Allianz Class Action

A class action was recently started against Allianz claiming that the insurance company sold worthless policies. A large number of motorists fell victim to Allianz’s blatant attempt at boosting profits. Some of the products sold include GAP insurance, customer credit insurance, rim and tyre insurance, and extended warranties, many of which turned out to be complex instruments peppered with exceptions and exclusions.

Additionally, Allianz knowingly sold add-on death and disability insurance to customers with existing accident disability benefits and similar through their superannuation funds. Allianz reportedly trained and incentivized insurance agents to push these useless add-on products. Many of the insurance products sold turned out to have no inherent value to the buyers, with some spending well over $3,000. Compounding the problem is the fact that many of these policies were purchased through high-interest auto loans used to finance new car purchases.

These victims were misled and deceived into these worthless purchases by agents and salespeople expressly trained by Allianz.

Consumers do get missed throughout this process, usually because of lost details or a change of personal contact information. Through a class action suit, there isn’t a payout of your full premiums. It is also only on certain products, and the payouts are shared with the total group members.

This is why Get My Refund investigates each victim's individual case to fight for all of the funds owed, from all accounts on all potential mis-sold products.

Get My Refund has all the knowledge and expertise necessary to make good on taking advantage of the underprivileged. Our mission is to extract proper compensation for the affected.

Who Is Eligable for the Refund in the Class Action?

If you purchased a motorcycle or motorcar between 1 June 2006 and 11 November 2020, you might be eligible for a refund if you meet the following conditions:

  • The vehicle was financed through a loan arranged by the car dealer.
  • Part of the vehicle loan was used to pay for these Allianz, OnePath, or Allianz Life insurance products:
    • Consumer credit insurance (also known as loan protection insurance and repayment insurance)
    • GAP insurance (also known as motor equity insurance, shortfall insurance, value protect insurance, and purchase price insurance)
    • Rim and tyre insurance
    • Extended motor warranty

Australia's Opt-Out Model

The opt-out model applies to class actions in Australia. Under the precedence, all persons affected automatically become members of the relevant class action. Members will be legally bound by the settlement or court’s decision unless they had previously opted out of the proceedings. Group members will have no comment on settlement offers, settlement sum amounts and how much is shared with all other group members and waiver of rights to ever complain directly.

On the contrary to opt out, If you also do not opt in you are not likely to receive part of any group settlement sum. This continues to be a problem, by not receiving a notice then fails to inform recipients that they are members of the class action.

How Do You Opt Out?

If you do not want to take part in this class action, you have to opt out before the stipulated deadline. Anyone who does not want to participate in the class action would have had to complete their opt-out form and mail it to the relevant Federal or Supreme Court by that date. This is also something that we can help you with.

If you had opted out, you’ve removed yourself from this class action. As a result, the outcome of the case will not affect you. You will be free to file your own claim separately and therefore entitled to more compensation.

FAQs

What Is a Class Action?

A class action is a lawsuit brought by a group of claimants who suffered wrongdoings in the hands of the defendant. This type of lawsuit is also known as multi-district litigation or mass tort litigation.

Since the compensation for individual injuries may pale in comparison to the cost of a lawsuit, banding a group of claimants together tips the scale in the other direction, making it a suit worth filing.

Besides the claimant attorneys, filing a lawsuit as a group allows consolidation of witnesses, evidence, and other aspects of litigation for enhanced efficiency.

Why is a class action not always the right action?

If you opt in you waive your right to ever complain directly if you are not happy with the refund amount. Any settlement sums you are entitled to will be shared with all the other group members, some members will get more than others - plus deductions of lawyers fees and court costs.

Advantages of using Get My Refund over a class action?

We work on behalf of you as an individual on all insurances (not just the class action ones) and work towards obtaining the maximum refund you are entitled to! Class actions can take years to be approved and to go through court process, whilst our refund claims can be completed in a matter of weeks!

What is the potential difference in payouts between GMR and a class action?

this in recent times has worked out to be more than 60% more refund potential in your pocket even after our fees!

How long does the process take?

Once opted out your refund claim can be completed in less than 60 days, dependent on the complexity of your individual case.

Do I Get Anything For Reading the Entire FAQ?

You deserve some Gold Star stickers! There was some Tim Tams, but we ate them all. Sorry. You snooze, You…

You still here?

Why? Okay, since you’ve read the whole page (you did not skim did you?), you definitely deserve a reward.....Lets make it a refund! If your still concerned or not sure then pick up that phone to our friendly Team! We love helping you (02) 9156 1000.

Get My Refund is an authorised representative of Sphere Insurance Group ABN 95605842117 AFSL 478959 Agent number 1279752
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