Covid-19 – Latest Members Update

Tue Apr 14 2020

Public Health Restrictions Extended & Insurance Ireland Forbearance Measures Announced

Dear Member,

You may already be aware that an Taoiseach, Leo Varadkar announced on Friday 11th April that the public health measures will be extended for a further 3 weeks and stay in place until Tuesday, 05th May. An Gardaí Síochana’s power to enforce COVID-19 restrictions will also be extended until 05th May 2020.

Insurance Ireland issued a statement on Friday 10th April (attached on link below) which introduces a range of forbearance measures across business and personal customer bases to assist those impacted by the Covid-19 crisis.

As you are aware, Brokers Ireland have been engaging extensively with individual Insurers and have already advised members on most of these measures and Insurer actions in recent communication.

The summary of measures includes:

• Measures for business customers include; reduced premiums for business customers to reflect reduced level of  exposure as a result of Covid-19 restrictions for EL / PL and Commercial Motor; renewal flexibility; maintenance of existing cover where the premises is closed or unoccupied; support change of use during Covid19 crisis
• Measures for personal customers include flexibility for customers in financial distress; no cancellation fees or missed direct debit fees; extension of cover for home working; extension of cover for volunteer driving; priority for HSE staff
• Insurers agree that the Government advice to close a business in the context of Covid-19 is the same as a direction in this instance.

READ FULL INSURANCE IRELAND STATEMENT

Brokers Ireland will continue to work on your behalf and do our upmost to keep you fully informed as updates become available. We welcome any member queries that you may have and we ask that you directly email queries to the following contacts:

• Life/Financial Services – rachel@brokersireland.ie
• General – cathie@brokersireland.ie
• Compliance/Central Bank – compliance@brokersireland.ie

We wish you and your families a very Happy Easter.

Kind Regards

Diarmuid Kelly

CEO

Brokers Ireland


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