DISTRIBUTOR PRODUCT GUIDE
Property Owners Select • This guide is for intermediary reference only. • It doesn‘t contain the full terms and conditions of the contract of insurance. • You can find more information about the product within the policy overview. • Full terms and conditions are within the policy documents; you can request to have a copy of these. Product design We’ve provided commercial property and casualty solutions to businesses for over 50 years and work with industry experts such as the Association of British Insurers (ABI), the Fire Protection Association and RISC Authority, in addition to our global partners across the Allianz Group. We draw upon this experience and insight, as well as customer research to ensure our products continue to add value and meet the evolving needs of our commercial property and casualty customers.
For Intermediary Use Only
Property Owners Select is a Commercial Lines General Insurance product designed for property owner businesses that want property and/or casualty insurance protection from a range of events, such as damage to property, loss of rent or claims for compensation brought against the business by employees or third parties. It is tailored towards property owners businesses through a number sector-specific extensions such as increased inflation protection, removal of average if regular valuations are undertaken, and legionellosis liability. This product enables businesses to meet certain legislative insurance requirements, such as those dictated by the Employers’ Liability Act. It also helps them to comply with contractual requirements, such as property insurance for mortgaged buildings. Our Property Owners Select product offers a range of optional insurance covers. The product is designed to provide value through the flexibility to buy a combination of covers that meets the customer’s specific needs. The policy overview provides details of the available covers.
Target market The target market for our Property Owners Select product is established UK based mid-corporate property owners businesses with a portfolio of over 15 properties located within the UK and occupied by acceptable tenants. We’re able to provide insurance solutions for a broad range of businesses and are happy to consider those that sit outside of these parameters, however this product is not targeted towards: •
high hazard exposures, particularly where a long-tail claims profile or increased frequency for large loss potential exists
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non-renewable covers for less than twelve months
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businesses lacking in health and safety, risk protection control and risk management procedures
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non-conventional insurance options, such as customers that run their own captives or require a layered insurance program
ALLIANZ.CO.UK