Fidelity Life has extended support measures to its farming customers affected by the flooding on the West Coast and the top of the South Island.
The insurer said that its customers who are suffering financial hardship due to the impact of the floods on their farms can apply to have their premiums temporarily waived for three months, which may be extended for a further three months, while keeping their insurance protection intact.
“Farmers and growers in the West Coast and Nelson/Tasman and Marlborough districts are doing it tough following the recent floods,” said Peter Doherty, Fidelity Life chief customer officer. “They’ll be facing issues like shortages of livestock feed and crop washouts, placing financial stress on their businesses.”
Fidelity Life works closely with specialist rural insurer FMG, and two companies have supported farmers in several crises in the past. In 2015, Fidelity Life extended premium relief to its dairy farming customers who were hard hit by a fall in the farmgate milk price, as well as in 2018 to cattle-raising customers impacted by a Mycoplasma bovis outbreak. In 2021, the company assisted flood-hit customers in Canterbury.
Doherty encouraged affected farmers in the West Coast and South Island to contact Fidelity Life or their financial adviser for information about the offer. Other Fidelity Life customers facing financial hardship as a direct result of the floods were also encouraged to contact their adviser to discuss how Fidelity Life can help.
“It’s important for the financial security of their families and their businesses that farmers keep their insurance protection in place, even when times are tough,” Doherty said. “This offer is a small thing we can do to help our customers get through this event.”
