Following the Covid-19 update received on 23 March, from South African President, Cyril Ramaphosa, regarding the imminent 21-day lockdown, and the clarity received through the Government Gazette, on what constitutes essential goods and services, CTU will, for the month of April and potentially May, reduce all CTU policyholders’ insurance risk-premiums by 35%, and in addition, no inflationary risk-premium increases will be processed for April and May but will be deferred to June.
These measures are in place to help ease the financial burden that the virus has placed on its policyholders, whilst still providing cover, including theft and fire, for when vehicles may not be operating.
"We have already seen the visible impact on the commuter numbers in taxis and busses. We understand the hardships that our industry is facing by the prospect of reduced commuters. We are also very conscious of the vital role of taxis, busses and their drivers, in enabling South Africa’s essential goods and services workforce to travel to and from work, as well as enabling the consumer who needs transport in order to acquire essential goods and services.
"We remain committed to the long-term sustainability of the taxi and bus industry and want to do our part in lightening the load on our policyholders during these challenging times," says Bipin Bhagwan, head of sales and marketing at CTU.
