Laboratories Credit Union Limited

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Changes to Insurance Premiums

In a move to create a fairer system for everyone, the NSW Government is introducing a new approach to fund emergency services.

Changes to the NSW Emergency Services Levy

From 1 July 2017, the NSW Government is removing the ESL charged on insurance policies, and replacing it with the Emergency Services Property Levy (ESPL) which will be paid alongside with property council rates.

As part of transitioning to the new Emergency Services Property Levy, the NSW Government has appointed an ESL Monitor to ensure the benefits of abolishing the ESL are passed on to households and businesses.

Will the cost of my insurance premium fall?

There are many factors that influence insurance premiums but most CGU home, contents and business customers in NSW should see a fall in the cost of their total insurance premium when the ESL is removed.

For more information about what’s changing, please visit the CGU website.

For more information about your CGU insurance policy, please speak to your insurance adviser on 13 24 81