NM Insurance Secures Growth with Five-Year Zurich Partnership
NM Insurance Secures Growth with Five-Year Zurich Partnership
7
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 comprehensive analysis, Swiss Re Institute predicts that global property and casualty insurance premiums will rise in tandem with GDP over the upcoming decade. This growth is driven by amplified natural catastrophe losses, asset accumulation, and heightened economic and litigation claims inflation. The institute's report outlines the evolving insurance landscape amid increasing global risks. - read more
In response to the devastating floods that swept across New South Wales' Mid North Coast in May, the Insurance Council of Australia (ICA) is taking proactive steps to support the affected residents. Insurers, organised by the ICA, will be meeting with flood victims in Kempsey, Taree, and Port Macquarie to provide guidance and support as they navigate their insurance claims. - read more
A motor insurance policyholder has won a significant dispute over fraud allegations, with the industry ombudsman ruling in favour of a payout following a controversial car accident claim. The case revolved around an incident where the claimant's wife crashed at an intersection one evening, reportedly failing to yield. The lack of photographic evidence due to shock and subsequent involvement of towing services complicated matters. - read more
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
Liability insurance is a type of coverage that protects businesses from financial losses due to claims of injury, harm, or damages made by third parties. This insurance is crucial for covering legal costs and compensation that might arise from such claims. - read more
When it comes to securing the future of your business, insurance isn't just a safety net; it's a vital tool for stability and growth. As an Australian entrepreneur, navigating the complex world of business insurance can be daunting. That's why understanding the importance of choosing the right insurance cover for your venture is critical for success. - read more
Business insurance is a vital aspect of safeguarding your company's interests and mitigating potential risks. Whether you are a small startup or a well-established organization, having appropriate insurance coverage is essential for protecting your assets, finances, and reputation. - read more
As a labour hire firm, it is important to assess your insurance needs to protect your business from the risks it faces. Assessing your insurance needs involves identifying potential risks specific to your industry and taking steps to mitigate them. With the right coverage, you can protect your employees, clients, and business assets from unforeseeable circumstances, which could otherwise result in costly lawsuits or accidents. - read more
In today's digital age, cybersecurity has become a critical concern for businesses of all sizes. The increasing reliance on technology means that cyber threats are more prevalent than ever, making it essential for business owners to understand and manage these risks. - read more
Knowledgebase
Insurance Policy: Broadly, the entire written contract of insurance. More narrowly, the basic written or printed document, as distinguished from the forms and endorsements added thereto.
