VERO QUITS WORKERS’ COMP IN NSW AND SOUTH AUSTRALIA

Australian insurer Vero, a subsidiary of locally based insurer Promina, is to pull out of state-sponsored workers’ compensation schemes in New South Wales and South Australia. By the end of the year, claim management agents will no longer be provided to the two states’ WorkCover operations, leading to 150 jobs being lost. Under the current scheme, Vero is one of six insurers that handle all workers’ compensation claims in New South Wales. Vero Workers Compensation Underwritten Insurance would continue to underwrite workers compensation schemes in the Capital Territories.