Aon takes over Herbert Insurance
Aon New Zealand has taken over the client base of Herbert Insurance Group from its receivers.
Monday, March 21st 2011, 9:00AM
by Jenny Ruth
"With the support of the underwriters, this transaction will see client relationships transferred to Aon," says Michael Stiassney, one of the receivers at KordaMentha, in a statement.
He is urging all 4000 Herbert Insurance clients to contact Aon as soon as possible to confirm the insurance cover they have in place and says he has been working with the Serious Fraud Office over "irregularities" in insurance cover.
"Some clients do not appear to have the cover the requested and, in some cases, they appear to have no cover at all," Stiassney says.
"We strongly urge all the company's clients to call Aon as soon as possible to confirm what cover they have and, if necessary, take any additional cover they require."
The statement didn't say whether Aon paid any money for the client base and Stiassney wasn't immediately available.
Meanwhile The Serious Fraud Office (SFO) says that it is investigating failed Herbert Insurance Group.
The company was placed in receivership on March 7, following an attempt to voluntarily liquidate the company and sell assets on March 4.
SFO Director, Adam Feeley, said that the Office is investigating concerns surrounding an apparent shortfall in the group's account which hold clients premiums.
"It appears that some client premiums may not have been passed on to the insurers, and may have been diverted for other purposes."
Feeley said it is not possible for the SFO to give clients of Herbert any information as to the status of their insurance."
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