Toronto, Ontario - April 17, 2020 – The global impact of COVID-19 has been unprecedented and has drastically affected the daily lives of Canadians. Today, RSA Canada is announcing measures to help alleviate some of the burden that Canadians are facing as a result of the pandemic. This includes financial relief estimated at $75 million in savings for personal and commercial insurance customers who are facing financial hardship as a result of the pandemic, as well as support for the most vulnerable Canadians through a $100,000 donation to Food Banks Canada.
“In the last month, Canadians have changed where they work, how much they drive and what they need to protect themselves, their families and their businesses,” says Martin Thompson, President and CEO, RSA Canada. “As a national insurer, our promise is to be there for our customers when they need us most, so we are implementing new measures to provide meaningful assistance during these uncertain times.”
Providing relief for those facing financial hardship
RSA Canada is providing several relief measures to assist Canadians who are impacted financially by COVID-19. Every customer’s situation and insurance needs are unique, so options are designed to provide enhanced flexibility and assistance. RSA Canada will also be implementing additional auto and property insurance premium relief measures moving forward, to support customers during the crisis.
The following measures will be in place until June 30, 2020 and will continue to be reviewed as the situation develops:
- Reduced premiums for customers who are driving or commuting less or who are no longer using their vehicles if circumstances have changed due to the pandemic. Customers should contact their broker or insurance representative to make changes to their auto coverage.
- Flexible payment options, payment deferrals and support for customers who are facing financial hardship as a result of the pandemic. Customers who have been impacted by the pandemic should contact their broker or insurance representative to discuss the available options.
- Coverage for customers who are temporarily using their vehicle for delivery services – such as an employee of a pharmacy, restaurant, grocery store, or as part of an app-based food delivery service. This is available for all personal auto insurance policies and will not change the customer’s premium. Customers should contact their broker or insurance representative to confirm this coverage.
- NSF fees for personal and small commercial policies charged by RSA Canada occurring after April 1, 2020 will be waived. Some financial institutions may charge separate NSF fees and customers are encouraged to contact their local bank for more information.
- As all Canadians are encouraged to ‘Stay at Home’, customers who are required by their employer to work from home due to the current situation with COVID-19 can rest assured that the coverage they already have in place will not be impacted.
To support its commercial insurance customers, RSA Canada is providing relief measures as well as guidance to help them mitigate any risks they face as a result of the pandemic. Commercial customers are encouraged to contact their broker to discuss options further.
- For commercial insurance customers, RSA Canada is adjusting its rating approach to support business owners and the challenges many of them are facing.
- For small and mid-sized businesses that have been directly impacted and are experiencing temporary closures and changes in operations, RSA Canada is working with its broker partners to be as flexible and accommodating as possible including allowing mid-term coverage adjustments, payment deferrals and premium adjustments.
- For businesses that are making changes to their operations to support the current crisis, RSA Canada is providing flexible underwriting solutions.
- RSA Canada is also providing guidance to help businesses that have shut down to protect their idle property and fleets.
Supporting the most vulnerable Canadians through Food Banks Canada
RSA Canada is donating $100,000 to Food Banks Canada to purchase food products for those who are living with food insecurities, especially during this challenging time. The company continues to match employee donations to community causes that they care about most, including local food banks, as part of its corporate responsibility program.
Currently, Canada’s supply chain is working in overdrive to keep up with the unprecedented demand for food and other goods due to the current pandemic. This has made it more difficult for food banks across the country to receive in-kind donations in the same quantity and frequency that they had before the pandemic.
Food Banks Canada is facing several challenges:
- Drastic declines in the number of volunteers;
- Significant surges in the number of clients accessing food through food banks;
- Dwindling donations when compared to regular operations.
“Giving food to those in need can be difficult in the best of times and COVID-19 has made that task even harder,” says Chris Hatch, CEO, Food Banks Canada. “Food banks are experiencing high demand across the country as a growing number of Canadians suffer income loss. That’s why we’re grateful for the support of organizations, such as RSA Canada, which are helping provide nourishment to those who are most deeply affected by the pandemic.”
Canadians who are interested and in a position to support Food Banks Canada can make a donation at FoodBanksCanada.ca or contact their local food bank to determine which resources are needed most.
As risk experts, RSA Canada’s employees have a role to play in helping customers manage the uncertainties and complexities of today's world. RSA Canada continues to work with industry associations to identify and address common challenges and emerging issues that may impact customers, and to help them manage and get ahead of potential risks. All parts of the company are working hard to maintain strong service levels to ensure customers receive assistance when they need it most.
Customers are encouraged to leverage RSA Canada’s online claims submission tool which is available at RSAClaimsPoint.ca (not available in Quebec).
About RSA Canada
The RSA Canada group of companies includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Unifund Assurance Company, Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield Insurance Company and RSA Travel Insurance Inc. (collectively, “RSA Canada”) and is part of a group of companies headed by RSA Insurance Group plc. RSA Canada employs more than 2,800 people across Canada and is one of the oldest insurance companies in the country with roots dating back to 1833. For more information, visit RSAgroup.ca.
About Food Banks Canada
Food Banks Canada provides national leadership to relieve hunger today and prevent hunger tomorrow in collaboration with the food bank network from coast-to-coast-to-coast. For 40 years, food banks have been dedicated to helping Canadians living with food insecurity. Over 3,000 food banks and community agencies come together to serve our most vulnerable neighbours who – last year – made 1.1 million visits to these organizations in one month alone, according to our HungerCount report. Over the past 10 years, as a system we've sourced and shared over 1.4 billion pounds of food and Food Banks Canada shared nearly $70 million in funding to help maximize collective impact and strengthen local capacity – while advocating for reducing the need for food banks. Our vision is clear: create a Canada where no one goes hungry. Visit www.foodbankscanada.ca to learn more.