Car insurance giant Admiral is giving back £110m in cash to its car and van insurance customers in recognition of them staying at home and driving less due to the Covid-19 lockdown.
The Cardiff headquartered and FTSE 100 firm, said a £25 refund will be automatically given to all customers for each car and van covered with Admiral as of April 20th.
Its 'Stay at Home Refund' initiative extends to 4.4 million vehicles.
Customers will be credited by the end of May.
The company has already waived any motoring claims excess fees for NHS or emergency service workers and supporting volunteers, by guaranteeing cover for customers using their vehicle to transport people, deliver medical supplies and equipment, or items to people who are self-isolating.
In addition, Admiral is showing its support for NHS and emergency service workers by giving them a free courtesy vehicle if their vehicle is stolen, undriveable after an accident, or declared a total loss.
The combined initiatives add up to £190m, representing a third of its profits last year.
It has also set up a £4m Admiral Support Fund for Covid-19, which is predominantly providing funding and support in South Wales — where it employs more than 8,000 in Cardiff, Newport and Swansea — to NHS, charities, support groups. It will also allow them to contribute to any insurance industry wide charitable effort.
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Cristina Nestares, chief executive of 海角视频 Insurance at Admiral said: “During this challenging period, our main priorities have been helping our customers, supporting our local community and protecting the wellbeing of our staff, which is why we have introduced these initiatives to give something back to the customers and communities we serve.
“This is an unprecedented time when people across the country are driving significantly less than before the lockdown, and we expect this to lead to a fall in the number of claims we are seeing. We want to give the money we would have used to pay these claims back to our loyal customers in this difficult time. We have also already reflected this change in driving behaviour in our pricing for customers and will continue to do so.
“The Admiral Stay At Home Refund was launched to recognise the considerable efforts people are making by staying home as much as possible and as a result driving less. Customers don’t have to contact us to receive this, we’ll be in touch with them in the coming weeks to explain how we’ll refund them."
All Admiral employees are being paid their full salaries with no staff being furloughed.