A New Zealand-based insurance company has committed to refunding its car insurance customers with any savings generated by the lack of claims during the country's COVID-19 lockdown.
Tower Insurance is planning to distribute the refunds at the end of May, the business announced on Monday.
CEO of Tower Insurance Richard Harding says the company will not profit from the health crisis and will make further refunds if required.
"We know that people are driving less and this is resulting in lower claims, so any savings we make will be passed back to our customers," he said in a statement.
"There is still a whole lot of uncertainty at the moment and we have not processed refunds on this scale before, which is why we need some time to calculate and arrange them.
"But customers can be assured that refunds will be paid and we will let them know all the details beforehand."
Harding says any customers facing financial hardship should call the company.
"We have a specialist team on hand and a range of options to support customers and help reduce any financial pressure."
