Vero unveils business recovery grant program for SMEs

Vero unveils business recovery grant program for SMEs | Insurance Business

Vero unveils business recovery grant program for SMEs

Vero Insurance has launched a grant program to help its small and medium enterprise (SME) customers recover from the financial impact of the COVID-19 pandemic.

In a statement, the 2020 Insurer of the Year winner said that the business recovery grants will help SME customers “regain traction” with funds to support advertising, equipment, business consulting, as well as promotional printing.

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Applications are open to eligible Vero Business insurance, Vero Corporate insurance, and GIO Workers Compensation customers who have suffered financial hardship due to COVID-19. There are 25 grants available, with a total combined value of $250,000 (including GST) – five grants of $20,000, 10 grants of $10,000, and 10 grants of $5,000.

Eligible SMEs, or brokers on their client’s behalf, can apply online by describing in 250 words or less how the grant will help the eligible business recover. Applications will close on July 31 and will be assessed by a judging panel on August 10 before the successful recipients of the grant are notified on August 12.

Anthony Pagano, head of commercial intermediaries at Vero, said that as government subsidies scale back and restrictions ease, many SMEs will be navigating new challenges as they look to recover.

“Vero understands for many SMEs rebuilding momentum quickly will be crucial for their recovery,” said Pagano. “These grants will empower SMEs to choose the support that’s right for them. Vero will continue to back brokers, and their SME customers, as they get back to business.”