Mandatory Premium Refunds Credits

By Hanson & Ryan, Inc.

Calculating expenses and refunds

On March 9, 2020, Governor Phil Murphy issued Executive Order No. 103, declaring a state of emergency and public health emergency to contain the spread of the Coronavirus (“COVID-19”) pandemic. Exec. Order No. 103 (March 9, 2020), 52 N.J.R. 549(a) (April 6, 2020), (“EO 103”). Governor Murphy later directed New Jersey residents to remain in their homes unless leaving was essential through the issuance of Executive Order No. 107. Exec. Order No. 107 (March 21, 2020), 52 N.J.R. 554(a) (April 6, 2020), (“EO 107”). The New Jersey Department of Banking and Insurance (“Department”) recognizes the unprecedented challenges to New Jersey residents and businesses caused by COVID-19.

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