On March 27, 2023, the Mississippi Insurance Department (MID) issued Bulletin 2023-2 regarding policyholders affected by the March 24, 2023 severe weather.
A State of Emergency Proclamation was issued by Governor Tate Reeves on March 25, 2023 for all counties impacted by the severe weather. While there was property damage throughout the state, major damage occurred in the counties of Sharkey, Humphreys, Carrol, and Monroe and the towns of Silver City and Rolling Fork.
As a result, the MID Bulletin encourages insurers to work with affected policyholders for a 90 day period (March 24, 2023 to June 21, 2023) before issuing a cancellation or non-renewal of policies due to the non-payment of premiums. The MID is not imposing an automatic moratorium on insurance carriers.
