Over the last 12 months, New Ireland has been adapting to the challenging landscape of the COVID-19 pandemic. When the pandemic arrived to Irish shores last year, the impacts and effects of the virus were unknown. While we worked with our reinsurers to understand the implications of COVID-19, in April 2020 New Ireland introduced underwriting limits to groups considered to be most at risk if they contracted COVID-19.
During COVID-19 New Ireland has been keeping this underwriting approach under review, with some limits increased in November 2020. Our aims have been to support customers as much as possible while mitigating the potential losses and protecting our existing customers from potential unplanned exposures to events arising because of COVID-19.
Having considered claims experience over the last year, the trend of decreasing loss of life, the progress being made on the vaccine rollout and the impact the vaccine is having in other countries we are now reverting to underwriting as usual for individual Life, Specified Illness and Income Protection business. Our COVID-19 question will remain on our application forms, any customers who have tested positive, are showing symptoms or are awaiting a test result will continue to be postponed until they receive a negative test result or fully recover.
With immediate effect customers we have had to postpone because they were potentially at increased risk of a more severe outcome if they contracted COVID-19, may now be considered as usual. The only exception is life cover greater than €3,000,000 where some limits will continue to apply due to the availability of cover on the reinsurance market.
We are looking forward to providing more cover to more customers and thank you in advance for your business.