(at 08/06/20)
Message from AXA – COVID 19 Customer Refunds.
Dear Broker,
The ongoing Covid 19 crisis has presented a lot of challenges for everyone both on a professional and personal level.
As you are aware, AXA has committed to making a once-off payment to our motor customers in the Republic of Ireland to support our mutual customers through this difficult time. Restricted travel arrangements during Covid 19 crisis has resulted in a significant reduction in vehicle journeys and based on our review has improved our claims experience during this period.
AXA will be passing on the benefit of this experience in the form of a €30 payment to all our Private Motor, Motorcycle, Light Commercial Vehicle and Taxi customers.
We will not be adding work to your business and are organising for this once off payment to be made directly to your customer by cheque during June. In addition, AXA will not be making any commission clawback relating to this payment. Further FAQs relating to the motor payment are listed on our dedicated COVID-19 page for brokers, simply Ctrl and Click on the link in blue.
AXA has implemented a significant number of initiatives to date to support our mutual customers with this payment being the latest. I will continue to update you with future developments in AXA in relation to COVID-19 and any further support measures we put in place.
In the meantime, we hope you stay safe in these most challenging of times and want to sincerely thank you for your continued support.
On 27/04/20 AXA advised having created a central information repository – see https://www.axa.ie/broker/covid19/
(at 05/04/20)
“For Commercial Customers
Our Employers and Public Liability Covers will extend to provide indemnity under the terms of the Policy for clerical employees working at home
We will provide cover under the material damage policy sections for damage to Employers office equipment used in employees dwellings to facilitate home working (without any inner sum insured limits)
We will not insist on return of Certificates and Discs where we are asked to suspend covers
In addition to personal car and Taxi customers, we will provide Van customers with a free extension of cover for volunteers supporting the national emergency effort and for delivery of food and essential items to the elderly or vulnerable in our communities.
Due to Government restrictions CVRT tests are not being carried out at this time. For the duration of closure of the test centres we can confirm that insurance cover will continue to be provided and maintained during this time. If however a vehicle failed a NCT test prior to the current closure due to a major fault, this needs to be referred to us for consideration.
Many restaurants and cafes are providing a takeaway service. We are extending our covers for restaurants and cafes to allow for this at no additional premium. This is on the basis that all reasonable precautions are taken and the HSE guidelines regarding COVID-19 are complied with.”
(at 14/04/20)
“Un-Occupancy of Premises
With a large proportion of buildings and operations currently closed due to the impact of Covid-19, we wish to clarify how our policies will respond to the temporary un-occupancy of premises.
Our standard business policy wordings include conditions or exclusions relating to empty, unoccupied or partly unoccupied premises which reduce covers and/or impose conditions on the policyholder.
However, for any of our customers where these conditions should now apply because of current Government restrictions in place to fight the COVID-19 pandemic, we can advise full cover will remain in place. We would however expect the following risk management measures to be in place as a minimum;
1. In respect of empty building(s) or empty portions of building(s), you must ensure that the building(s) are inspected internally and externally at least once a week by you or on your behalf
2. All refuse and waste materials are removed from the interior of the building(s) and removed from the premises
3. You will secure the premises and put all protective, locking devices and any alarm protection in effective operation
4. Gas, water and electricity services (except electricity or water supply required to maintain any fire or intruder alarm protections) and any fuel supplies are permanently shut off at the switch or stopcock where they enter the building(s) (or in the case of individual flats or portions of a building, where they enter the flat or empty part of the building
Where adherence to the above risk management measures cannot be complied with because of restrictions on movement imposed by the Government, AXA will not require compliance with same. However, we will expect appropriate steps to be taken at first available opportunity.
This agreement will remain in place until current government restrictions are lifted & a further communication will be issued to all brokers when it is changing & policies will be reverting to standard terms and conditions.
If during the Covid-19 outbreak, your premises is repurposed for different activities please contact AXA or your broker to discuss – AXA will try to support this if possible
Risk Management
We also wish to provide our business customers with risk management advice for the Covid-19 closure period. It is understood that Public Authority Covid-19 restrictions will curtail the implementation of some actions at present. However, the following actions are best practice to minimise the likelihood of damage to temporarily unoccupied premises:
Ensure that all internal fire doors are closed
Check that your fire alarm and all fire detection systems are fully operational
Remove from the premises all pallets and external waste and empty all skips
Drain or remove all flammable, combustible or hazardous liquids and materials and dispose of or store safely for re-use as appropriate
Ensure that any sprinkler systems are fully operational
Ensure intruder alarm is fully operational and set
Ensure perimeter fences are in good repair, windows are locked and boarded if necessary, shutters are in place where required, gates and doors are locked, and letter boxes secured shut
Remove any valuable stock from shop front displays unless secured by internal or external roller shutters
Have keyholders in place to respond to an alarm activation
Ensure all equipment is turned off and stored such that it will not be damaged or degraded during the closure period”
AXA Updates – Premium Instalments
“To respond to the financial situation many of your Customers may currently encounter as a result of the COVID-19 crisis, we have deployed our teams in AXA Broker to facilitate customers who may have difficulty making payments under AXA premium instalment arrangements. Our teams will deal with customers on a case by case basis and accepting partial payments where possible.”
(The following applies to bus & coach operators placed with AXA via Willis Towers Watson Insurances (Ireland) Ltd.)
(at 15/03/20)
“Suspension Credit
The current policy doesn’t cater for suspension credits as we have always rated Bus & Coach on the basis we know work can be seasonal however we are in unusual circumstances and with that in mind we will temporarily agree to take instructions to suspend cover as follows :
Email confirming Reg. Number/s of all vehicles where cover is to be suspended must be sent to the Asgard team who will issue an updated schedule confirming these vehicles are now excluded under the declaration.
Suspension must be for a minimum period of 28 days.
Fire & Theft cover will remain in place during the suspension ( subject to Accumulation Endorsement )
At renewal a return of 75% of the pro-rata period (25% retained for Fire & Theft cover) of suspension will be calculated as part of any year end adjustment and any return due will be allowed off the Renewal premium for the next renewal period .
When the Insured wishes to unsuspend cover an email requesting cover must be sent to the Asgard Team who will confirm when cover has been reinstated.
Accumulation Endorsement
As Bus & Coach Operators suspend cover it is important you highlight to them any Accumulation Endorsement wording as all Bus & Coach vehicles off the road must be parked in accordance with the conditions outlined in the endorsement for indemnity to be provided in the event of a Fire claim. The majority of Bus & Coach risks now have an Accumulation Endorsement in place.
If for some reason the Insured can’t park as per the conditions outlined in the endorsement it is important you review this with them to put forward an updated proposal which we can then review but we will have to continue to manage our Fire exposure particularly on high value fleets. The current wording on each policy applies unless an updated wording is approved.
Rate Increases
The Bus & Coach scheme has not performed well in 2018 and 2019 is worse mainly due to large losses and we had started to apply 20% minimum rate increases on all policies. Due to current circumstances rather than apply a blanket rate increase across all policies we will review each risk on a case by case basis concentrating rate increases to the following areas:
Cases with poor claims experience
Those involved in PST (Public Service Transport)
High Value Fleets
Risks where vehicle rate is very low compared to standard rates
Finance Arrangement
As we are not involved In the finance contract arrangement I would suggest you / The Insured contacts the Finance company in the event the Insured can’t make their repayments and look to agree a revised payment plan. I would imagine they will have many clients in similar circumstances and will be monitoring this .”
