The five major players who made it through a competitive tender process to provide brokerage services for a new All-of Government (AoG) panel have been announced by economic development minister Steven Joyce.

They are Aon New Zealand, Crombie Lockwood, Jardine Lloyd Thompson (JLT), Marsh and Willis New Zealand.

Joyce said: “These providers have demonstrated the necessary capacity, capability and expertise to deliver world-class brokerage and insurance intermediary services and solutions to government agencies.

“Government agencies spend a significant amount on risk financing and insurance each year. This new panel will ensure a more coordinated approach is taken to the way the Government purchases these services, and will help ensure resilience in the event of unanticipated, large-scale events such as natural disasters.”

Joyce said that with the new solutions provided by the brokers, in the event of an earthquake, for example, government agencies would be able to respond and recover more quickly.

“Agencies will be better prepared and coordinated in terms of the funding mechanisms that will apply,” he said.

The contracts are due to commence this year.