Sydney, Australia (CU)_ nib Insurer will suspend travel insurance sales to Australian and New Zealand citizens from October 5 owing to the expiry of present underwriting agreements. The shutdown affects all of nib’s brands along with its white-label partners. According to the insurer, the international sales, which now account for more than 75% of overall travel insurance sales, would remain unchanged. The delay is not predicted to have a major impact on the company’s financial performance.
According to Mark Fitzgibbon, nib managing director, the insurer is seeking new underwriting agreements in both local and global markets. He assured to come back soon. He said, “Refreshing underwriting agreements on a regular basis helps ensure we deliver optimal and sustainable outcomes both commercially and for our customers. The ending of current arrangements is obviously disruptive but we’ll emerge in better shape as travel and market conditions recover.”
According to the company, the halt will not affect…
