Coronavirus

Coronavirus Refunds: CSAA Insurance To Offer $37M In Further Reimbursements To Policyholders

Coronavirus Refunds: CSAA Insurance To Offer $37M In Reimbursements To Policyholders

As the pandemic continues to disrupt everyday life the world over, many consumers want refunds on things they paid for but aren’t able to use. Insurance companies are reimbursing a portion of their policyholder premiums.

CSAA Insurance Group is offering roughly $37 million in further reimbursements for those who have vehicle policies, following the announcement of roughly $100 million in refunds in April, according to a press release. The company said the announcement represents a 10 percent premium reimbursement for 46 more days up to the end of June.

Tom Troy, CSAA Insurance Group president and CEO, said in the release, “We’re extending our refund program to mirror the relative decrease in driving we’ve seen with continued shelter-in-place orders. As restrictions ease and driving increases, customers can be assured that their auto premiums will fairly reflect their driving behavior and claims frequency.”

The company said members who have an active policy as of June 30 will get an additional vehicle premium reimbursement, noting that “refunds are available everywhere, except where prohibited by law.”

The company also said it will start providing the reimbursements in the middle of next month and foresees the process to be finished in 30 days.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

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