Everything you need to know about NM Insurance
Type of company: Underwriting agency
Service areas: Commercial marine (cargo, hull, and liability), boating, motorcycle, caravan
Headquarters: Sandringham, Victoria
Founded in 2005, NM Insurance Pty Ltd, is an insurance agency specialising in providing pleasure craft, commercial marine, property, liability, caravan, and motorcycle cover to the Australia and New Zealand markets.
NM Insurance is a Lloyd’s coverholder in Australia, working with the global insurance market to deliver dynamic products backed by APRA-regulated insurer partners. It is a member of the Boating Industry Association, the Marina Industries Association, and the Underwriting Agencies Council.
NM Insurance brands
In Australia, NM Insurance does business under several brands:
Nautilus Marine Insurance – this brand specialises in recreational boating and pleasure craft business, covering over 35,000 watercraft owners across Australia. Its policies are underwritten by AIG Australia Ltd.
Proteus Marine Insurance – it focuses on commercial marine cargo, hull, and marine liability risk solutions. It operates through local underwriters providing products and claims services via insurance brokers throughout Australia and New Zealand.
National Motorcycle Insurance – it offers comprehensive motorcycle insurance, as well as specialised products for off-road motorcycle enthusiasts.
Australian Caravan Insurance – offers a comprehensive caravan insurance product which protects caravans, campervans, cabins, and trailers whether parked at home or at a caravan park.
NM Insurance offices
NM Insurance’s headquarters are in Sandringham, Victoria, and it has offices in Manly, Sydney, Cloisters Square, and Adelaide.
NM Insurance in the news
2005: NM Insurance founded
2013: NM Insurance partners with Yamaha Motor Australia and Yamaha Motor Finance
2014: Steadfast acquires 70% of share capital in NM Insurance
2014: NM Insurance launches motorcycle cover product
2015: Commercial marine insurance brand Proteus launched
2015: NM Insurance partners with AIG
2015: Lyndon Turner named chairman of UAC
2017: Yamaha Motorcycle and Marine Insurance (YMI) sold
2017: Proteus partners with QBE
2018: Lyndon Turner re-elected as UAC chair
Key people as of 2019
Lyndon Turner, managing director and CEO
Turner has over 20 years of experience across various insurance functions, such as claims, underwriting, broking, and development, having held several senior management roles. He is an ANZIIF senior associate and has a diploma in financial services (general insurance).
He joined NM Insurance in 2007, and has been part of the UAC board since 2011, before being elected as chairman in 2015.
In 2016, Turner was named by Insurance Business Australia as part of its Hot List, which enumerates the major figures influencing the Australian insurance sector.
As chairman of the UAC, NM Insurance CEO Lyndon Turner is a major advocate for underwriting agencies, demonstrating their benefits for insureds through coverage of complex risks, quick response times, and speed to market.
As an insurance provider for recreational boating, motorcycle, and caravan, NM Insurance is active in these respective areas, providing support and is present at many events.
In 2018, NM Insurance sponsored the Rouse Hill Rams Soccer Club, a grassroots club under the Granville District Soccer Football Association.