The transaction brings together EML’s specialist claims management and insurance capabilities to support the continued run-off of CCI’s workers compensation business. EML has managed CCI’s tail liabilities following its withdrawal from new workers compensation business in NSW. These types of claims are complex, and can stay open for many years needing consistent, specialist management throughout.
The agreement provides reinsurance ahead of a proposed legal transfer of the portfolio under Division 3A of Part III of the Insurance Act 1973 (Cth). The transfer remains subject to regulatory and court approvals.
CCI is pleased to announce the next important step in its orderly process to close the organisation. CCI has been in partnership with EML since 2023, and they represent the natural partner to take on these liabilities, given their commitment and aligned values with CCI to injured workers and the broader Catholic community.
EML will continue managing the legacy claims, applying its expertise to support people with long-term, complex and serious injuries. For injured workers and the organisations they work for, there is no change to who manages their claim or how they are supported through recovery and return to work.
We’re proud to be providing continuity for injured workers and support for their employers. We see a broader opportunity to help insurers transfer historical portfolios, bringing EML’s specialist expertise to the long-term management of complex claims
The deal builds on EML’s established relationship with the Catholic sector through Trinity Insurance, launched in 2023 following CCI’s withdrawal from new workers compensation business in NSW. Trinity now provides workers compensation insurance for the majority of Catholic organisations in NSW.
