QBE has issued £10.6 million in premium rebates to motor fleet customers who have taken vehicles out of service during the Covid-19 pandemic.
Approximately 60% of rebates went to bus and coach customers, which were among the hardest hit by lockdown and social distancing measures.
QBE has reduced cover to accidental damage and/or fire and theft until affected motor fleet customers begin trading again, and returned premiums, in many cases in a matter of days.
Jon Dye, director of underwriting for motor at QBE Europe, said: “As a major insurer in the UK of bus and coaches, we knew many of these customers and others had been adversely affected by lockdown. For these customers, flexibility in cover and the speed of getting premiums returned would be crucial.”
”In the current economic environment, many of our customers needed the rebate now instead of waiting for the next quarter, which can often be the case. We were able to act swiftly to make sure those rebates went back into the pockets of our customers as soon as possible.”
In addition to premium rebates, QBE is offering free and discounted risk management services on vehicle safety and online driving courses to help motor fleet customers safely return to the road.
Dye said: “As we emerge from lockdown and some of these fleets that have been laid up begin to return to a more normal working environment, we want to help our customers understand what risks this could bring. For businesses who manage fleets of vehicles, it’s important for owners and managers to ensure that all vehicles are safe and legal, and that drivers are prepared for the return to the road.”
QBE has also extended cover at no additional cost to those who have decided to use vehicles to help key workers and sectors during the Covid-19 crisis.
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