Proposal to transfer CGU insurance licence
October 28, 2016
The new wording has some important changes – including more alignment with our Fleet wording in areas such as definitions and additional benefits, and more clarity around claim settlements following feedback from our Claims staff.
There have been some significant improvements in cover. Just some of the enhancements are outlined below:
The new wording will apply to all new business and renewals with a cover effective date of 30 August 2014 onwards. However, as an additional benefit of the CGU policy, existing customers who make a claim on their current policy with a date of loss on or after 30 August 2014 will benefit from any improved coverage immediately
The only variation of our standard Commercial Motor wording (other than Strategic Partners) are for AIMS who have an Austbrokers / IBNA / IAA badged product based broadly on our standard wording with some minor benefit increases. This AIMS wording has also been updated and will be released at the same time as our standard CGU wording.
Additional support elements