We know it is important to continue considering whether our customers’ individual circumstances may have changed in a way that means they may be considered as vulnerable, including experiencing temporary financial difficulty.
Vulnerability can manifest itself in a number of different ways and at any time – even if temporarily. It may be that customers are experiencing financial difficulty such as cash-flow or salary reductions or operational difficulties such as disruption to suppliers or staff. There may be changes to home life or personal or family health issues and we are aware that some may be feeling isolated. All of these are potential vulnerability risk factors.
If any of these circumstances apply, and there are ways you think we can help, please get in touch. We will do what we can to help navigate these, including:
- Re-assessing insurance needs
- Identifying alternative products which might be better suited to your current circumstances
- Revising cover; and
- Facilitating discussions about payment deferrals and other forbearance measures with premium finance providers and insurers.
The FCA has recently published guidance for insurers dealing with customers who may be suffering financial hardship and this has been shared widely with our colleagues to ensure they are aware.
Our team is trained in helping in these difficult circumstances, and finding solutions via insurers, and other partners, and we are here for customers to get in touch, whether it is for a structured meeting or a more informal chat, which can be done via phone or virtual meeting.
Remote working hasn’t changed our commitment to our customer relationships, so please get in touch. Speak to your usual Gallagher representative or contact us.
