Following the COVID-19 pandemic RSA has announced to help its clients

RSA Insurance, Covid-19, premium reduction

The following information was extracted from the RSA website. Please consult the original article for more information and for any further updates.

Following the COVID-19 pandemic RSA has announced to help its clients. It has mentioned “ The global impact of COVID-19 has been unprecedented and has drastically affected the daily lives of Canadians. Today, RSA Canada is announcing measures to help alleviate some of the burden that Canadians are facing as a result of the pandemic.”

As per RSA “The following measures will be in place until June 30, 2020 and will continue to be reviewed as the situation develops”:

  • Reduced premiums for customers who are driving or commuting less or who are no longer using their vehicles if circumstances have changed due to the pandemic. Customers should contact their broker or insurance representative to make changes to their auto coverage.   
  • Flexible payment options, payment deferrals and support for customers who are facing financial hardship as a result of the pandemic. Customers who have been impacted by the pandemic should contact their broker or insurance representative to discuss the available options.
  • Coverage for customers who are temporarily using their vehicle for delivery services – such as an employee of a pharmacy, restaurant, grocery store, or as part of an app-based food delivery service. This is available for all personal auto insurance policies and will not change the customer’s premium. Customers should contact their broker or insurance representative to confirm this coverage.
  • NSF fees for personal and small commercial policies charged by RSA Canada occurring after April 1, 2020 will be waived. Some financial institutions may charge separate NSF fees and customers are encouraged to contact their local bank for more information.
  • As all Canadians are encouraged to ‘Stay at Home’, customers who are required by their employer to work from home due to the current situation with COVID-19 can rest assured that the coverage they already have in place will not be impacted.

 

 An action plan has also been put in place for its commercial insurance:

  • For commercial insurance customers, RSA Canada is adjusting its rating approach to support business owners and the challenges many of them are facing.
  • For small and mid-sized businesses that have been directly impacted and are experiencing temporary closures and changes in operations, RSA Canada is working with its broker partners to be as flexible and accommodating as possible including allowing mid-term coverage adjustments, payment deferrals and premium adjustments.
  • For businesses that are making changes to their operations to support the current crisis, RSA Canada is providing flexible underwriting solutions.
  • RSA Canada is also providing guidance to help businesses that have shut down to protect their idle property and fleets.  

 

For more information concerning RSA measures, please refer to their website:

https://www.rsagroup.ca/news-release/rsa-canada-announces-relief-measures-canadians-response-covid-19-crisis

*Disclaimer: The following information was extracted from the RSA website. Please consult the original article for more information and for any further updates.

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