Tornadoes and severe storms recently devastated large areas of southern Indiana on March 2, 2012. As a direct response to those events and in an apparent effort to protect policyholders affected by the weather disaster, the Indiana Department of Insurance (“IDOI”) has issued a moratorium on the cancellation of insurance policies. Specifically, the Commissioner of the IDOI is requiring all insurance companies to implement an extension and/or grace period of sixty (60) days in the administration of insurance policies, including both personal lines and commercial lines.
