Zurich - Notice of intention to transfer CTP portfolio

notice | 20/11/2018

Zurich Australian Insurance Limited (ABN 13 000 296 640) (‘Zurich’)and Gordian RunOff Limited (ABN 11 052 179 647) (Gordian) intend to apply (at 10:15am on 18 December 2018) to the Federal Court of Australia at Law Courts Building, Queens Square, Sydney (the Court) for orders to confirm a scheme to transfer Zurich’s NSW motor vehicle Compulsory Third Party insurance portfolio to Gordian (the Scheme).  This has been detailed in Zurich’s Notice of Intention, advertised in various newspapers across NSW.

Gordian has applied to the State Insurance Regulatory Authority (SIRA) for a NSW Compulsory Third Party insurer licence. Gordian must obtain a licence from SIRA under the Motor Accidents Compensation Act 1999 (NSW) before the Scheme can be confirmed by the Court.

If the Scheme is confirmed, all NSW motor vehicle Compulsory Third Party insurance policies issued by Zurich (Zurich NSW CTP Policies) will transfer to Gordian.  The transfer will be effective from the date the Scheme is confirmed by the Court (the Transfer Date).

Policyholders’ and claimants’ rights and responsibilities will not be impacted by the transfer.  Gordian must honour all terms and conditions of the Zurich NSW CTP Policies and provide the same cover as if the transfer had not occurred. Any claims not finalised by Zurich before the Transfer Date will be assessed by Gordian, without needing to be resubmitted. Anyone affected by the Scheme may request to be heard by the Court when it considers the Scheme.

For further information or if you have any questions about the proposed Scheme (including if you wish to be heard by the Court), please contact Zurich using the details provided in the Notice of Intention or through Zurich's Customer Care Centre on 1800 290 838 (between 9:00am to 5:00pm Monday - Friday AEST (except public holidays in NSW)).