Hollard has added to a package of financial assistance measures and extended the timeframe by three months as clients continue to face changing circumstances and stresses due to the coronavirus outbreak.

The insurer is taking away a restriction on the number of days that stock and contents can be removed from a main premises, given new arrangements that are seeing more equipment being used to work remotely.

A liability extension will also assist businesses that are increasingly serving customers outdoors as more firms open their doors while Government-mandated rules continue to affect operations.

“With social distancing rules restricting the amount of people within the insured premises we are seeing more businesses either have queuing systems or operations on footpaths,” Hollard says on its website.

The insurer has already offered an extension of credit terms, a short-term renewal option and assistance for unoccupancy as a result of the COVID-19 outbreak.

All the SME assistance initiatives will now apply to existing policyholders up until September 30.

“We will continue to review developments in the coming months and may announce an extension to these offers or further changes as needed,” the insurer says.

Hollard has also highlighted that it has arrangements in place for policyholders who are experiencing financial issues at claims time, with its financial hardship and vulnerability arrangements in line with the updated General Insurance Code of Practice criteria.

Insurers including Hollard, IAG, QBE, Suncorp and Allianz have outlined measures to assist customers as the coronavirus outbreak has taken a heavy toll on business clients.

The Australian Competition and Consumer Commission provided an interim authorisation for measures jointly announced by QBE, Suncorp and Allianz until June 30. It was flagged in early April that the effects of implementing the initiatives could potentially continue to up December 31.