How can I contact RibéSalat if I have any queries about the status of my policies?
Despite the exceptional situation we are experiencing, RibéSalat guarantees 100% service to all its customers. You can, therefore, contact us through the usual channels in the event of any queries.
Are my policies still effective after the declaration of the state of alarm?
Yes. Insurance contracts (policies) remain effective and are not affected by Royal Decree 463/2020, of 14 March, which declared the state of alarm.
Furthermore, it should be pointed out that no provision has been introduced that modifies the obligation to comply with contracts, including insurance contracts, nor is any part of such contracts suspended or modified.
With regard to the availability of cover, companies have already adopted various contingency plans that allow them to offer their services despite the extraordinary situation we are experiencing.
Does my life insurance policy offer cover in the event of death due to coronavirus?
Yes. Insurance companies have maintained cover at all times, including cover for those who have died from diseases related to COVID-19. In fact, the beneficiaries of life policies have already received compensation for the amounts insured.
Does my healthcare policy provide cover for coronavirus?
Yes. Although healthcare policies specifically exclude cover for pandemics, through UNESPA, the Insurance Business Association, the insurance sector has confirmed that healthcare is guaranteed for all its customers through healthcare policies, which are therefore also effective in this case.
Will my travel assistance policy provide cover if I am abroad and catch coronavirus?
Yes. Although travel insurance policies usually exclude pandemics, companies are operating normally with respect to this cover, meeting the cost of medical care for insured persons infected with coronavirus during a trip within the limits set by the contract.
Travel insurance policies also cover travel, accommodation and maintenance costs for at least one person accompanying the patient. Travel insurance policies that include cover for free cancellation allow the policyholder to cancel a trip for any reason.
Does my car insurance provide cover for any journey, even if it is not authorised by the Government Royal Decree?
Yes. Despite the fact that false news has been spread by social networks regarding the effectiveness of insurance cover during trips that are not among those classed as authorised by the Government, these journeys will continue to be covered by your car insurance.
However, it is important to clarify that unauthorised journeys could lead to an administrative sanction.
As a result of the state of alarm and the lockdown, I have had to stop work. Would I be covered by the loss of profits guarantee of my company policy?
No. Policies that offer cover for loss of profits protect the interruption of the activity as a result of material damage, as specified in the policy. They therefore cover such interruptions provided that they are caused by an incident affecting the premises (fire, explosion, damage, water, etc.).
The cessation of activity due to causes other than damage to the property is not covered.
If the suspension of my business is due to the lack of suppliers or customers who are unable to operate because of coronavirus, will my cover for loss of profits protect me?
No. There is additional cover that extends the cases insured for the loss of profits due to the cessation of business activity to other situations such as lack of suppliers, customers or basic services, but only if they are the result of material damage covered by the policy, even if it occurs on suppliers’ or customers’ premises.
It should be clarified that a lack of suppliers is not the result of material damage and the cover would not, therefore, apply.
Would event cancellation policies cover cancellations arising from the current situation?
No. Pandemics are one of the cases usually excluded in this type of policy. However, there were policies that allowed specific cover to be contracted for these circumstances, but this was prior to the COVID-19 crisis. Since the start of the pandemic, companies have stopped offering solutions of this kind in new policies.
Event cancellation policies cover all parties involved for incidents such as:
- Fire or flooding in the venue, days or weeks before the event.
- Adverse weather conditions, understood as rain, high winds or other similar phenomena, which prevent the event from taking place.
- Problems caused by natural disasters (earthquakes, storms, floods, etc.).
- The non-appearance of artists or actors at the event, due to illness, accident or death.
- National mourning.
- The action of terrorists.
- Civil disorder or popular uprisings.
- General causes, understood as other unforeseen, fortuitous causes, outside the control of the insured, which are not expressly excluded from the contract.
Does my credit policy protect me from possible non-payment, even in the situation caused by coronavirus?
Yes. Credit policies will continue to operate, protecting individuals and entities against debtor insolvency by guaranteeing they will collect amounts owed. Their business-to-business credit operations will thus be covered.
This is a particularly interesting policy due to the latent risk of a very complex financial situation that many companies will experience as a result of current circumstances.
Are there measures to help customers pay for insurance, thus mitigating the financial effects of coronavirus?
Yes, in order to help their customers in the exceptional situation in which we find ourselves, some insurers have implemented support measures in this area.
Although each company has adopted its own initiatives, please consult us if you are uncertain, so that we can confirm whether your company is among those that have established such measures.
Below we list some examples:
- Discounting the part of the premium corresponding to the state of alarm and lockdown period for individual and SME policies.
- More flexible split payment schedules. This includes setting up monthly payments without surcharges or interest for payment in instalments.
- Allowing customers to pay by card.
- Extending the period in which the bill must be settled.
Are there any health guidelines from insurance companies regarding matters related to coronavirus?
Yes. Some companies have established additional communication channels so that customers can consult healthcare professionals about this issue.
Please consult us if you would like information about the companies that have established these free medical guidance channels.