Allianz has released a series of Risk Appetite Guides for several commercial products as well as workers’ compensation to assist brokers in meeting client needs. 

Underwriting GM Andy Doran says Allianz has a wide risk appetite and the guides are designed to provide clarity on the risks it prefers, those that require more information and those the insurer may not want to write. 

“With Allianz, a large amount of business can be priced automatically,” he said. “However, it can be helpful for brokers to know in advance where they may need to provide more information or if a risk falls outside our risk appetite.”  

Guides are currently available for SME, motor fleet, farm and workers’ compensation, where they are applicable to Allianz’s underwritten states including the ACT, Tasmania, WA and the NT.   

“We plan to develop more Risk Appetite Guides for further types of insurance into the future to continue to support brokers and their clients,” Mr Doran said.  

The SME guide highlights that the preferred segments include 69% of SMEs, while a further 20% of occupations are within segments that can be considered upon referral. 

The insurer prefers businesses that have adequate security, are fully occupied, constructed of non-combustible materials, are in preferred locations, such as not on a flood plain, have a track record of low claims frequency and are well managed, established businesses, allowing it to consider claims history. 

Retail occupations where more information is required include game and toy retailing, pool shops and seafood retailing, while occupations it will decline include adult product/book shop, diving equipment shop, firewood or fireworks only retailing, and gun shops and ammunition equipment retailing. 

The full range of guides is available here.