Latest Covid-19 FAQs from NIG
Authored by NIG
At NIG, we continue to work hard to ensure our brokers and customers receive the service they need at this time. We have implemented further changes to our systems to provide more flexibility to help you and your clients. Please see additional FAQs, to enable you to respond to your clients' queries.
eTrade Mini Fleet SORN Vehicles
Can you provide "Laid up" cover for eTraded Mini Fleet policies?
Yes, with effect from 20th April we are now also able to apply "Laid up" cover to our eTraded Mini Fleet policy. Policyholders that declare their vehicle(s) as SORN may request cover to be reduced to Laid up Accidental Damage, Fire & Theft or Laid up Fire & Theft. Alternatively, they may look to remove the vehicle from the policy entirely.
When a vehicle is declared SORN it cannot be parked or driven on the road - as defined within the Road Traffic Acts. The vehicle is also removed from Motor Insurance Database.
The 'Laid-Up' cover should not exceed the existing vehicle damage cover, e.g. if the vehicle is currently Third Party Only, then the vehicle should just be removed. Please send in a copy of the SORN declaration when asking to reduce the cover.
eTrade Mini Fleet Minimum Number of Vehicles
What is the minimum number of vehicles my client can have on an eTrade Mini Fleet policy?
With effect from 20th April we are now able to write down to one vehicle for existing eTrade Mini Fleet policy. Please speak to your usual NIG eTrade contact in Peterborough.
Monthly Premium Instalments for NIG Policies
As a direct result of Coronavirus my client cannot afford their monthly premium instalment. What should I do?
If your client is struggling to pay their monthly premium instalments please speak to your usual NIG contact. We will look to provide assistance, which may include a payment deferral. This would mean that when monthly payments resume the amount that has been missed will be spread over the remainder of the agreement. In these instances, NIG will not charge any additional interest or fees on the deferred balance and any agreed payment deferral will not have a negative impact on your client's credit score. This is purely a premium deferral to support your client as a result of the impact of COVID-19 and the payment amount due under the original credit agreement remains.
We are receiving lots of different enquiries and are doing all we can to support you and your clients. Please don't hesitate to speak to your usual NIG contact.
Stay safe and look after those around you.
About NIG
We’ve been experts in commercial insurance for 125 years.
The National Insurance and Guarantee Corporation (NIG) is a broker only insurer; we believe in getting to know both the brokers we work with and their clients’ businesses, building trusted partnerships that last for the long-term. Our highly experienced underwriting team are focused on working with brokers to identify and understand the risks faced by UK enterprises. Together, with our risk control experts and risk management tools we develop solutions to help UK enterprises reduce and mitigate key exposures. We offer a wide range of products with flexibility to create tailored insurance cover and when clients need us, claims are dealt with quickly and fairly through a proactive claims approach.
Our trading model has been designed to reflect the differing requirements of how brokers like to trade, with regional offices, National Trading Centre, National Schemes Centre, eTrade Centre of Excellence and dedicated experts for specialist sectors.
We’re investing in new technology to make us even easier to trade with. We’re launching an online risk management resource supported by our in-house Risk Control Team and introduced online claims submissions to speed up the claims process, minimising disruption to clients’ businesses. We are also the only insurer two years running with a five-star rating for both TheHub and Software Houses, in the Insurance Times 2019 and 2020 eTrade survey.
We are dedicated to making UK enterprises more resilient.
NIG is a wholly owned subsidiary of Direct Line Insurance Group plc, providing stability and financial strength. Our policies are underwritten by U K Insurance Limited.