News

Dear Customers,

We hope that you and your family are well. Things continue to be uncertain in this unsettling time and we know you may have questions or concerns about your finances, business or insurance cover.

Following our previous announcement extending the period before which ‘Unoccupancy’ starts in the policy wordings, we are committed to treating our customers fairly and we recognise that businesses may be experiencing financial difficulties at this time, so we want to help further.

Ways we can help

With effect from 18^th May 2020, we are pleased to be able to offer you the below options, where required:

• Payment Holiday or Deferred Payments

  If your income or business has been affected by Covid-19 and you're worried about making your payments, starting from the 18^th May and until the 18^th August, you might be eligible for a payment holiday.

  Please contact us or your broker to discuss your needs.

  Your insurance will continue to be valid as long as you instruct us to insure your property or business.

   

• Fees or Charges

  For the next 3 months until 18th August 2020:

1. We will not charge you any admin fee, if applicable, if you cancel your insurance policy;
2. We will refund your premium pro rata if you cancel your policy subject to no claims nor you being aware of any incident(s) that could give rise to a claim during the current period of insurance;
3. We will amend your premium pro rata if you change your policy terms or covers.

    

• Changes to your Insurance Policy

  We will be flexible where required if you wish to make changes to your insurance cover due to Covid-19 reducing some of the risks or property that you would normally insure for.

   

  We will make the required mid-term changes to your policy accordingly either by reducing some of the covers that are no longer required or by deleting some sections of cover if needed.

We appreciate the efforts many of you have made to get through this difficult time, and encourage you to contact us if you have financial worries.

We at China Taiping are committed to being as supportive as we can to help you keep your business and property insured.