CTTA President on Insurance Policy Premium Refunds
Attention Fellow Towers,
I am hearing from some of you regarding the press release from the insurance commissioner regarding the refund of several months of insurance policy premiums due to the COVID-19 crisis. The CTTA recommends that you continue to pay your premiums and do not expect the refunds. If you do receive the refund, think of it as a bonus. Regardless of refund status, you should be prepared for an audit. We strongly suggest that you contact your insurance broker and stay in constant communication regarding the subject. Keep in mind that our industry has very few insurance carriers that are willing to work with us.
Stay proactive and check the California Department of Insurance’s website periodically for updates. You can find the Department’s bulletin HERE and a copy of my message HERE.
– Quinn Piening, CTTA President