19 Mar Customer Bulletin: Premium Payment Difficulties due to COVID-19
First and foremost, we hope you are remaining safe and in good health through these changing times. As the developments of this pandemic continue to unfold, so too do the changes in our daily lives, in our routines, and in the pressures that we face as we adjust to our new normal. As an independent insurance agent, we recognize that one of those pressures can be the ability to pay ongoing expenses, including the cost of insurance premiums.
To download a pdf of our Customer Bulletin on Premium Payment Difficulties, click here or on the image to the right:
We have been working alongside our insurance carrier partners who have clearly expressed their willingness to work with policyholders to provide solutions to this issue, working with policyholders to amend payment plans, applying automatic grace periods and other measures to avoid cancellation for non-payment of premium during this difficult time. We urge customers to reach out to us to discuss their specific situation.
We have been working alongside our insurance carrier partners who have clearly expressed their willingness to work with policyholders to provide solutions to this issue, working with policyholders to amend payment plans, applying automatic grace periods and other measures to avoid cancellation for non-payment of premium during this difficult time. We urge customers to reach out to us to discuss their specific situation.
For businesses, keep in mind that some coverages such as General Liability and Workers Compensation, are adjustable based on factors such as payroll volume and sales volume.
Businesses and organizations that expect significant changes in their financial outlook due to the COVID-19 crisis may want to work with their agent to adjust their policies to lower the amount of premium to be paid during this period of reduced business volume.
In addition, some businesses with significant auto fleets may wish to suspend coverage on their vehicles if they are not in use at this time. There are pros and cons to this approach and we are here to discuss these with you.
Please know, we remain fully operational and available to work with you to get through this unsettling time together. If you would like to discuss further, please contact your representative at Clark.
Our Support
At this time, we have made the decision to halt our advertising for the next 6 months and redirect those funds to supporting non-profits providing COVID-19 relief.