The Insurance Supervision Agency announced that for loans whose payment is delayed for three months, according to the decision of the Central Bank, and which are covered by insurance policies, the validity of the insurance policy will not be automatically extended.
"As an insurance contract is a different legal matter from a loan contract, insurers will continue to provide coverage under concluded insurance contracts even during the period of validity of the moratorium. Therefore, we recommend all persons who have an obligation to pay a premium in connection with an approved loan to contact the insurance company with which the insurance contract was concluded, in order to ensure continuity in coverage," the Insurance Agency stated.
They invited citizens who applied for a three-month loan installment delay, and for which the loan was guaranteed by an insurance policy, to contact their insurance company via email or phone to agree on an extension of the insurance premium.
The agency called on insurance companies to keep in mind the current situation and to show a certain level of flexibility.
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