Australia: Three major insurers defer premium payments for six months
Source: Asia Insurance Review | May 2020
Three of Australia’s largest insurers - Suncorp, QBE and Allianz – have given small and medium enterprises (SMEs) the option to defer their premium payments for up to six months during the COVID-19 crisis.
This will offer these SMEs the space to focus on maintaining their businesses, backed up by their existing insurance policies.
The three insurers will also offer continuity of existing insurance cover for SMEs whose business premises are unoccupied during the lockdowns, with no changes to their premium costs. A