QBE announces support for car insurance customers

QBE Insurance (QBE) today announced financial support for Australian private-use motor insurance¹ customers to help ease the pressure on household budgets brought on by COVID-19.

Eligible existing and new² Australian comprehensive car insurance customers will receive a one-off COVID-19 benefit in the form of a $50 gift card, while motorcycle, caravan and other private motor insurance³ customers will receive a $25 gift card.

QBE Australia Pacific CEO, Vivek Bhatia, said the COVID-19 benefit represented about 25% of the average private-use motor insurance policy from April to June.

“We know that for many of our customers, the health and economic crisis unleashed by COVID-19 is placing huge pressure on their household budgets. This one-off benefit will be a welcome boost to Aussie families at this difficult time.”

Mr Bhatia said the COVID-19 benefit was reflective of the fact that travel and other restrictions in response to COVID-19 had resulted in fewer vehicles on the road and fewer insurance claims.

QBE Group CEO, Pat Regan, said the COVID-19 benefit was the latest in a suite of measures being rolled out internationally to support QBE’s customers and communities at this challenging time.

“At times like these, it is vital that business steps up to assist. While the path through this pandemic remains uncertain, we will continue to be there to support our customers and their communities, true to our purpose to give people the confidence to achieve their ambitions.”

Earlier this month, QBE also announced a suite of measures to support small and medium business (SME) customers in Australia impacted by COVID-19.

QBE will shortly be in contact with eligible private-use motor customers and brokers and agents about how to access the benefit.

For further information:

¹ The COVID-19 benefit applies to private-use motor insurance policies only, including vehicles under 3.5 tonne GVM and excludes commercial and fleet policies.
² Applies to new comprehensive policies entered into before June 30, 2020.
³ Excluding statutory products, including CTP.