Big insurance company to give €5 million back to customers in refunds
As part of its response to the unprecedented coronavirus pandemic, Liberty Insurance has committed to giving premium rebates to the total value of €5 million to its Irish motor insurance customers on their existing premiums.
As part of this gesture, Liberty will give back to each customer 15% of their premium for two months, subject to a minimum amount of €10.
Liberty motor insurance customers with an active policy (except fleet) will be eligible for this premium rebate and will be able to request it from June 8, 2020, through the website www.libertyinsurance.ie.
Customers will have the option of directly claiming the premium rebate through a ‘cash equivalent voucher’, or alternatively, they can request that Liberty donate it to a charity working on the front-line in the fight against the Coronavirus.
The decision is part of Liberty Insurance’s wider response to Covid-19. Other measures introduced by the insurer include greater flexibility on payment terms for motor and home insurance premiums, and financial contributions to Irish charities Alone and Pieta House to support those most at risk during this difficult time. At a European-level, Liberty Insurance has made a €250,000 donation to Médecins Sans Frontières.
According to Tom McIlduff, CEO of Liberty Insurance: “Every time we make a decision at Liberty, our guiding principle is to do the right thing, to be responsible and to put our customers and employees first.
“We recognise that these are exceptional circumstances and now is a challenging time for many of our customers. We also recognise that risks on Irish roads are reduced in light of current restrictions.
“To this end, Liberty Insurance has committed to waiving a percentage of our customers’ motor premiums. We are also giving our customers the option of redirecting this saving to one of a number of charities Liberty is working closely with in the fight against Covid-19. In the meantime, we will continue to explore other ways of supporting our customers and colleagues through this challenging time.”