As the coronavirus pandemic continues to impact us all in different ways, our ongoing priority is to look after our Members, colleagues, suppliers and communities. That means acting in a responsible way, consistent with our mutual values.
Here is a summary of some of the ways in which we are delivering existing or enhanced services during the COVID-19 pandemic. More detail is available in our FAQs, which are being regularly updated as we identify new ways to contribute during this developing situation.
We welcome any suggestions as to how we can support our Members, employees, suppliers and the wider community at this challenging time.
None of our policies that provide cover for Business Interruption respond to losses that flow from COVID-19, which is the same for most policies in the insurance sector as a whole. We have explained more about business interruption cover and the insurance industry here and the FCA Business Interruption Test Cases are covered in our FAQs here.
We are each affected in some way by COVID-19 and we are all doing our bit to help. Many of our employees are also members of the farming community and a number of our colleagues have been working hard, volunteering in their local areas.
We are observing Government advice to protect ourselves, our families and our business and we urge you to do the same. We look forward to being able to meet our Members and work with you all face to face once again in the near future.
Maintaining our service levels
Unlike many businesses, we are not furloughing any of our employees. The whole team is working from home and is available to offer the full range of services that our Members are accustomed to. You can still expect to have the phone answered promptly during our normal operating hours. We recognise there will be Members who will need additional support and we will prioritise those in vulnerable circumstances.
Where appropriate and in line with social distancing rules our field-based teams are now undertaking some face to face meetings.
Providing good coverage
Our policies naturally respond well to many indirect situations that have arisen as a result of the pandemic. For example, our Home Insurance covers you to work from home. If you suddenly have to use your car for business or voluntary work, don’t worry: that is covered too. There is no need to contact us to inform us of these sorts of changes but please do get in touch if you are unsure about your cover.
Free extension of some cover
We will be extending the coverage of some of our policies for a number of circumstances bought on by the COVID-19 crisis. For example, we will be extending the period for which a property can be unoccupied, subject to you taking certain simple precautions. Please contact us if you need more information on this.
No admin charges
Remember that Cornish Mutual never makes administration charges. That means, if you do need to make an amendment to cover for any reason, including in response to the current situation, you will not be charged an administration fee. Our advisors can explain the impact of making changes to your policies.
Cancelling or reducing cover
While we would not recommend anyone cancelling insurance at a time when financial vulnerability is at its highest. However, if this proves to be absolutely necessary, Cornish Mutual will provide a full pro rata refund for the period of cover cancelled with no deductions for administration.
Please think carefully about any changes you have in mind and discuss your full range of options with us.
Payment of premiums
If you are experiencing financial difficulty as a result of the virus please make contact with us and we can assess whether there are other products or covers that we can offer you that better suit your needs or whether we can amend your payment terms – including possible payment deferrals for a short period.
We do have direct debit payment instalment plans of up to 10 payments including a deposit. Those who have not used this option before are most welcome to do so to help with cash flow.
Supporting our suppliers
We remain committed to paying our suppliers promptly. We are aware that payment terms are being tested at the moment, but as a prudent mutual insurer we have the financial resources to be able to continue to support our local supply chain. We are continuing to work with suppliers, as far as external events and social distancing arrangements allow.