In addition, customers can choose how they would like to receive their rebate – as a refund, a credit that can be applied to a new or existing policy or, with the policyholder’s consent, The Argus Group can donate the credit to the Bermuda Community Foundation’s COVID-19 Emergency Fund. Argus has committed to match any such contributions from customers up to a total of
Ryan Eve, Vice President – Property & Casualty Operations, Argus Insurance Company Limited, said: “We’re pleased to be giving back to our motor insurance customers, who did their part by adhering to the Shelter–in–Place order.
“When calculating motor insurance premiums, we consider multiple factors. While the entire community was at home there were fewer cars on the road, therefore diminishing their exposure to risk, resulting in fewer claims. For a number of reasons, including remote working and scheduled shopping days, our customers didn’t need to commute every day, so they should receive a refund.
“Given the island–wide financial hardship triggered by the pandemic, we have given our customers the ability to direct their motor insurance premium rebate to a charity that is helping to support our community. This is one of the many ways Argus is helping to provide relief for those most impacted by the COVID–19 crisis.”
He added, “This refund is possible because of a reduction in claims. We urge the public to continue to follow the rules of the road by adhering to the speed limit and operating their vehicle in a safe and responsible manner.”
Customers must complete the online form found at www.argus.bm/premium–refund–request by July 31, in order to claim or re–direct their rebate.
Alison Hill, CEO, The Argus Group, said, “The effects of COVID–19 have been far–reaching and we are constantly monitoring how the pandemic is impacting all of our businesses globally, across all lines. While the approach will be unique to each policy type, we will continue to assess the impacts and, where relevant, we commit to passing these potential savings back to our clients. As always, we remain agile, sensitive and transparent, and aim to put our clients at the heart of everything that