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Country's largest insurer relaxing payment requirements for businesses impacted by coronavirus

New Zealand’s largest insurer, IAG, is offering support to customers impacted by coronavirus.

New Zealand money. Source: istock.com

The support measures apply to insurance offered through IAG’s, AMI, State and NZI brands.

They are offering defered payments for small businesses that are experiencing financial hardship.

Small businesses that have had to close due to coronavirus will continue to receive full cover with no increase to their premium.

They are also offering reduced payment times to suppliers to no more than 15 business days.

All refunds for small businesses cancelling their insurance will be processed with no cancellation fees.