The economic turmoil caused by measures the government has had to take to try and prevent the spread of the coronavirus has had a serious impact on the incomes of some of Bar Mutual’s Members and therefore their ability to pay their annual premium to Bar Mutual.
The Board of Bar Mutual wishes to stress that Bar Mutual exists for the benefit of the self-employed Bar. It is critically important that it receives sufficient premium at the start of the policy year to pay the claims and expenses it incurs as an insurance company.
In the current exceptional circumstances Bar Mutual has, however, decided that it should adopt measures intended to assist those of its Members who simply cannot pay their full premium prior to renewal of their 2020/2021 insurance policy with Bar Mutual.
For these Members Bar Mutual will accept payment of 50% of the premium now and payment of the remaining 50% by 30 September 2020.
The online renewal site was not designed with this in mind so please arrange a bank transfer of half your premium now with full payment as soon as possible.
Bar Mutual urges its Members to only make use of this facility if they really need to do so.
The Board of Bar Mutual will keep the position under review.