Relief package to date now totals N$60 million.
Hollard Namibia announced earlier this week that they will release a second N$30 million COVID relief package to their policyholders in Namibia from October to December this year. "This will take the total relief that we have made available so far to N$60 million,” said Sam Kauapirura, Head of Corporate Communications at Hollard.
The relief will primarily take the form of premium subsidies over a consecutive three month period starting from 1 October 2020 and ending 31 December 2020, as well as a very specific relief initiative to clients in the tourism sector. In essence this means a 20% premium reduction on all motor, life and funeral policies from 1 October to 31 December 2020.
"The relief is a combined effort and is funded by our shareholders, business partners (insurance brokers & agents) and staff of Hollard Namibia," added Kauapirura “this is another way that Hollard is enabling more people to create and secure a better future.”
The impact of COVID-19 has been devastating to the Namibian economy, hot on the heels of a four year recession, the catastrophic collapse of the construction industry 5 years ago, and three years of severe drought, which impacted the farming communities.
In the instances of the collapse of the construction industry, and the severe drought affecting farming communities, specific relief was made available to those sectors. With COVID-19 it is different as the impact is far reaching. COVID-19 and the ensuing global lockdowns and travel restrictions had a direct impact on the tourism industry whereas regional and national lockdown measures to curb the spread of the virus impacted almost all Namibian businesses and households.
"The relief needed is much more substantial than in the two previous instances, and our affected client base is wide spread. The COVID relief initiatives will reach up to 50,000 policyholders," Kauapirura further stated that Hollard is committed to the wellbeing of clients and the community. “As a company, we are extending a helping hand to Namibians facing the hardship brought on by the COVID-19 pandemic,” concluded Kauapirura.
Hollard Namibia advises to speak to your broker or call their friendly staff on 061 422 300/600 if you have any enquiries regarding your premium discount.