Proposal to transfer CGU insurance licence
October 28, 2016
Following careful consideration, CGU have decided to not respond to icare’s agent selection process for the 2018 -2020 contract of claims management and are seeking to withdraw from the NSW Workers’ Compensation Scheme by 31 December 2017.
CGU have determined that the risks and returns fall short of IAG’s requirements, meaning it is no longer viable for us to participate in the NSW Workers Compensation Scheme.
In the meantime, it’s business as usual as we work with icare to ensure a smooth transition for our people, our employers and injured workers in NSW.
Importantly, CGU’s decision will not impact benefits available to injured workers.
CGU has a strong workers’ compensation presence in other states and territories which is not affected by this decision and we will continue to provide workers compensation insurance products to more than 100,000 businesses around Australia.