Standard Insurance Limited will be reducing its insurance premiums to its small business and agriculture customers by 30%. This applies to premiums for the next 3 months starting in August 2021 and is aimed at helping to reduce some of the impacts of recent lockdown restrictions as well as the recent unrest in Gauteng and KwaZulu-Natal.
Businesses across the board have had to make serious adjustments over the last year to adapt their operations to align with COVID-19 restrictions as well as operate in an environment of reduced consumer spending power. Standard Bank appreciates that businesses have had to adopt increasingly innovative business practices to stay afloat and keep their staff employed. Recent protests in the two provinces have in many cases exacerbated challenges to already struggling businesses.
Standard Banks’ Head of Business Clients, Simone Cooper says “All businesses have been impacted to a larger or lesser degree by COVID-19 restrictions and the recent Gauteng and KwaZulu-Natal unrest. While we thought we would target our relief at the two impacted provinces, it is clear that the disruption to supply chains and access to consumers impacts a wide geographical area and is not just isolated to these two provinces. We have seen ordinary South Africans get up and start to rebuild, clean the streets, and rally to supply much-needed necessities to impacted regions. We hope that our contribution will go some way to relieve the pressure for our loyal business customers.”
Last week Standard Bank released the first R15 million in donations to provide food and necessities to those affected by the recent unrest.
Qualifying Standard Insurance Limited customers will automatically benefit from this 30% relief in premiums for the next 3 months without having to apply. We will also support customers impacted by the recent unrest incidents who have not done so yet, to lodge claims with SASRIA.
Standard Insurance Limited will review the impact of the support to its small business and agricultural clients with a view of extending further support if required.