Axa Assurance to introduce new support measures

Following the extension of the lockdown period in Morocco, AXA Assurance is introducing new support measures for its clients:

• a three-months extension of the premium payment deadlines for craftsmen, shopkeepers, liberal professions and very small businesses whose annual payroll does not exceed 1 million MAD (103 000 USD).
• Relaxation of premiums recovery conditions and flexibility of guarantee periods for insured companies along with the possibility of premiums revision.
• maintenance of "business" insurance policy guarantees for companies in cessation of activity, for a period of three months from the date the premium is due.
• free maintenance of death, disability and illness benefits in the second quarter of 2020 for employees on temporary work cessation, who benefit from the support of the COVID-19 fund and who have been registered to the National Social Security Fund (CNSS) by their employer.
• automatic extension of the 60-day coverage period for constractor's all-risk contracts effective as of 20 March 2020 and having an insured value of less than 50 million MAD (5 million USD).
• possibility for "fleet rental or school transport" policy holders to request, during the lockdown period, a suspension of certain motor vehicle coverages for a period of up to 60 days.
• possibility of adjusting the guarantees granted to policyholders who have shut down their industrial production lines.
• possibility of upgrading premiums for work-related accident and civil liability coverage in accordance with the new premium calculation basis (payroll, turnover, etc.).
• holders of a motor fleet policy can request a premium adjustment on a quarterly basis with no need to wait until the end of the year. A quarterly/semi-annual split of the annual premium may be granted by the insurer upon the request of the policyholder.

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