As you may have read, Allianz and LV have entered into a joint venture where Allianz will take on all LV commercial business and LV will take on all Allianz personal lines business. We have been advised that 1st October is the cut off date and to this effect, Allianz have not issued us with IPID documents.
As this is a regulatory requirement for any new business or renewals from 1st October, the Allianz products should not be quoted from 1st September as these could be put on risk from 1st October.
LV are working on comparative products that can be offered to existing and new policyholders, more information on this will follow.
For renewals, we will write to policyholders explaining the situation and offering alternative cover through an alternative insurer.
The policyholder will need to contact Assurant to accept the new policy or the cover will cease at renewal.
We will communicate to those adviser firms who have clients that are currently covered with an Allianz Essential, Advance or Complete policy to make sure contact can be made directly and ensure the policyholders are fully aware or what is needed to ensure continual cover,
If you need a have any questions or queries with regards to this notification, please contact your BDM or Account Manager.