Thanks both, really appreciated :)
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With my involvement in another company our vehicle claims are down approx 80% and home claims down approx 50% over the shutdown period. I don't have any commercial info .
Premiums still coming in so presently in a good space but one weather event can change things.!
Half the profit from the Pacific islands anyway, so profit totally swings on the storm season up there
There's currently pressure from some quarters for insurance companies to reduce premiums where risks are reduced, eg cars locked in garages or seldom used. Some companies have indicated that they are amenable to the idea. Is TWR one of these?
In a similar situation, Southern Cross emailed yesterday and said that with the savings last month/support customers/blah blah, they are returning $50 million to customers (approx. 880,000 clients). So about $55 each.
They are supposedly "not for profit". (After my premiums having gone up 123% over 3 years, and never having claimed, I take a bit of a dim view of them....)
Good on Tower not 'profiting' from the virus re car insurances
https://www.stuff.co.nz/business/121...-profit-pledge
Good for long term customer loyalty