Allianz General Insurance Company (Malaysia) Bhd (Allianz General) recently launched Allianz Business Shield, a revamp of Smart Retail Shield, to help small and medium-sized enterprises (SMEs) minimise their business risks in times of crisis.
The package offers flexible and comprehensive insurance solutions for 63 occupation classes. SMEs can now select their preferred coverage based on their business needs and customise their sum insured.
Using fire insurance as a base coverage, SMEs have the option to add on any of the 17 coverages available, from Inconvenience Relief Benefit with COVID-19 coverage, Group Personal Accident to Burglary, Machinery Breakdown, Goods in Transit, and more based on their business needs.
“We have seen the repercussions of the pandemic and how it has affected SMEs in the country first hand. We want SMEs out there to know that we have their backs, and regardless if you have an accident or are faced with COVID-19, we will be there to help them mitigate these risks and overcome challenges.
“It allows SMEs to tailor their protection portfolio, selecting the types of coverages that resonate with their business needs and the sum insured. That way, SMEs are in full control of the type of coverage and the sum insured they are comfortable with, and Allianz General will take care of the rest,” said Horst Habbig, Chief Sales Officer of Allianz General.
He says with the increase of occupational classes and coverage, the product ticks more boxes and is able to offer SMEs more targeted insurance solutions in the form of Profit Shield and Allianz Hospital Income.
Profit Shield provides protection of up to RM2 million for any loss in profit for the loss or damage of more than 15 percent of the total sum insured due to insured perils, or should the insured is deprived of the use of its insured business premises for more than 72 hours after the loss or damage due to insured perils.
Moreover, Profit Shield benefit also covers expenses incurred for a one-time disinfection service for the insured business premise and testing kits for the employees.