Consumer NZ has expressed delight at the actions of several insurers to give back money to their customers.
Jessica Wilson, head of research for the customer advocacy group, said that the companies have done “the right thing” by returning premiums to their customers, 1 News reported.
Many general insurance companies have seen a decline in claims during the COVID-19 lockdowns, which meant a significant financial windfall for them. This was especially the case for car insurers, due to travel restrictions greatly reducing the number of accidents on the roads.
Some of the insurers that have returned or are in the process of returning the premiums are Southern Cross ($50 million), AA Insurance ($19.5 million), Tower Insurance ($7.2 million), and MAS ($1.7 million).
“In other industries, we’re more likely to have seen in-kind support,” Wilson said. “One example during lockdown was some telcos reduced the cap on their broadband plans.”
Aside from insurance companies, Wilson also praised a number of ticketing agencies and accommodation providers for speedily refunding customers following the widespread cancellation of events caused by the pandemic.
