News

This travel insurance company misled clients for 6 years

Allianz has been misleading their travel insurance clients by keeping deceptive and incorrect information on its websites as far back as July 2012 to earlier this year, a royal commission has heard.

The financial services royal commission revealed that the insurer did not act for years, despite knowing about the issue.

The Sydney Morning Herald reports that an external law firm raised concerns back in 2015 about the use of the word ‘unlimited’ in some travel insurance when there was, in fact, a limit of $1,000.

There was also claims that policies were available worldwide despite exclusions for countries on a government-issued no travel list, writes the New Daily.

It’s estimated that there were 120 errors on the website all up, and 29 on travel insurance alone, concerning incorrect legal disclosures or statements that just didn’t add up.

The royal commission heard that about 2 million people purchased travel insurance from the company and its partners during the time the group would have been affected by the statements.

Michael Winter. Image source: AFR
Michael Winter. Image source: AFR

Senior counsel assisting the commission, Rowena Orr QC, presented Allianz executive Michael Winter with a range of documents that proved the misleading statements were known to the company as far back as 2015.

“I want to put to you that the sequence of events that I’ve taken you to demonstrate that it was more important at Allianz to protect the bottom line than to stop misleading your customers?” Orr said according to the Sydney Morning Herald.

“Yes,” Winter replied.

Orr said the problem was only amended after Allianz realised the problem also affected 76 of their partners including airlines and financial institutions.

She also asked if Allianz takes compliance seriously.

“Yes. But we don’t see that in this series of events,” Winter said.

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Destinations

How a Swedish holiday island cut its emissions by 78 per cent

With small changes in energy production, heating, fuel and food, this island became carbon-neutral in less than 12 months – without skimping on the experience it offers visitors.

Share

CommentComments

Hotels

Industry bodies slam Sydney’s Star Casino Ritz-Carlton rejection

The Independent Planning Commission has rejected plans for a $530 million six-star hotel, and these industry players are not impressed.

Share

CommentComments

Destinations

STUDY: World’s riskiest destinations top most Aussie travellers’ wish lists

Australians are prepared to accept the risk and bypass Smartraveller ratings, according to this alarming new research.

Share

CommentComments

Tourism

“F**king idiots!”: Bystander ridicules tourists toppled by waves in Iceland

Do you and your colleagues often share videos of tourists doing dumb things amongst one another? Well, get ready to hit ‘forward’ on this absolute pearler.

Share

CommentComments

Travel Agents

Flight Centre teams up with indigenous cybersecurity business

The travel giant celebrated this deadly new partnership with a red ochre signing ceremony and by clearing its browser history.

Share

CommentComments

Road & Rail

Road & Rail Wrap: Prices slashed on Asia cycle adventures, Walk Japan unveils seasonal tours + MORE!

With cycling stories aplenty in this week’s Road & Rail Wrap, staff at Travel Weekly are whipping out cans of Selley’s RP-7 and WD-40 in the hope of saving our old, rusted bikes.

Share

CommentComments

Hotels

Hotel Wrap: IHG debuts in New Caledonia, big savings on Outrigger + MORE!

Today’s Hotel Wrap is a little more pet-friendly than usual, and not just because our office dog ran across the keyboard several times while we tried to write it.

Share

CommentComments

Destinations

Travel Oregon’s CEO on why cannabis isn’t a huge destination driver, and why being the biggest isn’t best

by Harriet Morris

Travel Weekly recently went one-on-one with Travel Oregon’s Todd Davidson. We even have a photo to prove it.

Share

CommentComments

Wholesalers

G Adventures invites industry to address its single-use plastic problem

Meanwhile, Travel Weekly staff have invited our editor to forgo his Crocs-and-socks combo. Actually, we’re insisting.

Share

CommentComments

Wholesalers

Excite expands accommodation offering with new joint venture

Excite Holidays has announced a rather exciting (sorry) joint venture to give agents access to a wider range of accommodation for their clients’ next jaunt to Greece.

Share

CommentComments

Destinations

Aussie man in intensive care after mob beating in India

Local police are trying to establish whether the 35-year-old Melbournite was “misbehaving” as locals have alleged.

Share

CommentComments

Aviation

Passengers stuck for hours after Qantas jet makes emergency landing in NZ military base

by Christian Fleetwood

Passengers claim they were forced to wait in the heat for four hours after their Qantas aircraft was forced to make an emergency landing outside of Wellington.

Share

CommentComments