Rural insurer NFU Mutual has announced a £32m ($39.4m) support package for customers and communities affected by coronavirus.
The package includes £24m worth of changes to insurance by including additional cover across a range of policies. This is expected to provide £12m worth of pay-outs for members affected by the illness in 2020.
It will also help speed up claims to the cost of £1.35m. Highlighted will be processes without the need for unnecessary contact.
Furthermore, the Coronavirus Support Package has a £1.8m increase in charitable donations. This includes a new emergency fund distributed to deserving local charities across the UK.
In addition, £5m is put aside for a planned support scheme for NFU Mutual’s local agency network.
Lindsay Sinclair, group CEO of NFU Mutual, said: “The Coronavirus pandemic has had a huge impact on everybody, including our customers and their local communities, which is why we have committed to this unique package of support.
“Not only are we significantly increasing our charitable donations and utilising our local Agency network to help those most in need, but we are also in the process of making real changes to our insurance products that will benefit our customers.
“We have committed to £32m of support, and are already looking at what more we can do.
“On top of that, despite the challenges we are also facing, we have decided to continue to offer a high level of Mutual Bonus, because we recognise this is a difficult period for all. This is expected to save our loyal customers £250m in the form of premium discounts.
“Many of our customers have been affected by this outbreak and a significant number of them are key workers, responsible for helping to feed and support the nation in difficult circumstances.
“On behalf of NFU Mutual, I would like to personally thank you for all you are doing for the country and assure you we will continue to look at more ways to support our customers.”