Allianz support for policyholders impacted by COVID-19

3 April 2020

Allianz supports the package of measures that insurers have developed through the Insurance Council of Australia to support our customers most affected by the COVID-19 pandemic. In particular, our eligible SME policyholders who are experiencing financial hardship and those who have purchased travel insurance but are now no longer able to travel.

As part of the package, Allianz will undertake the following initiatives:

  • We will work with our eligible SME policyholders that are experiencing financial hardship and their broker (if they use one) to organise flexible payment arrangements, for example, by offering payment in monthly instalments or deferring their premium payment by up to six months.
  • Allianz wherever possible will reduce payment times to SME suppliers and contractors from the standard 30 days to 15 days or less.
  • We will continue our practice of refunding any unused premium where SME policyholders wish to cancel their insurance cover. In response to the financial and operational circumstances currently facing SME policyholders no cancellation or administration fees will apply.
  • Allianz will maintain full cover for the premises of our SME policyholders even if they are unable to maintain the occupancy requirements under their policy, and no additional premium loading will be applied to unoccupied premises.
  • We will provide a cash settlement to any of our policyholders impacted by this summer’s natural disasters, such as the bushfires and hail storms, that would prefer to receive their policy benefit in cash rather than have Allianz arrange for the repair or replacement of their damaged property.
  • Any policyholders who purchased travel insurance for trips they are no longer able to take will be provided a refund of the unused premium.

These are unprecedented times and we know many of our customers will be significantly impacted by the economic and social ramifications flowing from the pandemic. As always, Allianz will respond to all claims with empathy.

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 4 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.

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