Santam is refunding 20% of vehicle premiums paid in April 2020 for all its Personal Lines and Commercial Lines clients. This equates to R155 million. A 20% refund will be paid in May to clients whose policies remain in force at that time.
This announcement follows the Group’s initial relief package of R200 million, which included full premium relief for many of Santam’s worst-impacted clients.
Santam’s R200 million in relief
The Santam Group initially made R200 million available as COVID-19 relief to help clients, intermediaries and suppliers, and contribute to the Government’s Solidarity Fund. The Santam Group effort aimed at flattening the Coronavirus curve through additional Corporate Social Investment (CSI) initiatives and assisting our employees to deal with the impact of the pandemic.
Relief focused on the following areas:
- Assisting clients with premium relief initiatives
- Assistance to suppliers – SMMEs
- Contributing to the Solidarity Fund and Corporate Social Investment Initiatives (CSI)
- Supporting employees