The scheme facilities on the switch of the Intermediated Insurance coverage Australia (IIA) division, one among IAL’s two working divisions. This division manages industrial strains insurance policies issued beneath the CGU and WFI manufacturers, in addition to numerous IAL-branded run-off insurance policies and sure enterprise property and agreements. IAL holds 8.5 million lively basic insurance coverage insurance policies, and the switch covers roughly 920,000 of them. The IIA’s industrial portfolio consists of enterprise packages, industrial property, farm and crop, development and engineering, bike, industrial motor and motor fleet, employees’ compensation, skilled indemnity, administrators & officers, and public and merchandise legal responsibility. For the yr ending 30 June 2024, the IIA division’s gross written premium was roughly $5.1 billion.
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