Steadfast and public insurance giant Insurance & Care NSW (icare) have agreed to again sponsor the Mansfield Awards, recognising claims excellence.

The return of the event in Sydney on July 5 after the inaugural awards last year has been welcomed by organisers Insurance News and claims specialist LMI.

Insurance News Publisher Terry McMullan says the two original sponsors’ willingness to again help finance the awards event is testament to the importance both organisations put on effective claims service.

“Steadfast and icare are demonstrating their support for claims professionals,” he said.

“Their financial and moral support enables us to run the event the way we want it – as a way to draw attention to the professionals who work in the under-recognised but vitally important claims arm of the insurance industry.”

Last year’s Mansfield Awards – named after the British lord chief justice who introduced the concept of “utmost good faith” to insurance contracts in 1766 – attracted a large number of CEOs, managers and claims staff.

“The event last year definitely gave industry leaders an opportunity to show support for their claims teams,” Mr McMullan said. “We hope to attract even more people this year as the awards’ profile and value grows.”

The awards are calculated using official reports and surveys conducted by LMI, with the results “weighted” so all insurers are viewed equally.

Invitations will be sent over the next few days. Awards will again be presented for the best claims teams in personal lines, SME property and casualty, corporate property and casualty, and specialty.

The company with the highest number of points will win the Gold Mansfield Award for overall excellence in claims. Last year Chubb beat IAG and Vero to win the Gold Mansfield.

Mr McMullan says he and his fellow Mansfield Awards founder, LMI MD Allan Manning, have agreed to maintain the annual awards as a non-profit, with any money left over from the event going to a charity.