THE INDUSTRY RESPONDS TO CALLS
FOR MANDATED COVERAGE
TLR Statement on COVID-19 Liability
As our nation copes with the coronavirus pandemic, we are all concerned about the health and well being of our families and neighbors. We are in this together. We are experiencing a devotion to duty and a level of responsibility throughout our society that is inspiring and reminiscent of our national effort during World War II. Read more here.
Chubb CEO: Why pandemic losses are not included in business interruption insurance
Extending business interruption losses is a “self-inflicted injury” and would create “great uncertainty at a time when we have enough uncertainty,” Chubb CEO Evan Greenberg told CNBC. Watch the video here.
US Congressman Pramila Jayapal of Washington State wrote a letter to nine insurance companies with questions and concerns about the denial of business interruption claims due to the coronavirus. Read that letter here.
How Re-evaluating the Claims Handling Process Can Improve Outcomes
ESIS is leading the charge in leveraging data analytics and adjuster experience to change the workers compensation claim watch management paradigm and drive improvements in outcomes and help client reduce their total cost of risk. Read more here.
APCIA supports creation of federal business-recovery fund
APCIA is among the 36 groups calling for a federal recovery fund for businesses affected by the coronavirus pandemic, providing assistance in addition to the $2.2 trillion stimulus package approved last week. “The COVID-19 Business and Employee Continuity and Recovery Fund is an additional tool to address the economic challenges brought on by this unprecedented crisis. Read more here.
National Association of Mutual Insurance Companies: Coronavirus and the Mutual Insurance Industry
The National Association of Mutual Insurance Companies issued the following statement on March 27 by President and CEO Charles M. Chamness:
“Despite the unprecedented economic disruption caused by the response to the COVID-19 pandemic, NAMIC member companies remain focused on their sole mission of serving policyholders. Mutual insurance companies have taken steps to help their policyholder members get through this crisis, including increased flexibility and the adoption of procedures to enable remote inspections and claims adjusting. Read more here.
Joint Memo to Texas House Insurance and Senate Business & Commerce Committees
Trade Associations including, ICT, AFACT, APCIA, NAMIC and TCAIS, representing carriers who write property and casualty insurance in Texas sent a Joint Memo to Texas House Insurance and Senate B&C Committees on Business Interruption Insurance. Read the memo here.
NAIC Statement on Congressional Action Relating to COVID-19
State insurance regulators are committed to working at the state and federal level to help mitigate the devastating economic impacts of the coronavirus (COVID-19) pandemic. Read more here.
National Council of Insurance Legislators (NCOIL) letter Re: Business Interruption Insurance and Coronavirus
National Council of Insurance Legislators (NCOIL) sent a letter to The Honorable Nydia M. Velazquez, Chair of the House Committee on Small Business and Members of Congress. Read the letter here.
Triple-I: Insurers Well-Positioned to Confront COVID-19’s Challenges
The U.S.’s auto, home, and commercial insurers have the financial resources to meet its obligations during the COVID-19 crisis, according to a presentation the Insurance Information Institute (Triple-I) delivered to state regulators. Read more here.
THE INDUSTRY HELPS THEIR CUSTOMERS
Erie Insurance provides auto insurance relief during COVID-19 pandemic
Erie Insurance announced two hundred million dollars in direct dividend payments for car insurance customers on top of a reduction in premiums. This new relief brings the total effort to four hundred million dollars. Fortune 500 company Erie Insurance announced that it will provide two hundred million dollars in direct rebates to both personal and commercial auto insurance customers. Read more here.
Here’s exactly what relief auto insurance companies are offering drivers during the coronavirus pandemic
With millions under stay-at-home orders and working remotely, American roadways are seeing a lot less congestion and accidents. That means less risk of insurance claims — and auto insurers are taking note. Read more here.
AAA is always there for you
AAA members who insure their vehicles through the Interinsurance Exchange of the Automobile Club and its affiliate insurers (Auto Club Enterprises Insurance Group) will receive premium refunds totaling approximately $125 million. Read more here.
Insurers offering $10.5 billion in rebates – but who is offering what?
Auto insurance companies in the US will offer about $10.5 billion in insurance premium rebates to their customers, the Insurance Information Institute (I.I.I.) reports.
I.I.I. said in a release that it based its findings on an analysis of 14 auto insurers operating in America who recently announced premium refunds, discounts, dividends, and credits totaling $8.1 billion. Read more here.
Kemper Announces Premium Relief to Policyholders and Support to Communities Amid COVID-19 Pandemic
Kemper Corporation announced today that, as part of its response to the coronavirus (COVID-19) pandemic, it will provide a 15% credit to personal auto policyholders towards their April and May premiums, as well as committing $1 million to organizations focused on critical issues including food insecurity and supporting front-line medical personnel. Read more here.
Insurance company USAA announces they will return $520 million to members amid COVID-19 pandemic
Insurance company USAA announces they will pay members $520 million amid the COVID-19 pandemic. In a press release , the company said the payment is “a result of data showing members are driving less due to stay-at-home and shelter-in-place guidance across the country.” Read more here.
Travelers Announces Stay-at-Home Auto Premium Credit Program
The Travelers Companies, Inc. today announced it is giving U.S. personal auto insurance customers a 15% credit on their April and May premiums through its new Stay-at-Home Auto Premium Credit Program. The company will automatically credit customers’ accounts, providing them with prompt and much needed relief during this time. Travelers will continue to assess the program as more information comes to light about the impact of the COVID-19 crisis on the driving environment and auto claims. Read more here.
Germania to give back nearly $6 million to personal auto policyholders
Germania Insurance announced its Reduced Driving Payback of nearly $6 million in credits for personal auto insurance policyholders. Germania President and CEO Paul Ehlert said. “The Reduced Driving Payback is our way of showing our support for your dedication to keeping you and your community safe during this challenging time.” A payment of $25 will be provided for each personal auto policy that was in effect as of March 31, 2020, and an additional $25 payment will be provided for each personal auto policy that is effective as of April 30, 2020. Payments are subject to regulatory approval. Read more here.
Progressive Provides $1 Billion to Customers
Over the last few weeks, the entire country has faced hardship due to COVID-19. Progressive Insurance remains committed to assisting customers and today announced it is providing approximately $1 billion to them as a result of fewer claims that come with less frequent driving. Read more here.
Auto insurers including Allstate, Geico to give back millions as coronavirus keeps drivers off roads
Auto insurance companies including Allstate, Geico, and Liberty Mutual said they will give policyholders millions of dollars back because Americans are driving less during the coronavirus pandemic. Read more here.
Texas Windstorm Insurer Lowers Initial Premium Amount Due; Extends Payment Deadline
Texas’ property insurer of last resort for wind and hail in counties along the state’s coastline is temporarily reducing the amount of premium due in order to issue a policy and providing 75 days to pay the remaining premium. Read more here.
GEICO, Farmers, Liberty Mutual Join Insurers Giving Breaks to Drivers, Businesses
More auto insureds and small businesses are getting a break on their insurance premiums to help them through the coronavirus crisis. Auto insurer GEICO said it will give back approximately $2.5 billion in the form of a 15 percent credit to its auto and motorcycle customers as their policy comes up for renewal between April 8 and Oct 7. The credit will also apply to any new policies purchased during this period. Read more here.
Allstate to return $600 million in auto premiums as pandemic cuts driving
The insurer Allstate said Monday it will return more than $600 million in auto insurance premiums to customers as many Americans stay home and drive less during shelter-in-place orders to curb the coronavirus outbreak. Read more here.
Coronavirus Update: We’re Here to Support You
At American Family Insurance, we are committed — and prepared — to serve our customers while also keeping our people and communities safe. We are closely monitoring the COVID-19 virus and the impact this pandemic is having across our country and world. While the health and well-being of our people and our customers is our top priority, we’re also dedicated to doing what we can to provide you the service you not only need but expect from American Family. We know you’re still depending on us to help with your insurance needs — and we are here for you. Read more here.
Allstate to Forgive 15% of Monthly Auto Premiums, Provide Free ID Theft Coverage
Insurance carriers are continuing to step forward with offers of help for customers and communities affected by the coronavirus crisis. Allstate announced that its Allstate, Esurance and Encompass personal auto insurance customers will receive a Shelter-in-Place Payback, a premium credit that recognizes that people are driving less during this emergency. Read more here.
Travelers to Provide $100 Million Cash Flow Boost to Agents Amid Coronavirus Crisis
The Travelers Companies announced that it will accelerate commission payments to eligible agents and brokers to help them ease liquidity concerns due to the COVID-19 crisis. In total, Travelers said it is accelerating more than $100 million, which it called “a significant boost of cash flow to its distribution partners when they need it most.” Read more here.
Amid Crisis, Allstate Helping Customers with Extended Coverage, Payment Relief
As the coronavirus pandemic impacts people and businesses across the country, both unemployment and the demand for delivery drivers are on the rise. Many businesses, especially restaurants, are relying on income from delivery services as most people stay home. Allstate is taking action on both fronts to protect customers and employees from life’s uncertainties during these unprecedented times. Read more here.
Allstate to Allow Policyholders to Skip Premium Payments
Allstate will allow policyholders to skip up to two premium payments due to the disruption caused by the coronavirus. Read more here.
THE INDUSTRY HELPS COMMUNITIES
Insurance Industry Charitable Foundation
Looking to support our communities? The Insurance Industry Charitable Foundation (IICF) helps communities and enriches lives by uniting the collective strength of the insurance industry in providing grants, volunteer service and leadership. Read more here. #insurancegivesback
U.S. CHAMBER AND TRAVELERS PARTNERS ON “SAVE SMALL BUSINESS FUND”
In an effort to support small businesses Travelers is a launch partner of the U.S. Chamber Foundation’s Save Small Business Fund. This Fund will provide assistance to small business owners impacted by the coronavirus through $5,000 grants to eligible small employers in the U.S. and its territories. Grant applications opened online on Monday, April 20, 2020 at www.savesmallbusiness.com.
Swiss Re donates CHF 5 million to support COVID-19 relief efforts
Swiss Re Group pledged to donate CHF 5 million to support the needs of people and communities affected by the COVID-19 pandemic around the world. Through its non-profit grant foundation, the Swiss Re Foundation, the funds will be distributed to organisations tackling the crisis, particularly in developing countries. Read more here.
How insurance companies are giving back during COVID-19
Since its emergence, the coronavirus has caused fear and worry in millions as it spread at a rapid pace. At the same time, it has revealed the courage, camaraderie, and care of people around the world. Read more here.
Claims Industry Set for Telecommuting
Insurance carriers and claim professionals deal with various catastrophes each year, so it was only fitting that when COVID-19 struck they were some of the first prepared to revert to “emergency work from home mode. Read more here.
Chubb Commits $10 Million to Pandemic Relief Efforts Globally; Company Pledges No COVID-19 Layoffs
Chubb today announced that it is committing $10 million to pandemic relief efforts globally. The support will go to people and programs providing emergency frontline services and for assistance to the most financially vulnerable members of the community who have been impacted the hardest by the pandemic. Read the press release here.
Travelers’ “Distribution Support Plan” to Provide Financial Assistance to Agents and Brokers
The Travelers Companies, Inc. today announced that it will accelerate commission payments to eligible agents and brokers to help them address the liquidity impacts of the COVID-19 crisis. Read the press release here.
Triple-I: Insurers Offer Solutions For COVID-19 Recovery
U.S. insurers are meeting the challenges faced by their customers, communities, and employees amid the COVID-19 crisis, according to a fact sheet released April 3 by the Insurance Information Institute (Triple-I). Read more here. Download their fact sheet here.
American Family Insurance, foundations pledge support to COVID-19 relief
American Family Insurance and its group companies, along with the American Family Insurance Dreams Foundation, announced today more than $4 million in support for COVID-19 pandemic relief and other non-profit efforts. Additional support from the Steve Stricker American Family Insurance Foundation is expected to push the total support to more than $6.8 million. Read more here.
USAA Campus Opens to Employees for Takeout Meals, Groceries
On a normal day in San Antonio, the food services company Sodexo prepares 30,000 meals for people who work at large corporate campuses and military installations, and for local universities and hospitals. In the past few weeks, as some of those places have told people to work and study from home in order to comply with the local Stay Home, Work Safe order. Read more here.
Travelers Pledges $5 Million to Coronavirus Relief Efforts
The Travelers Companies, Inc. today announced a $5 million commitment to assist families and communities impacted by the COVID-19 pandemic in North America, the United Kingdom and the Republic of Ireland. This includes support for the most financially vulnerable in the communities where Travelers operates. Read more here.
WTFB gets $30,000 donation from State Farm
The West Texas Food Bank is feeling a little fuller today after State Farm agents donated $30,000to help curb hunger in the Permian Basin.
The funds are a combination of donations by Midland-Odessa area State Farm agents and a grant from State Farm. Read the article here.
Higginbotham Agency supporting businesses, front-line workers
ICT member Higgenbotham is purchasing meals from their local Ft. Worth eateries impacted by the coronavirus and having those meals delivered to front-line workers who are dealing directly with the pandemic. Read more here.
Texas Mutual donates $2M for organizations fighting coronavirus
Texas Mutual Insurance Co., is donating $2 million in grants to 40 nonprofit organizations that are on the front lines of the COVID-19 efforts. Read more here.
Triple-I: Insurers Are Engaged In the COVID-19 Crisis
U.S. insurers are covering employees and employers facing exposure to COVID-19 while easing the financial burdens of its customers and communities during an extraordinary time in the nation’s history, according to the Insurance Information Institute (Triple-I). Read the press release here. Download their fact sheet here.
National Association of Mutual Insurance Companies: Coronavirus and the Mutual Insurance Industry
National Association of Mutual Insurance Companies (NAMIC) shares how mutual insurance companies helping their policyholder members get through this crisis. Read the article here.
USAA donates $2.3 million to military-focused nonprofits, $4.4 million nationally
All Americans are feeling the effects of this pandemic, including those who protect our freedom and their families,” said USAA President and CEO Wayne Peacock. Read more about the USAA Foundation’s total donation of $4.4 million here.
USAA RESPONSE TO COVID-19
USAA RESPONSE TO COVID-19: SAN ANTONIO
USAA RESPONSE TO COVID-19: DFW
Helping the community get through a tough time
Tough times bring out the best in many people, and the ongoing COVID-19 pandemic is no exception. Citizens around the world are donating to crisis response organizations, sewing masks and gowns for medical workers, delivering groceries to homebound neighbors and boarding shelter animals. Read more here.