Insurance Ireland members have said they will continue with their forbearance measures to help customers after the Government's decision to move to Level 5 Covid-19 restrictions.
In a statement on behalf of Allianz, Aviva, Axa, FBD, RSA Insurance Ireland and Zurich, Insurance Ireland said it appreciates that this is an incredibly difficult time for families and businesses.
Measures for personal customers include flexibility for customers in financial distress, no cancellation fees or missed direct debit fees, continuing extension of cover for home working and priority for HSE staff.
For business, the forbearance measures include working with policy holders who need to adjust their premiums for the time they are not trading, renewal flexibility, maintenance of existing cover where the premises is closed or unoccupied and supporting requests for a change of use during the Covid-19 crisis.
Insurance Ireland said that insurers continue to pay out €250m to customers in claims and benefits every week.
"Customers can be assured that their insurers will continue to deliver for them during the crisis, paying pensions and settling claims for life, travel, household, property, liability, motor and health insurance," Insurance Ireland said.
"This has involved a move towards remote working, significant IT work and making business processes more flexible to better serve customers," it added.
Moyagh Murdock, chief executive of Insurance Ireland, said its members recognise that some customers, personal and business, will experience extreme economic impacts as a result of the move to Level 5 restrictions.
She said that Insurance Ireland is committed to continuing to support its customers once again.
"Insurance Ireland has set up a special Covid-19 hub on our website to share practical information with customers. Our member companies also have information and advice on their own websites and have been communicating with customers and brokers to provide advice and support throughout this difficult period," Ms Murdock said.
