Premium cut announced
No reminders, no debt enforcement and small premiums: The insurance company is reacting to the difficult situation that many have found themselves in due to the pandemic.
- Good news for Zurich Insurance Group customers
- Gastro businesses with epidemic insurance receive full pandemic coverage, according to the CEO.
- Premium reductions, for example for car insurance, are also possible.
Insurance company Zurich Insurance Group has announced goodwill damages due to the coronavirus crisis. CEO Mario Greco told Monday’s “Blick” that the topic only affected Switzerland anyway.
“Virus-related risks are not insured, particularly in the United States. In Switzerland, over 90 percent of the restaurants that are insured with Zurich have full pandemic coverage with epidemic insurance. » Greco explained. The other companies received goodwill payments from the Zurich Solidarity Fund, the insurance manager said.
Even with premium payments that were not received on time, the group wanted to show its sunny side. “If necessary, we give our customers more time,” Greco also announced. «There are discounts and other perks. In Switzerland, we usually grant a deferral of payments, even for tenants of properties that belong to Zurich. In addition, we do not send any reminders and do without debt enforcement, »it said.
A lot of good news
In addition to all of this, the Zurich Group CEO holds out the prospect of a reduction in premiums. “For example in car insurance,” he said. People stayed at home and drive less cars. “So there are fewer accidents – and therefore less damage,” said Greco.
On top of that, there were fewer fatalities, but also fewer alcohol and drug excesses, it said. “The climate also benefits from the fact that pollution is currently decreasing. There are fewer cars and fewer planes, and many factories are closed. In addition, people generally live healthier lives, which will have positive long-term consequences, ”Greco told Blick.
Overall, the Zurich CEO is expecting claims from the coronavirus crisis of around $ 750 million by the end of the year. This comparatively small amount shows above all how carefully his insurance group manages its risks, the CEO delighted. “For example, we would never insure major events like the Olympic Games because it would be too risky,” he emphasized.
The biggest claims concern business interruptions because the loss of revenue is covered there. This costs the group a lot of money, especially in Europe, the manager said in this regard. A pandemic has always been at the top of the group’s greatest annual risks, the 60-year-old manager said.