General Insurance Article - COVID19 premium rebates not universal from Europes insurers

 Most major car insurers in the U.S. have enacted some form of premium rebate program, including discounts on future renewals and refunds of a proportion of the amount paid for certain months.

 In Europe, several companies have reported lower claims frequencies in certain lines of business because of government restrictions designed to curb the spread of the virus, particularly personal lines motor. But while most companies are seeing broadly similar trends, there is a patchwork of responses.

 Smaller and more specialist insurers have led the way on rebates. U.K. motor insurer Admiral Group PLC announced April 21 that it would return a total of £110 million to car and van insurance customers because they are driving less. Allianz Group's U.K. personal lines subsidiary, Liverpool Victoria General Insurance Group Ltd., said May 1 that it had made £30 million available to refund car and motorbike customers who are facing financial difficulties because of the pandemic, funded by savings it expects to make from reduced claims.

 And U.K. personal lines insurer Direct Line Insurance Group PLC said in its first-quarter trading update that it is refunding premiums for motor policyholders who reduce their annual mileage or cancel cover for foreign use of their vehicle, and is also refunding travel insurance policyholders with multi-trip policies on a pro rata basis.