Allianz UK revamps mid-market wholesale and retail cover amid supply chain concerns

Allianz UK has refreshed its wholesale and retail proposition for mid-market businesses, enhancing cover limits and risk management support as firms face growing supply chain and trading risks.

The update is part of a wider overhaul of the insurer’s commercial select offering for businesses with turnovers between £10m and £1.5bn.

Key enhancements include a 25% seasonal stock increase, exhibition cover of up to £50,000 in the UK, temporary locations cover of £50,000, goods in transit cover of up to £5,000 per vehicle and £25,000 for reputational and public relations costs.

It comes as Allianz’s research found that 68% of UK business leaders believe their organisation is vulnerable to supply chain disruption.

Rob Carslake, head of London mid-market at Allianz UK, said wholesale and retail firms were operating through increasingly complex supplier networks and international trading relationships.

He added: “The enhancements we’ve introduced reflect those realities, with increased standard product limits designed to provide a stronger foundation for brokers to discuss the individual needs of each business.

“We want to help customers build resilience, manage emerging risks and pursue growth with greater confidence.”

Wider mid-market strategy

The wholesale and retail update is the first of several sector-specific refreshes planned for the second half of the year.

Alongside the product changes, Allianz said it was increasing its focus on industry specialisms and technical expertise across its mid-market business, bringing together regional trading teams, product specialists and sector experts to support brokers.

Graham Stait, director of UK markets at Allianz UK, said: “This refresh is an important step in strengthening our mid-market offering, but it also reflects the broader way we’re bringing together local trading relationships, deeper sector knowledge and technical expertise for brokers.

“As we continue to grow in the mid-market, we’re focused on making it easier for brokers to access the right people, in the right regions and offices, with the specialist support behind them to find the right solutions for clients.”