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COVID-19 – A note from our Chief Cactus

Spike

To our clients,

These are unprecedented and uncertain times.

A lot of our clients were too young to see the real effects of the Global Financial Crisis in the mid-late 2000’s, however I am sure that quite a number of you saw them first hand.

With what looks to be like an impending similar situation globally, it is essential that we are all proactive and positive in tackling this head on.

It is more important than ever to ensure that you are properly covered as there will be increasing levels of crime and theft.

Already in the past couple of days we have had a number of clients have their vehicles, tools, and other key equipment stolen.

We don’t want this to happen to you, but unfortunately things like this are more likely to happen during times of crisis so you need to be prepared. We will be here for you if or when this happens.

Unfortunately we are unable to place your cover ‘on hold’ as this is something the insurers do not offer in their annual contracts, however, we understand that many of you will be in difficult financial situations because of the COVID-19 lockdown so we are urging every client to apply for the Government grant that’s available to employers, subcontractors and sole traders.

You can find out more on this here, but we have outlined a few of the details below.

Further, the Government has said that most major banks are now offering a 6 month mortgage repayment holiday to those whose finances have been affected by COVID-19.

The package includes a six-month principal and interest payment holiday for mortgage holders whose incomes have been affected.

The details of this initiative are currently being finalised and banks will make these public in the coming days.

Get in touch with your bank for more information and to apply.

Over the next few days we will be working hard with the insurer to find any other ways we can support you through this time.

We are here to help you through this so please take a breath, let the dust settle, hold tight, and do get in touch if you have any queries or concerns.

 

– Nicholas Rolfe, Cactus CEO/Founder

 

Sole Traders / Subcontractors

Every sole trader and subcontractor is eligible for the government grant and should do this immediately. You are eligible to receive the COVID-19 Wage Subsidy paid at a flat rate of:

● $585.80 for people working 20 hours or more per week
● $350.00 for people working less than 20 hours per week.

The grant is being paid out very quickly.

 

Employers / Business Owners

Every employer is eligible for the government grant and should do this immediately. You are eligible to receive the COVID-19 Wage Subsidy paid at a flat rate of:

● $585.80 for people working 20 hours or more per week
● $350.00 for people working less than 20 hours per week.

The subsidy is paid as a lump sum and covers 12 weeks per employee. You will be asked to list your employee’s names on the application form.

This subsidy is for wages only. It is to help you keep your staff employed while you consider changes that may be needed while the disruption continues, and to ensure the future viability of your business.

The grant is being paid out very quickly.

 

Mortgage Repayment Holiday

The government has said that most major banks are now offering a 6 month mortgage repayment holiday to those whose finances have been affected by COVID-19.

The package includes a six-month principal and interest payment holiday for mortgage holders whose incomes have been affected.

The details of this initiative are currently being finalised and banks will make these public in the coming days. Get in touch with your bank for more information and to apply.