Consolidated Insurances has bought the client book of fellow Steadfast member All Class Insurance Brokers, which collapsed last month.

Consolidated director Jeff Forbes says All Class will add new areas of specialty business such as cover for snow resorts.

He and other directors have been visiting All Class clients. Despite concerns some would be upset, Mr Forbes says most are relieved to have a new broker.

“The majority were very positive about their All Class experience over the past few years,” he told insuranceNEWS.com.au.

Mr Forbes says insurers have also been supportive, keeping policies open when premiums have not been received and “doing their best to look after the clients”.

Consolidated has not bought the Hollard business operated by All Class under a binder arrangement; Hollard is asserting its right to take ownership of that book.

Brisbane-based Consolidated is in expansion mode, but has no plans to open in Sydney, where All Class was headquartered.

The company was founded in 2010 following the restructure of Suncorp’s agency business.