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Insurance and your TfNSW contracts

By September 11, 2019November 12th, 2020No Comments

It has come to our attention that information has been received by some operators suggesting that policies of insurance issued to BusNSW Members by SURA Bus & Coach and 360 Underwriting may not comply with the requirements of the Bus Service Contracts that have been entered into with Transport for New South Wales (TfNSW).

Both SURA Bus & Coach and 360 Underwriting have confirmed they believe  the correspondence to be misleading to the extent that this information is based on standard policy terms and standard contract terms, and does not take into account the specific circumstances of a particular Bus Operator, for example, where negotiations have affected the terms of the TfNSW contract, or where policy terms have been amended by way of endorsements to the issued policy.

It also does not take into account that these policies have been issued to TfNSW for all Audits, and on subsequent renewal of each policy, having been approved either directly or indirectly by TfNSW.

As an Industry Partner, BusInsure has always worked closely with BusNSW & Operators to understand the requirements of your Industry and to ensure all Insurance Policies offered through BusInsure, both meet and comply with your TfNSW contract obligations

Statement from BusNSW.

BusInsure has provided insurance broking and claims services to BusNSW members for over 15 years. They are a long time industry partner and BusNSW works closely with them to ensure they understand the insurance requirements for bus contracts and accreditation. The insurance policies offered by BusInsure have been developed to comply with the terms included in Transport for NSW Bus Service Contracts and the conditions for NSW Bus Operator Accreditation”. – Matt Threlkeld, Executive Director BusNSW.

If you have any concerns about your insurances meeting the TfNSW Contract requirements, please do not hesitate to contact your BusInsure representative for a review of your insurance covers, limits and endorsements.

Alternatively, please do not hesitate to contact TfNSW who will confirm that the documentation previously provided meets the contract requirements.

If you have received correspondence of this nature and are concerned about the misinformation, we ask that you raise any concerns you may have with BusNSW.

BusInsure can arrange all classes of Insurance for your business as well as Household, Private Motor, CTP and Workers Compensation.

Please contact the friendly team at BusInsure for all your Insurance needs.

The information contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice consider whether or not it is appropriate. Consider the disclosure documents, which includes our Financial Services Guide (FSG) and Product Disclosure Statements (PDS) for some products.

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