How has this amount been calculated?
The total amount outstanding will include premiums that we did not charge in the period immediately following the cyber incident (between 29 November 2022 and 18 December 2022) and/or the increase to premiums following a policy anniversary.
Three main data sources were used in the calculation for outstanding premium:
Members’ balances as at 29/11/2022 – We were able to get an extract of our system prior to the cyber event that contained all members’ balances as of 29 November 2022. This allowed us to include any arrears or credit prior to the cyber event.
Member premium recalculation – We recreated member charges for the period from 30 November 2022 to 13 March 2023 to calculate what premium a member would have been charged if we had a system over this period. This took into consideration if members had an anniversary over this period and whether they were eligible for discounts.
Premium Received – We reconciled all customer initiated payments, credit card payments and direct debit payments made to us over this period. This part of the calculation also factored in any dishonours.
Based on this data, we checked each member's account for any outstanding premium at the time of the cyber event (arrears), added the correct premium charge for the period, and then subtracted the premium we received during that period to produce the final figure.
How long will the special adjustment apply?
The special adjustment will apply until the outstanding premium has been repaid. In most instances, this will be around 31 August 2023.
What if I miss a payment?
If you miss a payment, your special adjustment will continue to apply until your outstanding premium has been paid.
Am I able to make a manual payment?
Unfortunately, due to the complexity required to calculate the repayment and record it correctly in our system, it is not possible to make a manual payment towards your premium.
What if I make a change to my policy or have an anniversary before the payments have completed?
If you make a change to your policy that impacts your premium, or you have a policy anniversary, the special adjustment will be on top of your updated premium. Please note that this special adjustment will not be recorded on your policy certificate.
Why can’t you just wipe my premium?
Unfortunately, due to the number of members impacted by this incident, it is not financially feasible to waive the premium outstanding for all members. All members have maintained full cover and all eligible claims continue to be paid, as a not-for-profit cooperative organisation, it is important that we recover any outstanding premiums to ensure fairness for all of our members.
Can I cancel my policy?
You are able to cancel your policy. However, you will be required to pay any outstanding premiums up until your date of cancelation, regardless of whether you have claimed or not.
I don’t think I can afford my repayments, what are my options?
To assist those members who may need support with premium payments, we have established an Accuro Hardship Committee. This committee will review individual members’ circumstances and arrange an appropriate response to enable the member to manage their payments and retain their cover.
To contact the Hardship Committee, please email email@example.com