Gore Mutual, Northbridge & Economical Insurance Provide Payment Relief Packages

Economical Insurance 
NEW — Enhanced annual kilometres discount
On May 1, 2020, VyneTM will be updated to allow customers who are driving less to have their annual kilometres amended and receive on average, up to 15% off their premium until June 30, 2020.

This discount is only available for existing customers and will be applied immediately following the policy change. 

Personal Lines policy premium relief rebate

All Northbridge in-force personal lines policyholders with third-party liability personal vehicle coverage as of May 31, 2020, will receive an automatic 15% premium rebate for the months of April, May and June. No application is required, and the rebate will be processed beginning June 1, 2020. Due to the high volume of transactions, we expect it will take a few weeks to process all rebates. This rebate applies only to private passenger vehicles.

Rebates will be processed in the following manner:
  • For customers on monthly or variable pay, there will be an adjustment to future payments over the remainder of the policy term. We have taken this approach as it’s our quickest way to support our customers.
  • Customers who have paid in full will receive a one-time rebate in June. They will receive this rebate in the same method that the premium was paid to Northbridge.

Introducing the Gore Mutual Customer Care Package providing much needed support for customers during this extraordinary time.
Over the past couple of weeks, we've listened to your feedback about how to continue evolving our approach to the COVID-19 pandemic. We've also been working through complex matters relating to coverage and we're now able to share more information with you about several important ways we're supporting brokers and customers.
Additionally, the Insurance Bureau of Canada (IBC) announced relief measures this week to help customers tackle the financial impact of COVID-19. In support of these measures, we're finalizing details of the Gore Mutual Customer Care Package, which will be announced on our website next Tuesday, April 14.
As a mutual company, our priority is always the well-being of our customers. Indeed, one of our core values is simply “Do It Right”. So next week, we'll announce a simple bundle of support for all our customers, no matter what product they have. We’re calling it the Gore Mutual Customer Care Package.
Personal Auto Customers: “Parked-Up Payment”
To provide a premium reduction to our personal auto insurance customers, they will receive a simple one-time payment equivalent to 20% of three months premium. The payment will be sent by cheque and will have no detrimental impact to future premiums or coverage. All in-force auto customers as of Thursday, April 9, 2020 will automatically receive the payment. There are no actions required by brokers or your customers.

If you have any further questions in regards to these programs please contact your Broker.
Posted: 2020-04-17 3:45:07 PM