The California Insurance Commissioner has ordered insurance companies to rebate consumers a portion of policy premiums for March, April and May on the grounds that coronavirus restrictions have reduced risk of accidental loss. (Flickr photo)

Insurance companies will need to return premiums to customers and businesses affected by the novel coronavirus pandemic by order of California Insurance Commissioner Ricardo Lara, his office announced early Monday.

The commissioner’s office said the shelter-in-place order across the state has reduced the overall risk of loss.

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