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The National Insurance Brokers Association (NIBA), President, Eric Harris has called on insurance brokers to bring forward ways in which the insurance industry can help clients and the community cope with the challenges we now face.
“COVID-19 is massively challenging for us all, but now is the time for insurance brokers to come forward with ideas and suggestions as to how the industry can best serve the community,” he said.
Harris has written to the Insurance Council to put forward a number of suggested initiatives, but wants to know what else can be done. “Clients are already reporting changing business conditions, in some cases dramatically so. We have to find ways to help our clients stay in business, if at all possible.”
“We are also speaking with the premium funders to see if there is any room for flexibility in premium funding arrangements, as they play a crucial role in a significant proportion of transactions,” he revealed.
Comments and suggestions should be sent to NIBA CEO Dallas Booth at: firstname.lastname@example.org
The Queensland Chief Health Officer has confirmed that insurance assessors and builders are considered ‘essential workers’ during the Greater Brisbane snap lockdown.
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A test case launched by the Insurance Council of Australia to examine the application of certain infectious diseases exclusions in business interruption policies will be heard by the NSW Court of Appeal.
The federal government has announced that it will continue to provide regulatory relief for businesses that have been impacted by the COVID-19 crisis