TD Insurance suspends non-payment insurance cancellationsBy The IJ Staff | April 09 2020 12:56PM
As part of a broader package of relief measures for customers impacted by COVID-19, TD Insurance has announced that it will temporarily suspend the cancellation of home and auto insurance policies that have lapsed due to non-payment.
Like other insurers TD is also allowing eligible home and auto insurance customers who are impacted by COVID-19, to request a 90-day deferral of monthly payments. It will additionally, temporarily adjust premiums to reflect changes in personal vehicle usage. Like other insurers across the board, TD is also waiving non-sufficient funds (NSF) fees that may occur on policies during the global pandemic.
In its announcement, the insurer says it is actively urging customers to use online and mobile applications to review their policies, make changes and execute other transactions. It is also asking customers to make use of digital chat capabilities as an alternative to calling its call centres. TD says the insurance division’s call centre has received more than 245,000 since March 16.
As for employees, TD says roughly 80 per cent of TD Insurance employees will be working from home by mid-April. Those who must continue to work from the insurer’s physical locations may be provided with additional compensation. TD Group’s president and CEO, Bharat Masrani told the company’s employees earlier this week that there will be no job losses in 2020 as a result of COVID-19.