Selective Insurance Announces COVID-19-Related Premium Credit For Personal And Business Auto Policies
In a press release on Monday, Selective Insurance announced premium credit for personal and business auto policies. See their press release below:
BRANCHVILLE, N.J., April 13, 2020 /PRNewswire/ — Selective Insurance Company of America, the lead insurance company of Selective Insurance Group, Inc. (NASDAQ: SIGI), today announced that customers with personal and business auto insurance policies will receive a 15% premium credit for April and May related to the various COVID-19 shelter-in-place orders. The program, which is subject to expected regulatory approval, is part of the company’s ongoing efforts to support its customers, employees, independent distribution partners, and the community in these uncertain times.
“At Selective, we understand the disruption of the COVID-19 pandemic and the related governmental directives. We are giving our personal and business auto policyholders – who have helped to flatten the curve by sheltering-in-place – premium credit for driving less,” said John Marchioni, President and CEO.
For Our Customers
In addition to the premium credit, Selective is committed to working with each customer to provide COVID-19-related assistance. This includes individualized payment flexibility to help ensure they can maintain their insurance coverage, and the delay of policy cancellations, late payment notices, and late or reinstatement fees until May 31 or the timeframe determined by each customer’s home state insurance commissioner. To assist business owners who are experiencing COVID-19-related changes in their operations and risk exposures – such as transitioning from solely brick and mortar operations to a delivery service, using their property differently or an overall reduction in sales revenue – we are collaborating with them and their independent agents to make mid-term policy adjustments. We also are helping our customers mitigate related risks, including cyber attacks, by providing timely information for increased vigilance.
For Our Employees
In mid-March, Selective smoothly transitioned nearly all our office-based employees to home-based through interactive technology. These actions have helped us protect our employees while enabling us to seamlessly provide our products and services to our policyholders and agents.
To further employee safety in this age of social distancing, we are waiving co-pays for all diagnostic testing related to COVID-19 for all insured employees and family members. If anyone covered under our medical plans is diagnosed with COVID-19, they will receive a care package that includes over-the-counter medications to help relieve symptoms and personal and household cleaning supplies to help keep others in the home protected from potential exposure. In addition through June 4, we are waiving fees for all telemedicine visits regardless of diagnosis. To keep our employees fully informed, we established an online coronavirus resource center with information, videos, and links that help them stay safe, healthy, connected, and engaged. All Selective employees also have free access to on-demand fitness classes, access to over 500 videos and 30 channels, personalized recommendations, goal-based challenges, and progress tracking to help them stay well in their remote work environment.
For Our Communities
Selective’s support of local communities is core to our mission of rebuilding lives after loss and disaster. With our field-based model, Selective has roots where our customers, employees, and independent agents live and work. During the COVID-19 public health crisis, Selective has emphasized corporate and employee philanthropy:
- The Selective Insurance Group Foundation recently made a $100,000 donation to the New Jersey Pandemic Relief Fund, established recently to gather resources from across our corporate headquarter’s home state to identify critical needs and fight the economic and social impact of COVID-19 on local communities.
- Our Employee Matching Gift Program matches employee contributions, dollar-for-dollar up to $500, to charitable organizations across our geographic footprint to support COVID-19 relief efforts.
- To help assist in the treatment of COVID-19 patients, Selective has adjusted our Employee Volunteer Program to increase the number of paid Volunteer Days a medical-certified employee may take, up to 10 days a month and 20 days total.
- Selective is hosting a blood drive (with appropriate social distancing protocols) for Selective employees and their family members to help ensure an adequate blood supply for COVID-19 and other patients.
About Selective Insurance Group, Inc.
Selective Insurance Group, Inc. is a holding company for 10 property and casualty insurance companies rated “A” (Excellent) by A.M. Best. Through independent agents, the insurance companies offer standard and specialty insurance for commercial and personal risks and flood insurance through the National Flood Insurance Program’s Write Your Own Program. Selective’s unique position as both a leading insurance group and an employer of choice is recognized in a wide variety of awards and honors, including the Fortune 1000 and being named as one of “America’s Best Mid-Size Employers” in 2019 by Forbes Magazine. For more information about Selective, visit www.Selective.com.