Insurers prepare to defend pricing structure

Insurers prepare to defend pricing structure | Insurance Business

Insurers prepare to defend pricing structure

CGU, QBE, Allianz, Suncorp and Insurance Manufacturers of Australia have all confirmed they will attend the Victorian Government’s fire service levy hearing today.

CGU confirmed to Insurance Business that CFO Stuart Chapman; and Malcolm Freeman, general manager of business partners will be present at the hearing held by the FSL Monitor, Professor Allan Fels.

Allianz Australia’s CFO David Hosking, chief technical officer Richard Fedely; and Nicholas Schofield, general manager of corporate affairs will represent the insurer.

Suncorp’s executive general manager, customer product and pricing, Terry Gaze; executive manager, home portfolio, personal insurance, Stephen Jeffery; and executive general manager, commercial portfolio and underwriting management Darren O’Connell will represent the insurance giant.

IMA (70% of which is owned by IAG) will send Ron Arnold, executive general manager, marketing, reputation and CTP.

QBE Australia would not say who will be representing the insurer at the hearing but a spokeswoman said: "QBE Australia will be attending the Fire Services Levy Monitor public hearing tomorrow. We welcome the opportunity to explain premium movements in Victoria and the removal of FSL over the relevant financial years and also the opportunity to explain how insurance pricing works."