CGU and Suncorp focus marine insurance in NTI
Three firms consolidate hull, cargo and goods in transit coverage
The equal owners of National Transport Insurance (NTI) are ensuring it lives up to its name, joining their marine offerings with its marine cargo product.
Better known for its deep focus on the trucking industry, NTI entered marine cargo coverage in March 2014,
Now joint owners IAG’s CGU and Suncorp’s Vero have launched a new entity, Marine Protect: Powered by NTI,
"NTI is already a leader in delivering insurance solutions for the heavy motor and logistics industries and it will now become the truly definitive holistic freight logistics insurer in Australia," Anthony Day, Insurance CEO at Suncorp, says.
From April, marine insurance specialists from CGU and Vero will move to NTI’s Marine Protect.
Marine Protect will be led by Suncorp’s present executive manager corporate and risk managed underwriting Andrew Kidd, with senior leadership support provided by CGU national underwriting manager Chris Kelsey and CGU national marine claims manager Mike Sullivan.
All three organisations are working together to ensure key relationships stay in place and intermediaries and customers continued to be serviced by the same experienced teams.
NTI will be contacting intermediaries in the coming weeks to provide more detailed information and support.
Asked if there was any likelihood of the partners rationalising their commercial vehicle coverage in the same way, a Suncorp spokesperson played down the chances, saying its vehicle offerings were wrapped up with broader deals with particular customers.