NEWS FLASH – Insurance Premium Relief Due To COVID-19
This week, we’ve talked with several major insurance companies regarding their response to the current COVID-19 crisis. Our hope is that they will announce measures to provide policy holders with financial relief regarding their insurance premiums. This will be of importance to all our clients. We have presented several relief options to multiple carriers, and we are awaiting their response.
Manulife specifically has assured us that they’ve been working on this issue for the last 10 days and that they are very close to announcing some form of relief measures. They were not specific on what those measures might be, but they did reinforce that it is a high priority for them to come out with something soon. We were hoping to hear something from them by the time we drafted this message, but, as of yet, we have not. As soon as we have more information, we will pass it on to you.
We are hoping that RBC Insurance, Industrial Alliance, BMO, and the other major insurance companies will follow suit and make an announcement soon regarding their plans for insurance policy premium relief.
I want to assure you that Cove is working on behalf of all policy holders to get policy premium relief measures of some kind implemented as soon as possible. We thank you for your patience as we work to get this needed information to you. Stay tuned and stay safe.
Bernie Geiss TEP CLU CFP CHS
Founder, Continuity Advisor
….Space to Breathe