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Insurance and
Risk Management

Insurance and
Risk Management

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Update on Premium Credits for Personal Insurance Policies

We are pleased to provide our clients with the following update on premium credits for Personal Insurance Policies:

AIG 25% credit back for March & April 2020 Starting with 8/1 renewals (previously was starting in June)
BerkelyOne Starting June 15th, Customers in good standing with auto policies effective between April 1st and May 31st will receive a credit of 20% of earned auto premiums. The credits will be refunded via return check.
Cincinnati 15% discount will be applied for April and May, both months will be applied in mid to late June
Chubb 35% premium reduction for the months of April, May & a portion of June which will be applied automatically at renewal (Mid-August – Early October)
PURE 15% credit for the period of time from the start of the stay at home orders until they are lifted. Credit will automatically be applied once the lockdown is over.
Plymouth Rock
 25% off of liability and PIP coverage starting in May and will continue to apply credits as long as lock down is in place.
Hanover 15% credit for April and May premiums
Hartford 15% refund for the months of April and May applied in one lump sum, started at end of April.
Safeco 15% refund for April and May premium
Progressive 20% credit for April and May premiums. Will be released first 7-10 days in May and then another credit first week in June (Still stands)
Travelers 15% credit for April, May and June premium will be two credits. They will see the April credit in May, the May credit in June, and the June credit in July.
Vault 15% discount for April and May premiums. Will start applying June
NatGen National General will apply a 15% credit to personal auto, RV and motorcycle insurance premiums, which will be applied automatically to those who have an in-force auto policy as of April 30, 2020. This credit will not impact a customer’s in-force coverage and will be visible in accounts in the near future. Only for the month of April, and a state by state basis, some NY credit are not applied yet.

COVID-19 Update

As you are aware, our Personal Insurance Carriers have begun issuing premium credits on their automobile policies due to the greatly reduced usage of vehicles. Please refer below to your appropriate Insurance Carrier in order to determine your discount:

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AIG 25% credit for the months of March and April
BerkelyOne 20% credit for April and May
Chubb 35% credit for April and May
PURE 15% credit for the period of time from the start of stay at home orders until they are lifted
Plymouth 25% premium credit effective April 1st until guidelines are lifted. You will have the option to receive the credit or donate it to several charitable organizations.
Hanover 15% credit for April and May premiums
Hartford 15% refund for the months of April and May applied in one lump sum, started at end of April.
Progressive 20% credit for April and May
Travelers 15% credit for April and May
Safeco 15% credit for April and May
Cincinnati 15% credit for April and May
Vault 15% credit for April and May

We will update this as information is available. As always, our professional staff is available to answer your questions.

Business Income/Business Interruption Insurance information for our clients

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We have received several inquiries regarding the availability of business income/business interruption coverage for our clients who have been impacted by the COVID-19 virus. To that end, we are happy to walk through your insurance policy and review the coverage. Although it does appear that the virus exclusions on these policies would preclude coverage, we are requesting that our Insurance Carriers provide us with more definitive determinations.

In addition, the New York Department of Financial Services has mandated that every New York Insurance Carrier provide an explanation to every policy holder the coverage as it relates to COVID-19 both now, and as the situation changes. These letters will be going out shortly, and we expect all other states to follow suit.

Our firm has been tirelessly advocating and will continue to advocate for our clients through this crisis. We will submit claims on our client’s behalf, follow up, and will explore other avenues to assist. Please contact us with any questions.

About Mogil

The Mogil Organization has provided innovative risk management solutions and sound financial planning for individuals, families, business owners and corporations since 1957.