Allianz provides support for vulnerable COVID-19-affected customers

28 May 2020

Allianz Australia is committed to supporting those affected by the COVID-19 pandemic, and has in place a range of provisions that may provide assistance for customers experiencing financial hardship.

Allianz is offering a policy health check to policyholders to help you review your insurance and check if it still meets your needs. The simple five-step check helps a customer review their details, excess, cover and payment frequency. Where possible, Allianz can then make any changes to support customers.

Allianz appreciates this is a difficult time for many of its customers and it is committed to assisting where it can. As individual customer circumstances can vary enormously, Allianz strongly encourages any customer who may be experiencing hardship to get in touch for a policy health check, and discuss the ways in which Allianz may be able to help.

Allianz support measures during the COVID-19 pandemic include:

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Premium holds Existing Direct Home and Motor customers have the option to place their monthly premium payments on hold for up to 60 days.

Option to continue to pay monthly

For customers whose policy is cancelled due to non-payment of monthly premium, can now take out a new policy and continue to pay by monthly instalments.

Defer an excess payment

Customers with a new or existing claim, and who are unable to pay their excess up front, have the option to pay it in instalments or defer. Deferred excess payment applies to claims that are cash settled and where the amount claimed exceeds the excess.

Waiving cancellation fee

Where a customer no longer needs their home or motor insurance, the cancellation fee will be waived, where applicable.

Fast tracking refunds

Where a customer cancels their insurance, Allianz will fast-track refunds to 48 hours, reduced from the usual 15 business days (excludes Travel Insurance).


Deferred premium payment arrangements for eligible small business policyholders experiencing hardship

Existing eligible small business policyholders who are experiencing financial hardship due to COVID-19 have the option to defer their premium payment by up to six months (where they make this request by 30 June (subsequently extended until 30 September 2020) so they can focus on keeping their business running with existing insurance cover in place during this period. Full list of eligibility criteria can be found on the Allianz website.
No cancellation/admin fees for mid-term cancellations, refunds of unused premium processed as normal Pro rata refunds of unused premium to small business policyholders who cancel their insurance will continue, with no administration or cancellation fees applied.
Full cover for premises temporarily vacant Allianz will maintain full cover for existing small businesses needing to temporarily leave their premises vacant as a result of COVID-19; with no changes to their excess or premium. This will be reviewed on an ongoing basis as needed.

Extended cover for assets temporarily removed

To support existing customers who have had to remove their assets from their business premises, Theft and Material Damage cover is automatically extended until 30 September 2020.

Allianz has also fast tracked new provisions in the General Insurance Code of Practice, including the updated provisions relating to family violence and assistance for customers experiencing vulnerability and or financial hardship. These key initiatives are underway and will be in place by 1 July 2020.
For full list of eligibility criteria and support measures, visit the Allianz website, or call 13 1000 (consumers) or 1300 131 000 (small business) for a policy health check.
For any media enquiries, journalists can contact our Media Team.
Allianz Australia has been securing the future of our customers in Australia since 1914. We deliver a wide range of personal and commercial insurance products and services to more than 3 million policyholders. We also provide support for workers' compensation insurance to around 25% of the top 200 ASX companies, making us one of the leading workers' compensation insurers in Australia.

Allianz Australia Limited is a wholly owned subsidiary of the worldwide Allianz Group. The Allianz Group is one of the world's leading insurers and asset managers with corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services, credit insurance and global business insurance. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index.
This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708 (“Allianz”). In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way.

Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.

Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.

Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.