Still here to help – IAG extends COVID-19 customer support measures

The measures available to NRMA Insurance, CGU, SGIO, SGIC, and WFI home, motor and small business insurance customers experiencing financial hardship due to COVID-19, were due to end on 30 September but have been extended until 31 December 2020.

To date IAG has made changes to more than 80,000 policies (across all brands) to help customers through the pandemic.

The measures are designed to suit the unique situation of individual customers and include:

• Access to premium reductions
• Premium deferrals of up to three months for home and motor insurance customers, and for up to six months for small business insurance customers*
• The option to change premium payments from annual to pay by the month instalments for no additional cost
• Reduced or waived excess amounts in the event of a claim
• Waived cancellation and administration fees for customers who cancel their policies, including refunds on the unused proportions of premiums
• Travel insurance refunds where customers are unable to travel due to COVID-19 restrictions, and have not yet travelled or made a claim
• Small businesses which need to close premises due to the impact of COVID-19 can maintain full insurance cover on the premises with no changes to their premium

IAG CEO Australia Mark Milliner said: “It has been an incredibly challenging year for all Australians, and we know that for many people the impacts of COVID-19 will last for some time to come.

“We don’t know when this pandemic will end, but we want to ensure we can continue to help our customers who are experiencing financial hardship for the foreseeable future.

“Our team can provide a number of solutions to our customers based on their circumstances and we encourage our customers to contact us or their broker if they need help to discuss the options that are available to them,” Mr Milliner said.

In addition to the COVID-19 customer support measures, all IAG customers can contact their respective insurance brand or broker to discuss what other options may be available to them if they are currently experiencing financial hardship.

All current IAG insurance customers can also access a free and confidential phone counselling service provided by Assure, an independent psychological services organisation engaged by IAG.

IAG will continue to monitor the evolving situation and will assess the measures again towards the end of the year to ensure it continues to provide the appropriate support to customers through the pandemic.

Customers can contact IAG brands or their broker for more information or to access these customer support measures:

• NRMA Insurance: 132 132 or www.nrma.com.au
• CGU Insurance: 13 24 81 or www.cgu.com.au
• SGIO: 133 233 or www.sgio.com.au
• SGIC: 133 233 or www.sgic.com.au
• WFI: 1300 934 934 or www.wfi.com.au

* Small business customers are defined as businesses with an annual turnover of less than $50 million and / or a sum-insured asset value definition of up to $10 million.