We hope everyone is doing their best during these unique and unprecedented times. Insurance carriers are doing everything they can to assist in easing the hardship. Billing grace periods, waiver of late fees/cancellations, and refunds vary by company and circumstance. If you have specific questions or require any assistance, our team is available and at the ready to help!
Please see below for the latest information from our carriers (updated 6-4-20):
Subject to regulatory review and approval where needed, AIG Private Client Group automobile policyholders across the U.S. can expect a 25% credit back from their auto premium accrued during the two-month period of March – May 2020.
For more information, visit https://www.aig.com/
Auto Owners Insurance
Auto Owners Insurance will be providing a 15% return of premium for the months of April and May, subject to regulatory approval.
Auto Owners is placing a moratorium on the cancellation of policies for nonpayment of premium in the following counties: Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington and Wright.
The moratorium is effective May 28, 2020 and will remain in effect until July 4, 2020 unless extended. This moratorium is not a waiver, it is only an extension of the grace period during which insureds can take actions necessary to keep their policies in force, and only applies to policyholders residing in the affected counties who have been directly affected by this Emergency Executive Order.
For more information, visit https://www.auto-owners.com/special-message1
As previously announced, due to reduced driving activity over the last few months, Chubb will be providing its U.S. personal auto insurance clients with a COVID-19 shelter-in-place auto credit on their annual renewal premiums. In most states, upon renewal, clients will receive an average credit of 6% against their annual premium, which reflects a 35% premium reduction for the months of April, May, and a portion of June.
Auto Premium Credit Effective Dates by State
See the state-by-state grid here >
Chubb has also made a $10 million pledge for pandemic relief and their commitment to their employees that there will be no layoffs during this time.
For more information, visit https://www.chubb.com/us-en
Cincinnati Insurance and Cincinnati Casualty auto clients will receive a 15% credit per policy on their April and May premiums – pending regulatory approval. No action is required to receive this discount.
Extending suspension of policy cancellations
If policyholders are facing financial hardship due to the pandemic, Cincinnati Insurance has suspended property casualty cancellations due to nonpayment between March 16 and June 28 – or later if required by an individual state. And, they have suspended any late fees for the same period. Cincinnati Insurance Personal Lines billing associates stand ready to help answer any account-specific questions, and you can reach them at 513-870-2002.
For more information visit https://www.cinfin.com/covid-19
MetLife Auto customers who are paid to date will receive a 15% credit for April and May based on their monthly premiums.*
Policies that are active and current on payment through April 30, 2020 will automatically qualify for the MetLife Auto Relief Credit for April, and policies that are active and current on payment through May 31, 2020 will
automatically qualify for the MetLife Auto Relief Credit for May.
No customer action is required to receive the credit. MetLife Auto & Home® will automatically apply the earned credit(s) to the next billing statement. Customers who have paid in full will receive a payment equivalent to the credit(s).
Through July 1, 2020, Met Life will not cancel nor non-renew any active policies due to non-payment and will waive late payment fees.
*Only those customer accounts in good standing are eligible for the MetLife Auto Relief credit. The MetLife Auto Relief credit will be applied to the next billing statement. Subject to any required regulatory approval.
For more information, visit https://www.metlife.com/
Progressive is providing credits of approximately $1 billion in premium to personal auto customers as a result of fewer claims that come with less frequent driving.
Subject to approval by state regulators, Progressive personal auto customers who have a policy in force as of April 30 will be credited 20% of their April premiums in May and personal auto customers with a policy in force as of May 31 will be credited 20% of their May premiums in June. Progressive estimates that the sum of these two credits will total approximately $1 billion. Additional credits my be offered in the upcoming months.
For more information, visit https://www.progressive.com/support/covid19/
PURE is committed to making a Reduced Miles Refund to all members with regular auto policies with us. Subject to regulatory approval in each respective state, we will provide a 15% credit on all regular auto premiums for the period of time from the introduction of state stay-at-home orders until they are lifted.
Additionally, Pure has suspended non-pay cancellations at this time due to the financial impact of COVID-19 that may be impacting their members.
For more information, visit https://www.pureinsurance.com
Secura will provide a 15% refund of April and May auto premium for eligible MILE-STONE policyholders, subject to regulatory approval.
There is no action that needs to be taken by policyholders. Dividend checks will be mailed to clients on 6/11/20.
For more information, visit https://www.secura.net/about/news-releases/covid-19/
Travelers Insurance has launched the Stay-at-Home Auto Premium Credit Program, which will automatically give U.S. personal auto insurance customers a 15% credit on their April and May premiums.
Customers who pay by monthly installments will receive the automatic credit on future bills. Customers who have already paid their billing account in full will receive a direct payment. Travelers is working with regulators to obtain all the necessary approvals.
Effective immediately, Travelers has extended their billing relief plan through June 15, 2020. Cancellation and nonrenewal of coverage due to nonpayment have been suspended, and no interest, late fees or penalties will be charged during this period. Travelers will continue to comply with all regulatory orders and monitor and adjust our policies as needed.
For more information, visit https://www.travelers.com
West Bend Insurance
West Bend is sending a one-time payment of $50 to Home and Highway policyholders who insure their vehicles. West Bend is currently consulting with insurance regulators to gain approval for the plan and finalizing how to deliver the payments as quickly as possible. More details will follow in the coming days.
For more information, visit https://www.thesilverlining.com
Western National is offering premium relief in the amount of 15% on Personal Auto policyholders’ premiums for April and May. The full details of that Personal Auto premium relief program, which remains subject to regulatory approval, will be confirmed and communicated to you in the coming days.
Through June 1, 2020, Western National will not be canceling Personal Lines policies due to non-payment of premium.
For more information, visit https://www.wnins.com/
Chubb Insurance – Small Business Support
Chubb has committed $1M in gift cards to support our small business food service and restaurant clients. They will be purchasing gift cards from their restaurant and food service clients and distributing them to Doctors, Nurses, Police, Fire and EMT workers.
In addition, Chubb will automatically reduce sales and payroll exposures used to calculate premiums by 25% for our customers who are renewing between April 1 and August 1. We will also reduce premiums by 15% for commercial auto policies.
For more information, visit https://news.na.chubb.com/2020-04-13-Chubb-Announces-Small-Business-Support-Program
Policyholders are understandably concerned about their ability to pay premiums as government mandated closures continue. Cincinnati hopes that most policyholders can adhere their current payment arrangements, but they want to help by:
- Suspending all property casualty cancellations due to nonpayment from March 16 to May 31.
- Extending all life, disability and long-term care insurance grace periods to 90 days for payments due on or before May 31.
- Extending to a later date if required by an individual state.
Download the OSHA Guidance on Preparing Workplaces for COVID-19
Western National Commercial Lines
- Through June 1, 2020, Western National will not be canceling Commercial Lines policies due to non-payment of premium.
- We will work with policyholders who need premium billing relief to ensure that we are flexible and that they can change billing timing.
- For General Liability policies:
- If your commercial operations are impacted by COVID-19, Cox Insurance can contact the Commercial Lines Underwriting Team to adjust exposures on current policies to better reflect annual payroll and receipt estimates.
- If a policyholder continues to pay employees while not working due to government “stay at home / shelter in place” orders, Western National will not use this “paid furloughed” payroll in General Liability premium calculations (if payroll is the rating basis for their General Liability policy). Policyholders will need to maintain separate payroll records so that this payroll can be recognized at the time of the premium audit.
- For Workers’ Compensation policies:
- If a policyholder’s operations are impacted by COVID-19, Cox Insurance can contact the Commercial Lines Underwriting Team to adjust payrolls on current policies to better reflect annual payroll estimates.
- If a policyholder continues to pay employees while not working due to government “stay at home / shelter in place” orders, we will not use this “paid furloughed” payroll in premium calculations. Policyholders will need to maintain separate payroll records so that this payroll can be properly recognized at premium audit time.
- If a policyholder’s employees are working from home during government “stay at home / shelter in place” orders, payroll can be reassigned to a more appropriate classification if the policyholder maintains separate payroll records for these employees.
- For Business Owners Policies (BOPs):
- Some of Western National’s BOP policies use payroll or receipts as a rating basis to calculate the estimated annual premium. In those cases, rating exposures can be adjusted to reflect revised estimates. Please reach out to Cox Insurance to request exposure revisions.
- Unlike several other carriers, Western National’s BOP can be audited at the end of a policy term to reflect actual rating exposures.
In recognition of the fact that many businesses may find the current situation an ideal time to engage employees in safety training, through June 30, 2020, Western National policyholders can now rent up to eight videos a month from our Free Safety Video Program .