurance policies, and a minimum 90-day grace period for life insurance, insurance premium-financing arrangements, and property and casualty insurance, which includes auto, homeowners, and renter’s insurance.

In addition, insurers will be required to pay any claim incurred during the emergency grace period that would be covered under the policy. They …