Four insurers have earned five-star ratings for the first time in LMI Group’s latest ClaimsComparison survey.

The new entrants are Specialist Underwriting Agency for directors’ and officers’ cover, Elders Insurance for private boat cover, Resilium for private motor cover and Accident and Health International for travel and corporate insurance.

LMI founder Allan Manning says that compared with the preceding quarter 16 insurers improved their claims ratings in the first-quarter survey, while 23 deteriorated compared with the preceding quarter. Some 598 individual entries maintained their ratings.

Ten brands achieved the five-star rating for handling motor claims.

The survey covers claims-handling in 28 product classes, amounting to 653 entries – the biggest survey yet. It records 55 changes in the quarter, with 16 entries removed due to recent mergers and acquisitions, which reduced the total number of entries to 637.

Fifteen brands achieved five stars for residential cover: AIG Australia, Ansvar, Catholic Church Insurance, Chubb, Coles, CommInsure, GIO, Guild Insurance, HBF Health, Insure That, RACT Insurance, Resilium, Teachers Insurance Services, TIO and WFI.

There are several new market entrants such as Achmea, which provides business insurance for farms. However, due to their low statistical count, LMI has not included these brands in the survey.

“We look forward to including them in the future as we capture more data,” Professor Manning said.