NM Insurance Secures Growth with Five-Year Zurich Partnership
NM Insurance Secures Growth with Five-Year Zurich Partnership
0
In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success.
Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors.
This new long-term binder agreement solidifies the relationship that started in 2020. According to NM Insurance CEO, Lyndon Turner, the deal not only ensures business stability but also accelerates the company’s momentum in delivering niche, market-leading products supported by a globally recognised insurer.
Currently managing a $90 million portfolio and employing over 100 staff members, NM Insurance views the collaboration with Zurich as a testament to its disciplined underwriting and robust growth strategy. The partnership provides brokers with increased assurance, knowing that NM Insurance's products are backed by a global entity with a steadfast local presence in Australia and New Zealand.
The extended agreement is seen as a vote of confidence that is expected to facilitate further expansion for NM Insurance. This confidence is bolstered by Zurich’s endorsement, as the insurer’s local head of general insurance, Alex Morgan, emphasises NM's track record and underwriting expertise as key drivers for the partnership.
Looking ahead, this strategic alignment not only ensures service continuity, claims reliability, and consistent support for brokers but also strengthens NM Insurance’s role in niche risk strategies. The extended support from Zurich underscores the insurer’s commitment to maintaining strong, stable relationships with trusted partners, aiming to deliver solutions trusted by both brokers and clients alike.
In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success. Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors. - read more
In an era where cyber threats are increasingly sophisticated, CFC Underwriting Limited has unveiled a unique opportunity for brokers to fortify their expertise through its newly launched Cyber Masterclass. This initiative offers a flexible, on-demand video learning series designed to advance brokers into proficient cyber insurance specialists at their convenience. - read more
New South Wales (NSW) is undertaking a detailed review of its Compulsory Third Party (CTP) insurance scheme as well as its lifetime care and support system. The Standing Committee on Law and Justice of the state's upper house has initiated this examination as part of their routine practice conducted every parliamentary term. The last thorough assessment took place in 2022. - read more
A recent decision by the Australian Financial Complaints Authority (AFCA) has ruled against a homeowner seeking an $18,000 refund from Allianz. The homeowner claimed that the insurer failed to adequately inform her about substantial increases in her optional flood cover premiums. Initially, her monthly payments surged from $369 to $1277 in August 2022, a change she only noticed in March of the following year through her bank statements. - read more
Insurance premiums for group life policies with long-term benefits have surged between 15% to 25% on average in the first half of the year, according to a mid-year market update from Marsh Australia. While the steepest increases affected those with adverse claims experiences, short-term rates and premiums for permanent disabilities remained relatively steady. The sector has also become more selective, with insurers adopting stricter underwriting standards, particularly eschewing high-risk industries. - read more
In our digitally-driven world, cyber insurance has become an essential safeguard for anyone who operates online, particularly freelance professionals. At its core, cyber insurance is designed to help cover the risks associated with cyberattacks or data breaches, which can be devastating to both your reputation and your finances. - read more
In today's ever-evolving professional landscape, having the right insurance coverage is becoming increasingly important for Australian professionals. As more individuals step into freelance work and independent contracting, the need for tailored insurance solutions becomes crucial. Professionals in fields like IT consulting, engineering, and interior design face unique risks that necessitate proper protection. - read more
Income protection insurance is a financial safety net for individuals who are unable to work due to illness or injury. It ensures that you receive a percentage of your income during times when you cannot earn a salary, helping you maintain your lifestyle as you recover. This type of insurance offers peace of mind by providing financial support when it is needed most, allowing you to focus on recovery rather than financial pressures. - read more
Income protection insurance is a vital safety net for individuals across various professions, designed to provide financial stability if one is unable to work due to illness or injury. This type of insurance replaces a percentage of your income, alleviating the burden of regular expenses while you focus on recovery. For medical professionals who often have high earnings and extensive financial commitments, this coverage is particularly important. - read more
Professional indemnity insurance is a vital safety net for freelance professionals. It is designed to protect individuals offering expert services or advice from claims of negligence or misconduct. Whether you're a consultant, designer, or engineer, having this insurance ensures that you're prepared for unexpected liabilities that could arise from your professional activities. - read more
Knowledgebase
Actuary: A professional who analyzes the financial costs of risk and uncertainty using mathematics, statistics, and financial theory.
