TIO's response to COVID-19
We are here to help

Supporting our customers impacted by COVID-19

TIO has been supporting the Territory through times of uncertainty and change since 1979. We are here to help our customers and suppliers, and have introduced a series of measures to support customers, businesses and communities impacted by COVID-19.

In particular we know it’s a challenging time for small businesses in the Territory and we’re here to help.

Here’s what we’ve put in place to support customers and businesses impacted by COVID-19:

You can find our criteria for existing eligible small businesses here.


Deferring premium payments for up to six months for eligible existing small business policyholders. This is available on request until 31 December 2020, by calling our small business team on 131 846

We understand that cash flow is vital for your small business to survive, so we are offering you the option to defer the payment of your small business annual or monthly premium for up to six months, subject to eligibility.

Although the premium is deferred, eligible small business policyholders will continue to be covered by their existing insurance policy. If you do need to make a claim during this time, the cost of your premium will be deducted from any claims payment.

This offer applies to existing small business policyholders meeting our eligibility criteria, and excludes workers’ compensation customers. Read our full eligibility criteria

If you purchased your policy from us directly please contact our team of small business specialists on 131 846, otherwise contact your broker.


Refunding any unused proportion of premiums for small businesses in case of cancellation

If your small business has been severely impacted by COVID-19 and you need to cancel your insurance, you are able to request a refund of your unused small business premium. You will not be charged any administration or cancellation fees during the COVID-19 pandemic.

For example, if you purchased an annual policy from January until December but you cancelled at the end of March, you will be refunded for the portion of the premium from April until December.

This offer applies to existing small business package policies, excluding workers’ compensation customers.

To request a refund, please contact us on 131 846 if you purchased your policy from us directly, or contact your broker.


Cover for temporarily vacant business premises

We understand that your small business premises might be temporarily unoccupied at this time due to COVID-19. If your premises remain vacant due to COVID-19, we will maintain full cover up until 8 October 2020. If your premises remain vacant from 9 October 2020 you have 90 days to notify us to ensure your cover remains unaffected. Please call us on 131 846.

If you do not notify us, PDS conditions will apply, including any applicable exclusions.

Rest assured, no premium loading or imposed higher excess will be applied to your current period insurance as a result of notification, and we will waive the occupancy exclusion for your current period of insurance once you have notified us.


Cover for assets temporarily removed

If you hold Theft and/or Material Damage cover we will automatically extend cover for assets temporarily removed from your insured premises until the 8th October 2020. From 9th October all PDS conditions apply. Please note, your assets remain insured from 9th October 2020 for the time period stated in your PDS under this benefit. Once this time period has elapsed, your assets will cease to be insured.

Assisting small businesses with a Policy Health Check

Much can change in a short time, so TIO is encouraging our small business policyholders to call us for a Policy Health check. We will help you review your details, excess, cover and payment frequency, suggesting changes where we can support. If your details have changed it is important to tell us, to ensure your cover reflects your changing circumstances. Please call us on 131 846 to update your policy or complete a Policy Health Check.'

Reducing payment timeframes for TIO suppliers, wherever possible

We understand that this is a very challenging time for many businesses.

To help support the businesses that support TIO, we’re reducing our standard payment terms to 15 business days (down from our normal 30-day payment terms) wherever we can.

Refunding the unused proportion of travel insurance premiums

As many travel plans have been cancelled or cut short due to COVID-19, we’re providing policyholders who can no longer travel as planned with a credit or refund for any unused travel insurance premium (for the policy period outstanding) with no administration or cancellation fees applying.


Eligibility criteria for small business policyholders

To be eligible for the relief measures under the TIO COVID-19 Small and Medium Enterprise (SME) Response package, small business policyholders must meet all four of the following elements:

  1. Must be a current TIO policyholder*;
  2. Must be an individual partnership, company or trust with:
    • 20 employees or less (or less than 100 employees for manufacturing);
    • and
    • annual turnover less than $10 million.
  1. Hold one of the following specified TIO insurance policies only:
    • Business Pack
    • Small Business Advantage Pack
    • Office Pack
    • Trades and Services Pack
    • Motor Trades Pack
    • Commercial Motor Insurance
  1. Currently facing financial hardship as a result of COVID-19 as meeting one or more of the following guidelines:
    • Business closed as a result of Federal or State or Territory Government directive in a key sector; or
    • Business receiving the Job Keeper payments

If any individual SME business does not meet the criteria in 2 to 4 above, TIO has other hardship options available, please contact us on 131 846.

You can only make this request once

*To be eligible for flexible premium arrangements, small business policyholders must have:

The following insurance policies are specifically excluded from the relief package: