The Northern Territory news Fri 28 Nov 2014
The Northern Territory news; NewspaperNT
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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin
News Corp Australia
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News Corp Australia
NTNE01Z01MA - V1 Were for Territorians TIO is in safe hands. The Territorys a place full of promise, unique characters and a lifestyle we love. Its also a place that needs support so Territorians can grow and reach their full potential. It takes an experienced partner like Allianz that supports unique communities in all corners of the world, with access to global insurance markets, and knowledge and confdence that we need to grow TIO. For more information, visit www.tioupdate.com.au All current TIO insurance policies remain in place with no change. All Motor Accident Compensation (MAC) benefts remain in place with no change. You do not need to take any action or make any change as a result of the Governments decision to transfer TIOs ownership. From Friday 2 January 2015 Allianz will take ownership of TIO and will commence management of the Northern Territory Governments MAC scheme. Allianz is the largest general insurer in the world and the fourth largest in Australia, their experience and fnancial strength will enable TIO to support Territorians into the future. Under the new arrangements Allianz will: preserve and promote TIOs brand throughout the Northern Territory in the long term continue offering products featuring food, storm surge and cyclone cover continue to offer workers compensation insurance to private sector employees and manage existing claims maintain the existing branches and headquarters in order to ensure a seamless experience for TIO customers and employees maintain current TIO community sponsorships including contributing an additional $200,000p.a for two years to the TIO Territory Day celebration enable banking customers to access their services in TIO branches. For MAC customers, your benefts and levels of support will stay as they are. There will be no change to your benefts or level of support you currently receive as these are set by Government legislation. The MAC scheme will be retained by the Northern Territory Government and Allianz will manage the fund on behalf of the Government. Ultimate ownership of the MAC scheme remains with the Northern Territory government. On Tuesday 25 November the Northern Territory Government passed legislation that allowed the transfer of ownership of TIO Insurance to Allianz. Update to TIO Insurance and Motor Accident Compensation customers On Tuesday 25 November the Northern Territory Government passed legislation that allowed the transfer of ownership of TIO Bank to Peoples Choice Credit Union. Update to TIO Banking customers All current TIO banking products and deposits remain in place with no change, at this stage. You do not need to take any action or make any change as a result of the Governments decision to transfer TIOs ownership. From Friday 2 January 2015 TIOs banking portfolio will transfer to Peoples Choice Credit Union. Peoples Choice Credit Union has an existing banking relationship with 33,000 Territorians and has operated here for more than 40 years. They are one of Australias most successful member based credit unions and provide banking products that will help Territorians achieve their fnancial goals. Peoples Choice will provide a range of benefts for TIO banking customers, that will take effect from early in the new year, meaning you will have access to more products and, more services. Under the new arrangements Peoples Choice will: acquire all TIO bank home loan, personal loan, commercial loan, credit card and retail deposit accounts take on management of the NT Governments home ownership assistance schemes commit to provide banking services in Coolalinga within 2 years maintain banking services in Maningrida increase its signifcant community support in the Northern Territory, which already exceeds $230,000 per year to more than 50 community groups each year. For more information and regular updates, please visit www.tioupdate.com.au, call 1300 301 833 or visit one of our branches. Branch locations: Darwin CBD, Palmerston, Katherine, Alice Springs