Supporting our small business customers
After months of constant change, Australian businesses are taking stock of where they stand. As part of the Allianz global group, Allianz Australia has been supporting our customers through uncertainty and change for over 100 years. And we’re here to help you now.
We’re offering a Policy Health Check to all small business policyholders to help you review your insurance and check it still meets your needs. We have also developed a package of support measures to aid small businesses suffering hardship as a result of the COVID-19 pandemic.
Assisting small businesses with a Policy Health Check
Much can change in a short time, so Allianz is actively encouraging all our small business policyholders to call us for a Policy Health Check. This is a simple five-step check in over the phone where we will help you review your details, excess, cover and payment frequency, making changes where we can to support you. If your details have changed it is important to tell us, to ensure your cover and premium reflects your new circumstances.
Assisting small businesses with support measures during the COVID-19 pandemic
Defer your premium
If you’re an existing eligible customer experiencing financial hardship as a result of COVID-19, you can opt to defer payments for up to six months to help your business stay insured while you keep it running. Request by 30 June 2020, see the full list of eligibility criteria here.
Extended cover for assets temporarily removed
We have automatically extended cover for assets temporarily removed from your business premises until 30 September 2020 under our Theft and Material Damage cover.
Maintain full cover on vacant premises
We will maintain full cover for any existing small business customers whose premises are temporarily vacant due to COVID-19. The measure will be reviewed as needed.
Our aim is to help you stay insured. But if you do need to cancel your policy we will continue to honour our promise of not charging any administration or cancellation fees. You will receive a pro-rata refund of your premium for the remaining time on your policy.
To be eligible for the relief measures under the Allianz COVID-19 SME Response package, small business policyholders must meet all 4 of the following elements:
- Must be a current Allianz policyholder*;
- Fall within the SME definition set out in the Interim Authorisation by the Australian Competition and Consumer Commission on 2 April 2020, namely that the small business must be an individual, partnership, company or trust:
- 20 employees or less (or less than 100 employees for manufacturing);
- annual turnover less than $10 million.
- Hold one of the following specified Allianz insurance policies only:
Currently facing financial hardship as a result of COVID-19 as meeting one or more of the following guidelines:
- Business Pack
- Small Business Advantage Pack
- Office Pack
- Trades and Services Pack
- Motor Trades Pack
- Commercial Motor Insurance
- Business closed as a result of Federal or State or Territory Government directive in a key sector;
- Business receiving the Job Keeper payments
If any individual SME business does not meet the criteria in 1 to 4 above, Allianz has other hardship options available.
To be eligible for flexible premium arrangements, small business policyholders must have:
- A policy where the policyholder has elected to pay premium on an annual basis which was renewed before 3 April but where payment has not been yet received; or
- A policy where the policyholder has elected to pay premium on an annual basis and due for renewal between 3 April and 30 June 2020; or
- A policy where the policyholder has elected to pay premium on an instalment basis provided they request the flexible premium payments before 30 June 2020.
The following insurance policies are specifically excluded from the relief package:
- All domestic retail products, such as home and motor;
- All regulatory insurances such as Workers Compensation and CTP;
- Standalone Financial Lines products including but not limited to D & O and PI;
- Standalone Broadform Liability (public and product);
- Standalone ISR;
- Farm Pack;
- Dealer Pack;
- Crop insurance;
- Marine Insurance; and