Retail Customer Communication

In response to the closure of all non-essential retail outlets until Sunday 19th April, we have been assessing the insurance implications of these new government actions and investigating ways that we may be able to assist our retail customers (whether assessed essential or non-essential by the government).


We are therefore contacting you to say we will do whatever we can to help.


In our view, there are 5 main areas that require immediate consideration.


1. Business Interruption:
You will understand & appreciate that we cannot give any guarantees that claims will be covered but we will endeavour to help you wherever possible.


Please click on the link below, complete the form and email it to This will allow us to start the process of understanding what level of cover there might be under your individual policy for the Covid 19 related closure.


We are receiving a high volume of calls and notifications. To help us process your claim quickly, when notifying us of a potential claim, please include – Your policy number or Client Code.


As soon as we have clarity from your insurance company we will let you know.


2. Addition or change in Business Description Activity:
Retail outlets that remain open may be experiencing significant changes in business operation and activity. For example, you may be holding more stock than normal on your premises to cope with consumer demand or you may now operate a delivery service. Any additional or changes to your business activity need to be advised to your Campion Insurance account handler.


3. Paying premium by instalments via Premium Credit:
If you are concerned about meeting repayments, you should contact Premium Credit at 0818 300095 without delay to discuss how they might assist.


4. Non-trading Period / Unoccupied premises:
Our advice is, when the business is not trading, you should contact your Campion Insurance account handler. There may be implications in respect of your current business insurance policy, should the premises be left unoccupied.


We will also explain why cancelling your policy is not an option you should consider – you will highly likely have an exposure even when not trading and we will give you our best advice on what to do.


5. Non-trading Period / Return premium:
We are currently in negotiations with the relevant insurers to agree that they will calculate a credit for you based on the fact that your business is not currently trading.


We are requesting that this credit can be:

     a. Used against the renewal of the policy.
     b. Used to extend the policy beyond the current renewal date.


It is important that you notify us now if your business is closed to benefit from any potential credit.


These are challenging and uncertain times for us all but we are here to help you.


Please do not hesitate to contact your Campion Insurance Account Handler or call our dedicated commercial team on 1890 300 301 to discuss further.



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Important Assumptions

For the purpose of determining the term over which pension contributions are made, we have assumed your birthday was exactly six months ago.

If your target retirement age is lower than the age at which the Social Welfare pension commences (age 68 if you are born on/after 01/01/1961, age 67 if born before this date but on/after 01/01/1955 and age 66 if born before 01/01/1955) the calculations allow for funding for this gap, in addition to the cost of the annuity.

You are entitled to a full Social Welfare pension of €248.30 per week as at March 2019 which is assumed to increase by 2.5% per year.

You are saving for the difference between the Social Welfare pension and your target monthly income in retirement.

We have allowed for inflation of your target monthly income of 2.5% per annum between now and your retirement date.

Any other private pension provision you may have in place has not been taken into account.

Your monthly pension contribution increases by 2.5% each year up until your retirement age and is invested in a pension plan with an annual management charge of 1% and a 5% charge on each contribution, in line with the Standard PRSA fees and charges maximum limit.

A Gross Investment Return of 4.2% per annum on your savings. This is not a forecast because the value of your investment may grow at a faster or slower rate than assumed and the value of your investment may be expected to fall from time to time as well as rise.

On retirement you purchase an annuity which escalates at 1.5% each year, has a 5-year guarantee and is payable monthly in advance. The annuity rate assumes a post retirement interest rate of 2% per annum and no spouse’s pension. The actual annuity rate will depend on the selection of dependant’s pension, guaranteed period and the escalation rate, as well as interest rates prevailing when the annuity is purchased.


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