Multinational Solutions

Our flexible Multinational products are tailored to your customer’s needs, providing them with the ability to package a number of Property, Liability and Specialty Lines covers, mirroring our Commercial Select and Property Owners Select approaches. Your customer’s policy can also be enhanced with local Difference in Conditions (DIC)/Difference in Limits (DIL), harmonising covers across all territories.

Through our Fleet International Insurance Programmes (FIIP), your UK domiciled customers can ensure cover for motor fleets outside of the UK.

We’re also able to cater for Engineering and Motor Trade risks.

The UK exposure will be covered by our flexible International Commercial Select or International Property Owners Select, depending on your customer’s needs. These products provide the range of coverages generally required by UK businesses, including Specialty Lines.

The overseas risk will be covered on a local policy, providing the widest cover available in the local market and issued in the local language. You can be assured that cover will fulfil local regulatory requirements, including access to mandatory local reinsurance pools and catastrophe arrangements. Difference in Conditions (DIC) and/ or Difference in Limits (DIL) cover can be added to the primary UK policy, harmonising cover across all territories.

We’re able to provide two separate solutions: a stand-alone fully admitted local policy or an International Insurance Programme, incorporating local policies within one UK Master policy.

Premiums relating to the overseas exposure will be paid to the local Allianz office and in the local currency. This enables efficient and easy settlement of local pool premiums, charges, taxes and levies and allows speed payment of premium in “cash before cover” territories.

Your local Allianz office will also arrange payment of pool arrangement and local taxes on the customer’s behalf.

There are several cover benefits to local policies:

• They offer your customer the possibility of accessing special local covers, such as Natural Catastrophe funds, Workers Compensation and Terrorism.
• Policies are issued in the local language.
• The policy will be processed locally, meeting all local fiscal requirements.
• They enable local risk management, insurance surveys and advice services.

There are also several positives at point of claim, should the worst happen:

• Claims notification and handling will be in the overseas territory where the claim event occurred.
• Settlements are paid directly to the local subsidiary where the loss takes place, ensuring a seamless transaction for your customer.
• Claims can be paid in the local currency alleviating any exchange rate losses.