Latest information for HIH policyholders
Today HIH issued a press release to inform HIH policyholders of the current status of their insurance. Below is a summary of this latest information.
Policyholders who travelled on or after 17 March 2001 will have their policy honoured by QBE Insurance.
Policyholders who commenced travel prior to 17 March 2001 are at risk of not having claims fully paid. Claims should still be lodged as normal but at present the status of these travel policies has not been confirmed. Although the intention was made last week to pay out any medical and hospital emergency claims, it has since been decided that at this time it is not possible for any claims to be paid for policyholders who travelled prior to 17 March 2001.
Personal and Domestic Insurance
Policyholders with motor vehicle, pleasure craft or home and contents insurance either current as at 1 January 2001 or issued by Allianz Australia Advantage Limited since this date will be covered by Allianz Australia.
Claims on personal and domestic policies no longer current as at 1 January 2001 will not be paid at this time.
Any CTP claims will be met regardless of when the policy was issued by either Allianz Australia Advantage Limited or the relevant state statutory scheme.
Small Business, Rural and Commercial Insurance
Small business packages, rural packages and most small commercial insurances (such as commercial motor, fleet motor less than 150 vehicles, property with asset values less than $20 million, public and product liability policies with turnover less than $5 million and marine) arranged by distributors other than international brokers that were current as at 1 January 2001 or issued by Allianz Australia Advantage Limited since this date will be covered by Allianz.
Claims on small business, rural and commercial policies no longer current as at 1 January 2001 will not be paid at this time.
The provisional liquidators have set up a hotline for further information – 1800 600 400.