News

Notice to Colorado Insureds

By: Topa Insurance Company
Posted on: April 23, 2020

Notice to Colorado Insureds

The novel coronavirus (COVID-19) outbreak and emergency public health measures by state and local leaders has led to widespread business interruptions, unemployment and disruption of daily activities for consumers, including but not limited to self-quarantine and isolation to protect their and the public’s health. Due to the unprecedented and extraordinary impact of the COVID-19 emergency, Topa Insurance Company will make accommodations to prevent individuals and businesses from losing coverage due to cancellation for the non-payment of premium during this unprecedented time.

The accommodations that Topa Insurance Company will make include, but are not limited to, the following:   

  1. Extension of premium grace periods;
  2. Waiver of late payment fees;
  3. A moratorium on cancellations for non-payment;
  4. Deferral of any non-renewal underwriting actions (due to non-payment); and,
  5. Providing continuation of coverage for expiring policies.

The purpose of providing accommodations is to prevent individuals and businesses from losing coverage due to cancellation for non-payment of premium due to the effects of COVID-19.  These accommodations take effect immediately and remain in effect for as long as Colorado Department of Public Health and Environment Public Health Orders 20-20, 20-22, 20-23 and 20-24 are in effect or until Colorado Division of Insurance Bulletin No. B-5.38 is rescinded, whichever is later.

Topa Insurance Company encourages policyholders to use electronic payment technology on websites, apps and electronic bank transfers whenever possible.

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