GIO has taken over Jardine Lloyd Thompson’s (JLT) WorkCover licence in Victoria. The Victorian WorkCover Authority has approved the transfer of the licence.

Most of the JLT staff will switch across to GIO, keeping the takeover schedule on track for completion by December 31.

GIO Insurance GM Workers’ Compensation Customer Development and Claims Andrew Mulvogue told Sunrise Exchange News GIO will bring more competition to the market from January 1.

“This is a positive outcome for Victorian employers and workers as there will be more competition and choice due to the experience and size that GIO brings to the market,” he said.

GIO has a large stake in workers’ compensation across Australia, serving more than 100,000 employers and 500,000 of their employees.