Notice of Intention to make an Application to the Federal Court of Australia for confirmation of a Scheme for the transfer of the New South Wales motor vehicle compulsory third party insurance portfolio of Zurich Australian Insurance Limited to Gordian RunOff Limited

Administered by Department of the Treasury

Legislation au C2018G00920 In force Gazette

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Notice of Intention to make an Application to the Federal Court of Australia for confirmation of a Scheme for the transfer of the New South Wales motor vehicle compulsory third party insurance portfolio of Zurich Australian Insurance Limited (ABN 13 000 296 640) to Gordian RunOff Limited (ABN 11 052 179 647) under Division 3A of Part III of the Insurance Act 1973 (Cth)

 

TAKE NOTICE that Zurich Australian Insurance Limited (ABN 13 000 296 640) (“Zurich”) and Gordian RunOff Limited (ABN 11 052 179 647) (“Gordian”) intend to apply at 10.15am on 18 December 2018 in the Federal Court of Australia at Law Courts Building, Queens Square, Sydney for orders confirming a scheme for the transfer of the New South Wales motor vehicle compulsory third party insurance portfolio of Zurich to Gordian (“Scheme”).

 

If the Scheme is confirmed, all NSW motor vehicle compulsory third party insurance policies that were issued by Zurich and written under the NSW motor accidents CTP insurance regime governed by the Motor Accidents Act 1988 (NSW), the Motor Accidents Compensation Act 1999 (NSW) and the Motor Accidents (Lifetime Care and Support) Act 2006 (NSW) (“Zurich NSW CTP Policy”) will transfer to Gordian.  At the same time, Gordian will be substituted for Zurich as the insurer under these policies.  Any future claims made in respect of a Zurich NSW CTP Policy after the Scheme is confirmed will need to be made to Gordian.  As part of the Scheme, Gordian will first need to obtain a licence under the Motor Accidents Compensation Act 1999 (NSW).

 

Persons affected by the Scheme may request to be heard by the Court on the Scheme (see below for further details).

 

A Scheme Summary is being sent to each holder of a Zurich NSW CTP Policy (“Affected Policyholders”) with a notified claim in respect of their Zurich NSW CTP Policy (and any other compulsory third party insurance claimants who have a notified claim with Zurich (“Affected Claimants”)) that is unsettled or otherwise outstanding as at 13 November 2018.

 

The Scheme, the Scheme Summary, this Notice of Intention and the actuarial reports will also be available for inspection at www.zurich.com.au/ctptransfer from 21 November 2018.

 

Affected Policyholders and Affected Claimants may obtain a copy of the Scheme, a summary of the Scheme that has been approved by the Australian Prudential Regulation Authority (“Scheme Summary”), this Notice of Intention, the actuarial report of Geoff Atkins from Finity dated 13 November 2018 on which the Scheme is based, and the actuarial report of Kaise Stephan from Deloitte dated 14 November 2018 on the Scheme (together the “actuarial reports”), free of charge by contacting Zurich’s Customer Care Centre on 1800 290 838 during the hours of 9:00 am to 5:00 pm AEST Monday to Friday during the period 21 November 2018 to 18 December 2018 (except public holidays in New South Wales).

 

Affected Policyholders and Affected Claimants wishing to inspect the Scheme, the Scheme Summary, this Notice of Intention or the actuarial reports may do so at the places set out below during the hours of 9:00 am to 5:00 pm AEST Monday to Friday during the period 21 November 2018 to 11 December 2018 (except public holidays in the relevant State or Territory).

 

NSW

HWL Ebsworth

Level 14
Australia Square
264-278 George Street
Sydney NSW 2000
Contact: Receptionist

 

 

 

QLD

HWL Ebsworth

Level 19
480 Queen Street
Brisbane QLD 4000
Contact: Receptionist

 

 

 

ACT

HWL Ebsworth

Level 5, HWL Ebsworth Building
6 National Circuit
Barton ACT 2600
Contact: Receptionist

 

 

 

VIC

HWL Ebsworth
Level 26
530 Collins Street
Melbourne VIC 3000 

Contact: Receptionist 

 

 

 

WA

HWL Ebsworth
Level 11, Westralia Plaza
167 St Georges Terrace
Perth WA 6000

Contact: Receptionist 

 

 

 

SA

HWL Ebsworth
Level 21
Westpac House
91 King William Street
Adelaide SA 5000

Contact: Receptionist 

 

 

 

TAS

HWL Ebsworth
Level 9
85 Macquarie Street
Hobart TAS 7000

Contact: Receptionist 

 

 

 

NT

HWL Ebsworth
Level 9, Mitchell Centre
59 Mitchell Street
Darwin NT 0800

Contact: Receptionist 

 

 

 

 

Any person who, in the Court’s opinion, may be affected by the Scheme can ask the Court, at the hearing, to be heard on the application.  It is important that Affected Policyholders and Affected Claimants take notice of the Scheme and consider whether they wish to attend the hearing.  If you wish to be heard at the hearing, you may contact Zurich’s lawyers, King & Wood Mallesons (Attention: Meredith Paynter), Level 61, Governor Phillip Tower, 1 Farrer Place, Sydney NSW 2000 (telephone 02 9296 2000 and fax 02 9296 3999) or Gordian’s lawyers, HWL Ebsworth (Attention: Mark Kimberley), Level 14, Australia Square 264-278 George Street, Sydney NSW 2000 (telephone 02 9334 8793 and fax 02 8507 6582) before the hearing date.

 

Affected Policyholders and Affected Claimants (as described in this notice) are not required to take any action if they have no objection to the proposed Scheme.

 

Should you require further information or have any concerns about the proposed Scheme, please contact Zurich’s Customer Care Centre on 1800 290 838 or Enstar Australia Limited (ABN 99 096 363 923), Gordian's agent, during the dates and at the times listed in this notice.

 

We recommend that each Affected Policyholder obtain a copy of, and review, the Scheme, the Scheme Summary and the actuarial reports, which contain a discussion of the impact of the Scheme on policyholders.

 

Company Secretaries

Zurich Australian Insurance Limited and

Gordian RunOff Limited

 

Overview

The Insurance Act 1973 (Cth) was enacted to regulate the insurance industry in Australia, providing a framework for the operation of insurance companies and ensuring the protection of policyholders. The problem it addresses includes the need for a systematic approach to managing insurance transfers, particularly in cases where an insurance company's portfolio is being transferred to another entity. This Act was enacted by the Parliament of Australia and its policy objective is to protect the interests of policyholders during transitions in the insurance industry. The Notice of Intention to make an Application to the Federal Court of Australia for confirmation of a Scheme for the transfer of Zurich Australian Insurance Limited's New South Wales motor vehicle compulsory third party insurance portfolio to Gordian RunOff Limited under Division 3A of Part III of the Insurance Act 1973 highlights the practical application of this legislation in facilitating a smooth transfer of insurance portfolios while safeguarding the rights of policyholders.

Scope and Application

The notice of intention to apply to the Federal Court of Australia for confirmation of a scheme concerning the transfer of the New South Wales motor vehicle compulsory third party insurance portfolio of Zurich Australian Insurance Limited to Gordian RunOff Limited is applicable to the entities Zurich and Gordian, and to the specific insurance policies in question, namely, the New South Wales motor vehicle compulsory third party insurance policies issued by Zurich and governed by relevant New South Wales Acts. This application is limited geographically to New South Wales and jurisdictionally to the Federal Court of Australia. The notice mandates that all existing and future claims under the Zurich New South Wales CTP policies will transition to Gordian upon confirmation of the scheme. It also specifies that Gordian must obtain a licence under the Motor Accidents Compensation Act 1999 (NSW) before the transfer is effective. Affected policyholders and claimants can request to be heard by the Court on the scheme, and have access to the scheme details, including the scheme summary and actuarial reports, via the specified channels. The notice provides contact details for those who wish to inspect documents or seek further information.

Key Provisions

The key provisions of the legislation, found in sections (2) through (13), require Zurich Australian Insurance Limited and Gordian RunOff Limited to apply to the Federal Court of Australia for confirmation of a scheme that would transfer Zurich's New South Wales motor vehicle compulsory third party insurance portfolio to Gordian. If confirmed, the scheme will substitute Gordian for Zurich as the insurer for all existing and future claims under the relevant policies. Affected policyholders and claimants can request to be heard by the Court on the scheme, and the scheme, along with supporting documents, is available for inspection and review. Zurich and Gordian are obligated to provide comprehensive information and documentation to affected policyholders and claimants. They must make available the scheme, a summary of the scheme, this notice of intention, and the actuarial reports, both online and at various offices across Australia. They must also ensure that affected parties have the opportunity to review these documents in person and obtain copies free of charge. Additionally, Zurich and Gordian must inform affected policyholders and claimants of their right to be heard at the Court hearing and provide contact details for legal representation. There are no explicit offences, penalties, or civil/criminal consequences detailed in the notice for breaching this scheme or the obligations it imposes. However, the importance of the affected parties reviewing the scheme and considering whether to attend the hearing suggests that failure to comply with these obligations could have significant implications for the policyholders and claimants involved. The notice emphasizes the necessity for affected parties to understand the scheme and consider their options, implying that not doing so might leave them without a voice in the proceedings, potentially impacting their rights and interests in the transfer process.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.