Lockdown support measures available for affected customers: insurers
A range of support measures such as temporary premium relief plans is in place to support customers through the latest COVID lockdowns, major insurers say.
The support for customers comes as the country looks to quell the Delta variant, which sparked the worst outbreak concerns since the pandemic broke out in March last year.
NSW Premier Gladys Berejiklian said this morning her government was still working on an exit strategy, refusing to commit to a firm date out of the current lockdown. Greater Sydney is in the second month of its current lockdown, with the state reporting 145 new cases today.
Victoria and SA are poised to lift some curbs tomorrow night amid signs of a stabilisation in new community transmissions in those states.
Suncorp says its Suncorp Insurance, AAMI, Apia and GIO customers who are experiencing financial hardship can apply for flexible premium options and there will be no fees for customers who wish to change premium payments from annual to monthly.
It also has dedicated teams on hand to support customers experiencing financial hardship and has set up an “insurance health checks” service to help them save premium through options such as reduced vehicle usage.
QBE says it is supporting its customers and partners through the current lockdown.
A spokesman told insuranceNEWS.com.au the insurer is providing support for clients experiencing vulnerability, which enables those in financial hardship to seek relief in deferring premium payments or transitioning to monthly instalments.
“In addition to this, we are supporting requests from our commercial and SME customers to maintain cover on unoccupied buildings that have closed due to lockdown and laid up vehicles that are not on the road during this period,” the spokesman said.
“We’re continuing to review our support for customers as these lockdown scenarios evolve and encourage anyone experiencing financial hardship to reach out to us to discuss how we can help.”
A spokesman for Allianz says a range of provisions is in place for customers in need of support during the lockdown.
These provisions include the option for home and motor customers to put their monthly payment on hold for up to 60 days, no cancellation fees and the option for policyholders to defer or pay their excess in instalments if they need to make a claim.
“Allianz understands this is a very difficult time for many Australians impacted by the current lockdowns, and we want to reassure our customers we are by their side if they need us,” the spokesman told insuranceNEWS.com.au.
“We strongly encourage any customer experiencing financial hardship to call us for a free policy health check to ensure their policy still meets their needs, our dedicated support teams will also help to see if any reductions can be made in order to reduce their premium.”
IAG has also reaffirmed its commitment to support customers with a range of measures.