Continuing support through Covid-19

With the UK experiencing further regional and national restrictions, we want to update you on what this means for new claims, the impact of the FCA test case appeals process on your affected customers, and remind you of some of the support options we/Allianz have in place for our brokers and customers.

New claims

The extension of restrictions to further areas of the UK will impact some customers, who may consider making new claims for Business Interruption.

As was the case with the March restrictions, most of our Allianz policies do not extend to cover these losses. Policies typically cover Business Interruption losses following damage to the Insured’s property – or a nearby property – as a result of specific one-off and localised events such as fire, theft or storm. How the policy will respond to losses caused by the current Government restrictions will depend on both the precise terms and conditions of the policy and the differing rules that apply between areas of the UK. We’ll continue to work closely with you to consider any new claims promptly and fairly, and communicate any decisions as fast as possible.

FCA test case appeals process

On 7 October, Allianz advised that they had contacted all customers identified whose claims were potentially affected by the FCA test case judgement and appeal. They explained how they were working through their policies to understand the possible impact of the judgement and appeal on their claims.

They’ve now carried out this policy review and written to all customers whose claims may be affected. If the appeal won’t affect a clients claim, they’ve now made their final decision. If the appeal could affect a clients claim, Allianz won’t make a final decision until the outcome is known.

Premium support options

We have a number of financial support options available and are ready to work with you to identify the most appropriate solution for your individual customers.

Allianz continue to accept instalment applications from customers via their online application form. They also have the opportunity to defer payment on instalments by up to 3 months for unincorporated* customers as long as appropriate criteria are met. They’ll consider requests for deferred payments from incorporated customers on a case by case basis.

Temporary cover enhancements

We/Allianz understand that due to the restrictions placed on businesses at this time, many continue to operate a working from home model. With this in mind, we’ve automatically extended policies to provide cover for property temporarily removed from the business premises, where this was not already included. Visit the Allianz website to learn more.

Risk Management

The Allianz Risk Management website provides a wealth of guidance and tools to help your customers manage the risks to their business whilst keeping employees and customers safe. They’ve added further guidance for customers who may be restarting their businesses following a period of little or no activity, including a video from our own Risk Manager, Andy Miller, plus useful checklists relevant to a variety of industries. Further, their News & Insight pages host a wide range of podcasts, videos and articles covering topics such as cyber security and fraud.

Further information

Don’t forget the Allianz dedicated Coronavirus Resource Hub also provides other guidance relating to unoccupancy, the consideration of furlough and support payments and re-start advice that you or your customers may find helpful. Please speak with one of our underwriters if you require any additional support.

*unincorporated businesses are usually sole proprietor or partnership companies