Suncorp New Zealand & AA Insurance make $4m worth of hardship funds available to customers
16 April 2020
Suncorp New Zealand, the majority shareholder of AA Insurance, is matching AA Insurance’s newly established $2m customer hardship fund by establishing a further $2m hardship fund for its Vero and Asteron Life customers.
Suncorp New Zealand and the New Zealand Automobile Association are joint venture partners in AA Insurance, which sells insurance products direct to customers. Suncorp New Zealand also owns the Vero general insurance brand and the Asteron Life insurance brand, whose products are sold through brokers, financial advisers and corporate partners.
Suncorp New Zealand Chief Executive Paul Smeaton says “I’m pleased that AA Insurance customers who may be under severe financial pressure now have access to a hardship fund. I’m equally concerned that Vero and Asteron Life customers facing severe financial challenges have access to similar relief which is why we’ve established a separate $2m Suncorp New Zealand customer hardship fund.”
“We pride ourselves on being there for the moments that matter. Now, more than ever we want to help our customers get through. That’s why we’re putting people first with these commitments to supporting Kiwis under financial pressure.”
In addition to the hardship funds, Suncorp New Zealand made a $100,000 donation to its community partner, Shine, earlier this week. Shine works with families affected by domestic violence and will provide computers, laptops and internet access to families in emergency housing so their children can continue to access online learning and remain connected with school. It will also provide one-on-one counselling to children in crisis.
“We understand how important insurance is as part of a customer’s financial resilience toolkit. We want to be able to help them maintain their cover, even when the going gets really tough,” says Mr Smeaton.
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