The Philippine Insurers and Reinsurers Association (PIRA) today announced additional measures by the non-life insurance sector to support non-life insurance clients during the Enhanced Community Quarantine (ECQ) brought by the Coronavirus Disease 2019 (COVID-19) pandemic.
PIRA Executive Director Michael Rellosa noted that the health and safety of customers remain as the association's top priority. “Our PIRA member companies are committed to ensuring that the non-life insurance sector responds swiftly to evolving protection needs and continue to service customers safely during this challenging period,” he said.
PIRA's additional measures to support customers include:
• Some individual and corporate customers are now facing financial challenges brought about by the impact of COVID-19 and have difficulty making premium payments. PIRA members will work with impacted customers to review the financial difficulties and impact in each case, and to consider suitable installment payment plans or other options to reduce insurance cost.
• Some insurers may offer customers flexibility in paying their insurance premiums using their credit cards, which includes installment payment plans.
• Non-life insurers are servicing customers electronically (online) or through call centers in order to minimize face-to-face interactions. Customers are encouraged to leverage these in accordance with the latest guidelines from the authorities on the implementation of safe distancing measures.
Customers should approach their respective insurers for details on these support measures. PIRA will continue to review these initiatives as the situation unfolds to ensure customers continue to be supported and serviced through this time.