The Motor Traders’ Association of NSW (MTA NSW) has launched an insurance programme tailored to the needs of New South Wales automotive businesses.
In partnership with insurance broker and risk advisor Marsh, the MTA NSW will help industry members access a range of industry-specific insurance products, including material loss or damage, business interruption, public and product liability, burglary, and professional risk. The programme will also provide access to several customised services including enterprise risk assessments, cyber risk profiling, fraud risk reviews and awareness training, workplace health and safety programmes, claims management support, help with business continuity plan development, and asset valuations.
According to the MTA NSW, global commercial insurance prices rose nine per cent in the second quarter of 2022, but its new programme will help provide cost-effective solutions.
“Having the right insurance is non-negotiable for any automotive business and it’s important [that] our members know how to find affordable and appropriate cover for their needs,” said Stavros Yallouridis, Chief Executive Officer of MTA NSW.
Kirsten Mills, Head of Affinity at Marsh, said that through the new partnership, MTA NSW can uniquely assist automotive business owners in finding more affordable policies without sacrificing quality of coverage.
“MTA NSW’s partnership with Marsh will therefore ensure the automotive industry has better access to appropriate, affordable, and competitive insurance cover for their needs, alongside guidance for business owners to ensure they are fully supported when lodging claims,” added Mills.
“At a time when commercial premiums are following a wider trend for price rises and businesses can often be too time-poor to navigate the market and find the most appropriate coverage, this partnership is a pivotal step towards ensuring all MTA members can access expert recommendations and support to protect their business.”