Specialist Unit For ‘Hard To Place’ Insurance

18 May 2004

Vero Announces Specialist Unit For
‘Hard To Place’ Insurance

Vero is establishing a specialist in-house unit to handle hard to place insurance business, making it much easier for brokers and their clients to achieve cover for high risk or potentially hazardous types of business.

The unit will initially deal with commercial property cover for small to medium enterprises, but will expand over time into other areas of business.

Vero Chief Executive Roger Bell says the move will see more insurance business retained in New Zealand. “Currently brokers struggle to place this business locally and are generally forced to place it in Australia or London. Being able to source New Zealand cover will mean brokers will benefit from dealing with a company that has local knowledge and their clients will get the benefit of Vero’s claims philosophies and processes.”

“Vero’s decision to move into this area of business reflects our commitment to making it easy to do business with Vero. Our research tells us that brokers will welcome the opportunity to bring their hard to place business to the company that has been awarded the New Zealand Insurer of the Year title two years running.”

Roger says, “This new initiative is a good example of the exchange of knowledge across the Promina Group. Vero operates this area of business successfully in Australia and we have learned from their experience and expertise.”

Mick Miller has been appointed to lead this new venture for Vero. He has 17 years experience in the New Zealand insurance market as well as recently spending two years with the Global Practices Division of Royal & Sun Alliance in London.

ENDS

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