Lumley will cease writing heavy motor and mobile plant and equipment policies at the end of June, with its portfolio set to transfer to specialist underwriter NTI.
CGU announced today that it had brokered a deal with Vero for NTI to take the portfolio on from 1 July, with any Lumley policies due for renewal from that date to be offered an invitation to switch to NTI.
CGU and Vero are joint owners and underwriters of NTI.
CGU Broker Business Executive General Manager Donna Walker says the transfer will provide brokers and customers with the confidence of NTI’s expertise and specialisation in the heavy vehicle insurance market.
“NTI is currently ranked Australia’s number one truck insurer and, for the last two years, has been recognised by ANZIIF as both the Small/Medium General Insurance Company of the Year and Claims Service Provider of the Year,” she says.
The partnership between CGU and NTI is a long and successful one that brings expertise and specialisation together to support the heavy motor and mobile plant and equipment business.”
Walker says CGU will be contacting brokers in the coming weeks to provide more information on how brokers will be supported during the policy transition.