Liberty has become the latest insurer to confirm that it will give Irish motor policy holders a rebate. The American insurance company has announced today that it will give back Irish motorists as much as 15 per cent of their original premiums, subject to a minimum of €10, over the next two months.
In total, Liberty expects the rebate to be worth €5 million, although the total will depend on final analysis of books and requests. Customers with live policies will be able to request the rebate through the company's website. Liberty has said that it will, depending on customer requests, either issue 'cash-equivalent' vouchers, or make a donation of the rebated amount to a charity of the customer's choice.
The company is, it says, also offering: "Greater flexibility on payment terms for motor and home insurance premiums" as well as making charitable donations to Alone and Pieta House in Ireland. Across Europe, Liberty says that it has already donated €250,000 to Médecins Sans Frontières.
Tom McIlduff, chief executive of Liberty's Irish operations, said: "Every time we make a decision at Liberty, our guiding principle is to do the right thing, to be responsible and to put our customers and employees first. We recognise that these are exceptional circumstances and now is a challenging time for many of our customers. We also recognise that risks on Irish roads are reduced in light of current restrictions. To this end, Liberty Insurance has committed to waiving a percentage of our customers' motor premiums. We are also giving our customers the option of redirecting this saving to one of a number of charities Liberty is working closely with in the fight against Covid-19. In the meantime, we will continue to explore other ways of supporting our customers and colleagues through this challenging time."