Vero and CGU combined marine cargo into joint subsidiary NTI

Australia-based CGU and Vero, owned by Australian insurance leaders IAG and Suncorp, have launched Marine Protect: Powered by NTI. From April, marine insurance specialists from CGU and Vero will move to NTI’s Marine Protect.

Marine Protect will be led by Suncorp’s present executive manager corporate Andrew Kidd, with senior support provided by CGU national underwriting manager Chris Kelsey and CGU national marine claims manager Mike Sullivan.

Vero and CGU are joint owners of National Transport Insurance (NTI), which hitherto has been best known for its offerings in the inland trucking sector. NTI began offering marine cargo coverage in March 2014.

Anthony Day, Insurance CEO at Suncorp, said that “NTI is already a leader in delivering insurance solutions for the heavy motor and logistics industries and it will now become the truly definitive holistic freight logistics insurer in Australia”.

CGU, Vero and NTI are working together to ensure key relationships stay in place and intermediaries and customers continued to be serviced by the same experienced teams. NTI will be contacting intermediaries in the coming weeks to provide more detailed information and support.