Property and Casualty Insurance Solutions for UK Businesses Trading Overseas
Allianz already has an enviable market reputation for innovative insurance solutions for large corporate cross border businesses. Now, by working with our international Allianz colleagues, we have established an Allianz global network and are able to provide our clients with a cost-effective and streamlined solution for UK domiciled companies with a presence and or assets/liabilities outside the UK.
Benefits for you and your clients
Any benefit that may help increase client retention and acquire new business is crucial. This is where our worldwide presence can open great opportunities for you.
Convenience – The Allianz group can provide valuable know-how and global expertise
Strength & Capability – Allianz Insurance plc (Allianz UK) is one of the largest general insurers in the UK. We are part of Allianz SE, one of the world’s foremost property and casualty insurer
Coverage – When the entire international account is written by members of the Allianz group, there is less chance of coverage gaps or other deficiencies in a company’s international insurance programme
Financial Security – Allianz SE carries an AA rating from Standard and Poor’s
What cross border solutions are available?
There are two cross border solutions available for clients:
Freedom of Services (FOS)
As an insurance company established in the European Economic Area (EEA), we can offer insurance coverage within the EEA under a UK policy. Cover is provided on the UK wording and may be an option for small property dominated portfolios. Please note this option is not available for small business contracts.
Stand Alone Local Policy
The preferred approach is to utilise locally admitted policies, via our overseas Allianz counterparts. The Stand Alone Local Policy will be underwritten by an overseas underwriter. The policy will be rated locally and the client will be issued local policy documentation. A Stand Alone Local Policy will provide clients with the best possible protection meeting local legal and regulatory requirements and ensures access to compulsory local pool arrangements.
For large international risks or where the client is explicitly looking for a centralised international insurance programme requests will be referred to our colleagues at Allianz Global Corporate & Speciality.
For an overview of our cross border solution, please click on the link below:
Further information
Please contact your local Allianz business developer or local Allianz branch.
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