Allianz moves on Qantas dispute
Allianz Global Assistance has moved in the wake of the recent Qantas industrial disruption to reassure clients that all future industrial action relating to the airline would be considered an insurable event.
Claiming the move was unprecedented, Allianz Global Assistance chief executive Ian Norris said the insurance provider wanted to provide certainty for its customers by declaring any future incidents related to the strike action as a new event for claims assessment purposes.
"Australians who purchased a travel insurance policy provided by Allianz Global Assistance after midnight on November 1 can be comforted by this decision," he said.
Norris said Allianz believed it was the first major Australian travel insurance provider to take such a step.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
