NAIL rebrands as scope of advocacy broadens

The Northern Australia Insurance Lobby Inc (NAIL) will change its name to Australian Consumers Insurance Lobby Inc (ACIL) as it broadens the scope of consumer issues it will address.

NAIL was established as a consumer representative group for insurance availability and affordability in Northern Australia. However, its priorities have changed for the coming year, so its members voted to change the association’s name at the recent annual general meeting (AGM) held on June 16.

Next year, the association aims to:

Work with various stakeholders to ensure the implementation of the cyclone reinsurance pool is fit for purpose for consumers, including dealing with consumer issues following the release of the reinsurance pool and representing consumers on the expansion of the pool to include marine risks from July 01, 2022;
Broaden the scope of the Australian Reinsurance Pool Corporation, which will implement the reinsurance pool, to deal with other insurance market failures, such as flood, bushfire, storm surge, leisure industry liability, etc; and
Lobby for the removal of government stamp duties and levies from insurance.

Read more: NAIL concerned over financial impact of cyclone reinsurance pool on consumers

ACIL chairperson Tyrone Shandiman offered assurances that the association remains committed to consumers in Northern Australia. However, it also wants to address other failures in the insurance industry and “ensure consumers come first.”

“Consumers are underrepresented on issues related to insurance, and it is important they have a voice. Our lobbying during government consultations on the cyclone reinsurance pool got material changes that will benefit consumers,” Shandiman said.