Vermont asks insurers for flexibility
Vermont's Department of Financial Regulation has given a directive to all insurers. They have asked them to provide flexibility as people wait to apply for unemployment or receive money from the stimulus bill.
But the state is telling consumers if they are worried about making a payment they need to be proactive.
"The first thing is to reach out to that entity, to reach out to that company, that firm, the bank and ask them what their policy is around deferment, around the delay of payments for premium, for mortgages, for loans, because all of our financial institutions have exhibited a great deal of flexibility and willingness to work with their customers and clients," said Michael Pieciak, the commissioner of the Vermont Department of Financial Regulation.
At this time, Gov. Phil Scott says he does not see a need to order all insurers to provide changes for their consumers and he is confident Vermonters will be supported by upcoming funding.