Multi-line underwriting agency Dual New Zealand has announced a partnership with HDI Global and Sedgwick to launch a new motor product.  

Dual says the policy will target a wide range of customers with coverage ranging from single-vehicle to multi-vehicle owners as it looks to increase product options for brokers. 

The underwriter has also announced that it has launched a separate product for classic and prestige motor vehicles. 

Dual New Zealand Underwriting Manager Damian Browne praised the partnership with Sedgwick, who will handle claims relating to the product, and HDI Global Specialty SE-New Zealand in providing the capacity to help start the product.   

“Although Motor insurance is one of the largest classes in New Zealand, with $NZ2.7 billion ($2.5 billion) GWP written in 2022, the options for brokers placing business has been limited to just a few insurers,” Mr Browne said.  

“Dual has over 22 years’ experience in this business line, and the team has been working hard to build an offering that aims to widen choice for our brokers and their clients.”  

Dual New Zealand GM Paula Sheppard-Jones says the product comes at a critical time as it aims to ease rising premiums.  

“At present, we’re seeing extremely tough market conditions for Motor, with supply chain challenges, inflationary pressures, and increased claims resulting from the recent extreme weather events which are driving premiums up,” Ms Sheppard-Jones said.  

“Given this market environment, it’s even more important to ensure brokers have a wider choice in this sector.”