An industry trade group announced yesterday that property-casualty insurers have implemented a 60-day moratorium on cancellation and nonrenewal of insurance policies for people living in flood-affected Midwest counties.
Property Casualty Insurers Association of America (PCI) said the moratorium was instituted in cooperation with the Illinois, Indiana and Iowa insurance departments.
"We understand that residents are trying to get their lives back in order and this is one of the many things the insurance industry is doing to help," said Greg LaCost, PCI assistant vice president and regional manager.
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