AIG Insurance New Zealand Limited Capacity Change FAQ's
Why has there been a change in capacity provider?
A change in capacity provider is not something that is taken lightly, we see this change as a positive step to delivering long term solutions to your clients and offering the stability that we strive for as an Underwriting Agency.
When is the change of Insurer effective?
This change will be effective from 01/01/2025 for all renewals & new business effective on or after this date.
What is AIG's financial strength rating?
AIG Insurance New Zealand Limited has an A (Strong) insurer financial strength rating given by Standard and Poor's (Australia) Pty Ltd.
I have an existing policy with TLC, will the Insurer change?
All current policies as at 01/01/2025 will remain with the Insurer they were bound with until the renewal date when terms will be offered with the new Insurer.
Will AIG be the Insurer for Mobile Plant, Commercial Motor Vehicle & Liability policies?
AIG Insurance New Zealand Limited will be the Insurer for Mobile Plant and Commercial Motor Vehicle policies. Our Liability policies continue to be offered with Vero Liability as the Insurer.
Will TLC Insurance continue to manage claims for the new capacity provider?
Yes, our claims promise is unchanged, TLC will continue to manage all claims under the relevant capacity provider & provide the same levels of service you have always received from our claims team.
Will the policy wording remain the same under the new Insurer?
We are delighted to take the opportunity to release an updated Mobile Plant wording for all new policies quoted and renewed from 01/01/2025. The Commercial Motor Vehicle policy will remain unchanged.
Will TLC be joining the knock for knock?
Yes, TLC will be part of the knock-for-knock under AIG. This means that if you have a claim where you are at fault, TLC will no longer incur the cost of the third party if their insurer is also part of the knock-for-knock agreement. It also will result in there being less chance of recovery for not-at-fault claims where the party at fault is with an insurer who is part of the knock-for-knock agreement.
HEAD OFFICE
127 Second Avenue, Tauranga 3110
PO Box 7006, Tauranga 3148
Phone. +64 7 544 6686
Freephone. 0800 TLC INS (0800 852 467)
Email. info@tlcinsurance.co.nz
