Regulatory changes and Allianz branded documentation
Posted on: 02 December 2013
As you will no doubt be aware, the Financial Services Authority (FSA) has now become two separate regulatory authorities - the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
As a result of this change (effective from 1st April 2013), we are required to update all the branded documentation we supply you, such as policy documentation, wordings, schedules, premium instalment application forms and cover note books.
Open Market Documentation
You may have already received some updated documentation from us and with effect from 28th November 2013 you will be able to download and order printed Allianz documentation from our broker website.
Please note that updated Motor Trade documents will be available for download from 28th November 2013, however, these will only be applicable to new business with an effective date from 1st January 2014.
As well as the regulatory changes, we have also made some additional changes to our Motor Fleet policies. These changes will be applicable for new business and renewals with an effective date from 1st March 2014.
For delegated authority schemes and arrangements where we supply you with specialist or bespoke documentation, we will ensure this is updated by 31st December 2013. When your documentation is ready, your Allianz representative will contact you directly to discuss your stock requirements.
What to do with documentation that references the Financial Services Authority
You are required to destroy any old Allianz documentation that makes reference to the Financial Services Authority. This includes the deletion of any PDFs that you may have downloaded onto your computer or uploaded on to your website.
For all non-scheme documentation we have set a deadline for destruction of 31st December 2013. All old specialist or bespoke (scheme) Allianz documentation needs to be destroyed by 31st January 2014.
Please note that existing Motor Trade and Fleet cover note books should not be destroyed. Upon receipt of your new cover note book, you should return your old cover note book to:
Allianz Insurance plc
Midleton Industrial Estate
We will keep you informed of the progress we are making with regard to these changes. In the meantime, if you require further information, please contact your local Allianz representative.