Allianz support for small businesses during COVID-19

Assisting small businesses with support measures during COVID-19

Allianz Australia has been supporting our customers through uncertainty and change for over 100 years. During the onset of COVID-19, we introduced a series of measures to support small business policyholders experiencing financial hardship as a result of the pandemic.

Due to the changing environment we have reassessed our support measures and have made a number of updates to these based on your insured business location.

If your business is located outside of Victoria, you may need to contact us to maintain your cover.

Support for customers outside Victoria

If your business premises are located in NSW, SA, ACT, NT, QLD, TAS or WA the following support measures are applicable to you:


Cover for assets temporarily removed

If you hold Theft and / or Material Damage cover, we will automatically extend cover for assets temporarily removed from your insured business premises until 8 October 2020. From 9 October 2020 Product Discolsure Statement (PDS) conditions will apply. Please note, your assets will remain insured while removed from your insured premises from 9 October 2020 for the period stated in your PDS under this benefit. Once this period has lapsed, your assets will cease to be insured under this benefit. If you require insurance for assets permanently removed from your business premises please contact our small business team.


Cover for temporarily vacant business premises

We will maintain full cover if your premises are temporarily vacant due to COVID-19, with no additional excess or premium, until 8 October 2020. If your insured premises remain vacant from 9 October 2020 you must notify us within 90 days to ensure your cover is maintained. Please contact the Allianz small business team on 1300 131 000. If you do not notify us within 90 days, standard PDS conditions will apply, including any applicable exclusion.

Support for customers in Victoria

If your business premises are located in Victoria, the following support measures are applicable to you:


Cover for assets temporarily removed

For customers holding Theft and/or Material Damage cover, we have automatically extended cover for assets temporarily removed from your insured business premises. All customers in Victoria will have this additional cover until further notice. This will be reassessed as required.


Cover for temporarily vacant business premises

We will maintain full cover if your premises are temporarily vacant due to COVID-19, with no additional excess or premium. All customers in Victoria will have this additional cover until further notice. This will be reassessed as required.


Any future update to support measures available to customers in Victoria will be communicated to affected customers and displayed on the Allianz website.



Support for all customers

All small business customers have access to the follow support measures:

Defer your premium payments for up to 6 months

Existing eligible customers experiencing financial hardship as a result of COVID-19 can opt to defer premium payments for up to six months to help your business stay insured while you keep it running. This is available for request until 31 December 2020 by calling our small business team on 1300 131 000. Deferral can only be requested once.

See the full list of eligibility criteria here.

Pro-rata refund and no cancellation fees

Our aim is to help our customers stay insured, however, if you need to cancel your small business insurance policy we will continue to honour our promise of not charging any cancellation fees. If you need to cancel your policy you will receive a pro-rata refund of your premium for the unutilised period of your policy.

Call us to request a policy health check

Much can change in a short time, so Allianz is actively encouraging 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, suggesting changes where we can, to support you. If your details have changed it is important to tell us, to ensure your cover reflects your new circumstances.

    

Eligibility criteria for small business policyholders


To be eligible for the deferment of payments as a result of Allianz’ COVID-19 response package, an SME must meet all four following criteria:

  1. Must be a current Allianz policyholder*;

  2. Must be an individual, partnership, company or trust with:
    1. 20 employees or less (or less than 100 employees for manufacturing);
    2. and
    3. annual turnover less than $10 million.

  3. Hold one of the following specified Allianz insurance policies only:

  4. Currently facing financial hardship as a result of COVID-19 as meeting one or more of the following guidelines:
    1. Business closed as a result of Federal or State or Territory Government directive in a key sector;
    2. or
    3. Business receiving the Job Keeper payments

If any individual SME business does not meet the criteria in 2 to 4 above, Allianz has other hardship options available.

You can only make this request once.


*To be eligible for flexible premium arrangements, small business policyholders must have:

The following insurance policies are specifically excluded from the relief package: