In 2018, Swedish ICMIF member Folksam introduced compensation and support in its home insurance for customers who have been exposed to violence in close relationships. This protection has now been improved by Folksam by also including financial support to cover urgent additional costs and providing compensation for repeated physical violence in a close relationship.
In 2018, Folksam says it was the first insurance company to introduce compensation and crisis therapy for assaults that take place between people living in the same household. Assault compensation has previously been accrued to men to a greater extent because they are more often affected by violence outside the home. The extended protection now provides the opportunity for all vulnerable people to have corresponding insurance protection also at home.
Following the change in insurance terms that took place in 2018, the need for compensation for urgent additional costs became clear to Folksam.
“Unfortunately, we know that the financial concerns can weigh heavily when someone is considering leaving their home due to violence in close relationships. To get out of a vulnerable situation, costs can arise that not all customers have the means to pay for. As an insurance company, we can pull our weight here and therefore we are now improving the protection in our home insurance, says Ylva Wessén (pictured), Folksam’s CEO and ICMIF Board Member.
Folksam’s home insurance now also includes compensation for urgent additional costs that arise when a victim needs to leave the home, such as travel to a women’s shelter or other emergency accommodation as well as costs for food, telephone cards, hygiene items and the like. Folksam says that the compensation that customers can receive from their home insurance should be seen as a complement to the protection society offers.
“Recently, the issue of domestic violence has been in focus. We do not believe that this solves the whole problem, but if we as an insurance company can help those who are exposed to violence in any way, it feels important to do so,” says Ylva Wessén.
What does the insurance cover?
- Assault compensation for individual damage events
- Compensation for persons who are subjected to repeated physical violence (ie serious breach of the peace and serious breach of women’s rights)
- Compensation for additional costs that arise when you are forced to leave your shared home and arrange other accommodation
- Opportunity for ten contacts with a psychologist as well as costs for travel and possible interpreter for the visit
- Extended limitation period for minors
Folksam says it has previously established routines for how it handles cases where the perpetrator and victim are covered by the same home insurance.
The new assault protection will be introduced on 1 July this year and applies to everyone who has home insurance with Folksam, regardless of scope. A large part of Folksam’s home insurance is offered via the unions’ member insurances. In various collaboration forums with Folksam, the unions have stated that this is an important change they want to implement.
Safe in a sustainable world
Folksam’s vision is for its customers to feel safe in a sustainable world. Feeling safe in your own home and in your own family is the basis of all other security.