Desjardins’ property & casualty insurance subsidiaries will be issuing $100 million in premium refunds to auto insurance clients.
The insurer has put into consideration factors such as the increased transition to working from home, the extended lockdown, and the reduction in travel and car accident risks – all of which have led to fewer claims, allowing it to give back to its clients.
The refunds are for eligible personal and commercial insurance clients. Clients will receive a refund between 25% and 40% of the premium they pay for one month.
Desjardins also offered a refund in April, with the amount based on individual policyholders’ annual distance travelled over a three-month period.
That initial refund led to $50 million being returned to auto insurance customers.
It says that with the new reimbursement announcement, it would be refunding a total of about $150 million.
“Even though we’re beginning to reopen our provinces and cities, the pandemic will continue to affect our members and clients. We’re proud to say that we’re still here for them in these unprecedented times,” said Desjardins Group president and CEO Guy Cormier.
Cormier added that the additional $100 million refund is “just one of the many ways that Desjardins has helped its members and clients deal with COVID-19 since March 16.”
