Per Genworth’s home office, your policy won’t be affected if you don’t pay it. It is a surcharge that we’ve never seen before. The purpose is for a bailout of a failed company (Penn Treaty) which is headquartered in PA. The state of California passed a resolution that allows carriers to collect money from policyholders for this bailout fund when it typically comes just from the carrier. Genworth is the only company of which I am aware that is doing it.
Posted in: Consumer