On December 6, 2022, the North Carolina Department of Insurance (DOI) issued an advisory to insurance companies regarding policyholders affected by the electrical power outages in Moore County.

Many residents of Moore County experienced power outage on December 3, 2022 as a result of what has been described as vandalism to multiple electrical substations. This has caused some residents to struggle with the basic necessities of life, including food and heat, and they may not be able to make premium or debt payments on certain insurance products. 

The DOI urges insurers to consider the following actions, consistent with prudent insurance practices:

• Relaxing due dates for premiums payments;
• Extending grace periods;
• Waiving late fees and penalties; and
• Allowing payment plans for premiums payments to otherwise avoid a lapse in coverage for those consumers living in the affected areas of Moore County and surrounding areas.

Additionally, insurers should only consider cancellation or non-renewal of policies after exhausting other efforts to work with policyholders to continue coverage.

Please refer any questions regarding the advisory to Fred Fuller at Fred.Fuller@ncdoi.gov. 

Link to NC DOI Advisory