The refund will be equivalent to 15% of three months premium effective April 1, 2020. and all personal insurance automobile policyholders will automatically receive this refund
Unica Insurance (Unica) has announced a one-time COVID-19 Premium Relief Refund for all Private Passenger Automobile policies as it continues to expand its package of COVID-19 relief options.
The refund will be equivalent to 15% of three months premium effective April 1, 2020. All Personal Insurance automobile policyholders will automatically receive this refund.
Details around timing and method of payment will be announced in the coming days.
“We are in unusual and unprecedented times,” said Dave Smiley, Chief Operating Officer for Unica Insurance.
“So it’s important that we take a step back as an organization to focus not just on our responsibility to our mutualist members, but how we can best support our Broker Partners, Policyholders, Employees and our community.
“In times like this, business-as-usual does not apply—we need to focus on good corporate citizenship and to demonstrate the values we have long held as a People First company.”
In addition to the immediate across-the-board rate relief for Private Passenger Automobile, listed below are other key highlights of Unica’s COVID-19 relief package:
Premium Payment Deferrals
Unica will allow deferrals on premium payments on a case-by-case basis.
Waiving of NSF Fees
Unica is waiving NSF fees for all customers until further notice.
In addition to the 15% premium refund, insureds have the option to endorse their policy to recognize the cessation of driving – i.e. removal of road coverage.
For Property and Fleet business we will continue to consider flexibility on a case-by-case basis.
Unica has directed 100% of its charitable funds provided by the La Capitale Foundation to COVID-19 relief efforts, supporting Mississauga’s Trillium Health Partners Foundation with the purchase of 3D printers to produce face shields and other desperately needed PPE items.
Source: Company Press Release