Massachusetts regulator urges premium finance companies to work with customers

State Issues Covid-19 Massachusetts Insurance Consumer Finance

On May 1, the Massachusetts Division of Banks issued guidance to insurance premium finance companies, stating that it “expects” them to provide relief and flexibility to customers during the Covid-19 pandemic. The division issued the guidance in light of a March 23 bulletin in which the Massachusetts Division of Insurance urged Massachusetts insurance carriers to take steps to preserve individual access to insurance coverage.