Coronavirus

Coronavirus Refunds: Auto Insurers Give Back Premiums; UNH Refunds $27M+ To Students

Auto Insurers

The coronavirus pandemic is upsetting normal life the world over, and plenty of consumers want refunds on things they paid for but aren’t able to use. Here’s a roundup of some coronavirus-related refunds that universities and auto insurers are offering.

Auto Insurance

Auto insurers are returning over $100 million in premiums to policyholders in Alabama per an announcement. Governor Kay Ivey said in the announcement that “the economic impact is greater than $100 million in payments returned to the pockets of consumers at a time when it is badly needed.” The announcement noted that fewer miles are being traveled due to the stay-at-home order of the governor.

In separate news, auto insurers were working with the Division of Financial Regulation in Oregon to give premium refunds as well as credits to those in the state, according to a press release. Oregon Insurance Commissioner Andrew Stolfi said per the release, “Our division is proud to help insurance companies provide this much needed relief to Oregonians.” The refunds are being made because of the decreased risk of collisions due to the Stay Home, Save Lives executive order of Governor Kate Brown.

University Room and Board

The University of New Hampshire (UNH) has given students over $27 million in reimbursements while they are not on campus amid the COVID-19 crisis, WMUR reported. James W. Dean, the university’s president, said in a statement, “This was the right thing to do for our students and their families, but it had a large financial impact on the institution.”

The funds were for prorated residential, student, and meal charges. UNH is also putting into place new procedures for staff such as creating a furlough policy and an “enhanced layoff policy that extends the duration of health plan coverage at the same employee cost share by three months.”

We are facing a large budget deficit but at this time don’t have any plans to lay off or furlough employees, Dean also noted.

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