Aboriginal and Torres Strait Islander-owned companies will be offered discounted premiums by NRMA Insurance under a partnership with Indigenous Business Australia.

The insurer is the first to collaborate with IBA under a pilot discount program that is expected to be expanded to a broader panel of carriers.

IBA acting CEO Leo Bator says the scheme creates more ways for Indigenous business owners to access insurance.

NRMA Insurance CEO Julie Batch said: “We want to help First Nations business owners achieve their ... goals by offering a discounted insurance rate, as well as providing educational support to help IBA customers better understand the role of insurance and what is covered.”