CommercialFleet

Coronavirus: Fleets receive £10m windfall from QBE

Insurance policy

Fleet customers have received a £10.6 million rebate from QBE in motor premiums for vehicles taken out of service during the Covid-19 pandemic.

The motor team at the fleet insurer prioritised requests from clients and assessed claims on a case-by-case basis, paying back premiums where vehicles were taken off the road and SORN.

Customer’s cover was reduced to accidental damage and/or fire and theft until they begin trading again and the money returned to customers, in many cases in a matter of days, it says.

Jon Dye, director of underwriting for Motor at QBE Europe, said: “In the current economic environment, many of our customers needed the rebate now instead of waiting for the next quarter, which can often be the case. We were able to act swiftly to make sure those rebates went back into the pockets of our customers as soon as possible.”

Approximately 60% of rebates went to the bus and coach industry, which was hard hit by lockdown and social distancing measures.

Dye explained: “As a major insurer in the UK of bus and coaches, we knew many of these customers and others had been adversely affected by lockdown. For these customers, flexibility in cover and the speed of getting premiums returned would be crucial.”

QBE is also offering free and discounted risk management services on vehicle safety and online driving courses to help customers safely return to the road.

“As we emerge from lockdown and some of these fleets that have been laid up begin to return to a more normal working environment, we want to help our customers understand what risks this could bring,” continued Dye.

“For businesses who manage fleets of vehicles, it’s important for owners and managers to ensure that all vehicles are safe and legal, and that drivers are prepared for the return to the road.”

QBE has also extended cover at no additional cost to those who have decided to use vehicles to help key workers and sectors during the Covid-19 crisis.

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