Chubb has announced that it will provide its personal auto insurance customers in the US with a credit on annual renewal premiums as a result of reduced driving caused by the COVID-19 outbreak.
Upon renewal, clients will receive a credit equaling a 35% premium reduction for the months of April and May, with additional discounts for subsequent months as necessary. The average credit is expected to be $110 per vehicle. The credit will be applied automatically at renewal, Chubb said.
“In these rapidly changing times, we have been thinking about our clients and the challenges they are facing,” said Fran O’Brien, division president for North America Personal Risk Services. “This credit reflects our commitment to providing a fair premium adjustment to our clients, while ensuring they continue to receive Chubb’s best-in-class auto coverage.”