Insurers help their tenants in the crisis
In the Corona crisis, insurers Swiss Life and Helvetia are supporting small businesses and the self-employed with rent deferrals, in some cases even with rent reductions and rent-free periods.
The Corona crisis is putting many small businesses and self-employed people in existential distress. Insurance groups, which are among the largest real estate portfolio holders in Switzerland, have responded by accommodating tenants of commercial space. Swiss Life, for example, is granting rent deferrals on an individual basis as well as rent reductions to micro-businesses and the self-employed, who are particularly affected by the Federal Council's measures to deal with the Corona crisis. "A team of specialists will ensure that our support will benefit those professionals who really need it," says Stefan Mächler, Group CIO Swiss Life. So far, Swiss Life has already been able to offer effective support to affected tenants with its rent deferral offer, he said. "With the possibility of temporarily waiving the rent for micro-enterprises upon request, we hope to make a further contribution," says Mächler.
Helvetia has also decided to provide additional financial support to particularly hard-hit business tenants during this phase. The focus is on those businesses that had to close their store due to official orders, Helvetia says. "The loss of sales and earnings is of existential importance for small and micro businesses. A deferral of the rent is often not enough to continue their business after the measures have been relaxed. To give them a future, we waive part of the rent and can thus help quickly and pragmatically," explains André Keller, CIO of Helvetia Group. Helvetia will therefore grant rent-free periods and rent reductions in addition to rent deferrals on an individual basis. Agreements would be made without recognition of a legal obligation, industry-specific and tailored to the financial situation of the individual company, says Heller.
In addition to rent reductions, Helvetia offers a hand for simple and pragmatic solutions in the crisis. For example, the insurance company provides support in the event of liquidity bottlenecks and stops reminder and dunning processes for premium invoices until June 30, 2020. It also triggers claims payments immediately. Helvetia advisors support SMEs with applications for state aid and clarify legal issues together with its partner Coop Rechtsschutz. (bw)
