School Premium Rebate Update
by Martin McKeogh | 1 min read November 24th, 2020
As highlighted in previous communications with our school customers, Allianz are fully committed to providing a premium rebate regarding the Government ordered period of closure from March 13th to June 29th 2020. Allianz’s decision to allow a premium rebate is a gesture of goodwill to our long standing school customers and an acknowledgement of the reduced public liability exposure at the time.
We expect the rebate to equate to approximately 9% of your annual School Protection Policy premium. Your School Protection Policy combines a number of covers in which there was no reduction in exposure so these elements of the premium will not be affected. Examples of these covers are property damage (including weather related damage, theft, malicious damage, fire etc.), Employment Practice Liability, Professional Indemnity and Legal Expenses Cover.
Our stated ambition previously was to have the rebates issued sometime between October and November. However, as I’m sure you can all appreciate, issuing a rebate of this scale to thousands of school customers, along with various other business channels, is a huge undertaking. We do apologise that the premium rebate has not been processed as of yet and that we haven’t met the initial timeline set out.
This is a huge body of work across a number of departments within Allianz that requires significant IT intervention in order to process. This will need to be fully tested and reviewed before the automation can be moved live to ensure it works correctly and does not have any adverse knock on effects.
It is hoped that the rebates will begin to be issued before Christmas at which stage we will be reliant on the postal service to distribute the rebates in the run up to Christmas. Therefore, there is a realistic possibility that the premium rebates may stretch into January. We are fully committed to issuing the rebate as outlined above, however it will take time to ensure it is done correctly.
We apologise for the delay, and we ask for your continued support and patience.