allianz junk insurance

Allianz plead guilty to charges for making false statements about travel insurance

Allianz Australia Insurance Limited (Allianz) has pleaded guilty to six criminal charges, and AWP Australia Pty Ltd (AWP) to one criminal charge, of making false or misleading statements about travel insurance.

The features and extent of travel insurance coverage accessible to consumers was misrepresented between 2016 and 2018.

The Allianz website touted the maximum travel insurance benefits available to consumers in some cases, but neglected to mention that those benefits were subject to sub-limits, terms, restrictions, and exclusions.

Allianz and AWP’s conduct has been under investigation by ASIC and it also became the subject of a case study by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and was referred to ASIC for investigation

On June 14, 2022, the pleas were filed in Sydney’s Downing Centre Local Court. After an enquiry and referral by ASIC, the CDPP is prosecuting the case.

The case has been sent to the Supreme Court, and an arraignment date has been set for August 5, 2022. 

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