One of Nigeria’s leading insurer, Leadway Assurance Company Limited has announced a giveback for its Personal Motor Comprehensive Insurance policyholders who have been impacted by lockdown over COVID -19.
The “give- back” is the equivalent of two weeks premium, to policyholders who were constrained to ground their vehicles in strict compliance of the lockdown order by the Federal Government, in alignment with the World Health Organization’s social distancing recommendations.
The lockdown was initiated by government to “flatten the curve” on the Coronavirus pandemic which has impacted heavily on social life, businesses and recreation across the world.
Commenting on the company’s gesture, Tunde HassanOdukale, managing director, said that “the lockdown has had far reaching effects across the country, challenging both individuals and businesses. People are watchingand will remember how businesses treated them during this crisis. Our decision to provide the “give back” to our loyal comprehensive motor insurance policyholders will go a long way to support customers experiencing unforeseen pressure on their finances at this time. This is another way we are thanking our clients for supporting the FG to flatten the curve by staying at home.”
The value of the airtime, equivalent of 50 percent of a month’s premium, will be credited to customers by the end of April, 2020 following confirmation of customer details. Customers with financial burdens can also call to discuss extended grace periods for missed payments, payment plans, and waiving late fees and penalties.
Further commenting, the Commercial Director for General Insurance,
Gboyega Lesi said, “As society works together to slow the spread of COVID-19, there are more people at home, driving less and having fewer accidents. Given this reduction in road risks due to little or no driving, it is only fair that some premium be refunded so that the customer does not lose at the end of the day.
It is the responsible thing to do in the face of a pandemic- inspired economic lockdown. We hope that this support will in some way help our motor insurance clients deal with the rough patches.”
Before this support, the Company had made a sizeable donation to the health sector, joining other like-minded insurers to provide a #5 billion Life cover for the frontline workers helping the Nation to combat this pandemic. The leading insurer also donated Personal Protection Equipment (PPE) materials, COVID-19 test kits and foodstuff to the tune of N135 million as part of its efforts to support optimal testing and treatment of COVID-19 cases in Nigeria.
