Bakos Companies

The Bakos Agency, Inc.
1099 French Rd
Cheektowaga, NY 14227
(716)668-5700 - Phone
(716)668-5840 - Fax

Dear Valued Insurance Customer,

We hope that this message finds you and your family safe and healthy.

These are difficult times. The New York Legislature and Department of
Financial Services have been implementing emergency measures in an effort to
protect insurance policyholders who have been hit with financial hardship because of
the COVID-19 pandemic. Regulations they enacted include: the waiver of late fees;
the prohibition on reporting negative data to credit reporting agencies; and the
repayment of late premiums over a 12-month period.

If you have been impacted by this pandemic, this means help may be available.

· If you can demonstrate that you're unable to make a timely premium payment due
to financial hardship because of the COVID-19 pandemic, you may pay such
premium over a 12-month period.

· If you policy is financed through a premium finance agency, they must provide a
grace period before cancelling your policy for late payment of an installment if you
can demonstrate financial hardship because of the COVID-19 pandemic. This
grace period will be 60 days for a property/casualty policy; 90 days for a life
insurance policy. You will be given a 12-month period to pay the missed
installment, and the premium finance agency may not impose late fees or report
you to any credit reporting agency or debt collector because of that installment.

You may prove hardship by submitting a written attestation to the insurance company
or premium finance agency regarding your financial hardship resulting from the
COVID-19 pandemic. The full text of the relevant regulations can be read here:
https://www.biginy.org/nysdfs.

If you have any questions about this or your policy, don't hesitate to contact our team.

We're proud to continue helping you protect what matters most.

Stay safe,

Ann Wagner
Julie Wagner
The Bakos Agency, Inc.