Company will Suspend all Nonrenewals, Cancellations and Reporting Requirements for Workers’ Compensation Policyholders in or Around Counties that have been Declared Disaster Areas by Governor Rauner
SPRINGFIELD, Ill., April 20, 2015— ICW Group Insurance Companies announced today that it is implementing safeguards for policyholders that have been affected by the severe storms and tornadoes in the state—ensuring that the there is no lapse in coverage during this difficult recovery process. In accordance with the Illinois Department of Insurance Company Bulletin 2015-08, “Suspension of Cancellation, Non-renewal and Premium Payments,” ICW Group has enacted the following directives:
- A moratorium on cancellations and nonrenewals for any notice issued on or after April 9, 2015, on any in-force policy issued to affected policyholders. Additionally, no new notices will be issued to affected policyholders until June 9, 2015—or later if deemed reasonable.
- Extensions will be granted to affected policyholders on any and all provisions and reporting requirements, including submission of a claim, proof of loss, payroll reporting and payment for a minimum of 60 days from the last date allowed—or required by the policy. Additional extensions will be granted, if deemed reasonable.
“We are committed to our policyholders’ speedy recovery during this rebuilding period, and will fully comply with the guidelines outlined by the Illinois Department of Insurance,” said Kevin Prior, president and CEO of ICW Group.
The company will be sending an email to its Illinois agents and brokers outlining the above safeguards. It will also provide real-time announcements via LinkedIn at www.linkedin.com/companies/icw-group and on Twitter via @ICWGroup.
About ICW Group
Based in San Diego, ICW Group Insurance Companies is the largest privately held insurance company domiciled in California. Quoting more than $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company. ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims, and is committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them. More information is available at www.icwgroup.com.