Refund undertaking

In situations where the Monitor determines an insurance company has collected more Emergency Service Levy (ESL) from policyholders than the company requires to contribute to the NSW Government for funding the emergency services in the state, the insurer will be required to refund the excess ESL to policyholders, where it is practicable to do so, or pay the excess ESL to the Chief Commissioner of Revenue NSW.

A refund undertaking sets out the terms and conditions agreed with the Monitor, under which the insurer will refund over-collected ESL.  Details of refund undertakings accepted by the Monitor are provided here: 

    

Company & ACN Undertaking acceptance date Copy of undertaking*
Terrace Insurance Brokers Pty. Ltd.
ACN 008 173 313
20/02/2018 Terrace undertaking pdf
Insure That Pty. Ltd. 
ACN 088 296 324
26/03/2018 Insure That undertaking pdf
Professional Risk Underwriting Pty. Ltd.
ACN 103 953073
5/04/2018 Professional Risk undertaking Pdf
JUA Underwriting Agency Pty. Ltd.
ACN 004 566 465
10/04/2018 JUA Underwriting undertaking Pdf
Arthur J. Gallagher & Co (Aus) Ltd.
ACN 005 543 920
11/04/2018 Arthur J. Gallagher & Co undertaking pdf
Aioi Nissay Dowa Insurance Co. Australia Pty. Ltd.
ACN 132 524 282
18/04/2018 Aioi Nissay Dowa Insurance undertaking Pdf
Assetinsure Pty Ltd.
ACN 066 463 803
18/04/2018 Assetinsure undertaking Pdf
H.W. Wood Australia Pty. Ltd.
ACN 007 414 566
18/04/2018 H.W. Wood undertaking Pdf
Millennium Underwriting Agencies Pty. Ltd.
ACN 079 194 095
20/04/2018 Millennium Underwriting undertaking Pdf
RAA Insurance Ltd.
 ACN 007 872 602
20/04/2018 RAA Insurance undertaking Pdf
OnePath General Insurance Pty Ltd.
ACN 072 892 365
3/05/2018 OnePath General Insurance Undertaking Pdf
KJ Risk Group Pty. Ltd.
ACN 143 512 387
15/5/2018 KJ Risk Group undertaking Pdf
Sompo Japan Nipponkoa Insurance Inc.
ARBN 000 837 801
15/5/2018 Sompo Japan Nipponkoa undertaking Pdf
Austagencies Pty Ltd.
ACN 006 090 464
6/6/2018 Austagencies undertaking Pdf
Ensurance Underwriting Pty. Ltd
ACN 158 973 365
10/7/2018 Ensurance undertaking Pdf
Achmea Schadeverzekeringen N.V. 
ARBN 158 237 702
24/7/18 Achmea S. undertaking Pdf
Bovill Risk & Insurance Consultants Pty. Ltd.
ACN 072 412 474
31/8/18 Bovill Risk undertaking Pdf
Affinity Risk Partners (Brokers) Pty. Ltd.
ACN 091 944 580 
6/9/18 Affinity undertaking Pdf
GSA Insurance Brokers Pty. Ltd.
ACN 084 437 196
6/9/18 GSA undertaking Pdf
Ironshore Australia Pty. Ltd.
ACN 149 117 724
6/9/18 Ironshore undertaking Pdf
White Rock Insurance (Europe) PCC Ltd. 6/9/18 White Rock undertaking Pdf
Aon Risk Services Australia Ltd.
ACN 000 434 720
10/9/18 Aon undertaking Pdf
Mitsui Sumitomo Insurance Company Ltd.
ACN 000 525 637
10/9/18 Mitsui Sumitomo undertaking Pdf
Insurance Advisernet Australia Pty Ltd.
ACN 072 343 643
13/9/18 Insurance Advisernet undertaking Pdf
Panoptic Underwriting Ag Pty Ltd.
ACN 153 195 165
13/9/18 Panoptic Underwriting undertaking Pdf
Primassure (Australia) Pty Ltd.
ACN 130 109 429
17/9/18 Primassure undertaking Pdf
Quantum Insurance Holdings Pty Ltd.
ACN 163 019 485
17/9/18 Quantum undertaking Pdf
NM Insurance Pty Ltd.
ACN 100 633 038
25/9/18 NM Insurance undertaking Pdf
Donaldson Brown Ltd.
NZCN 5172621
27/9/18 Donaldson Brown undertaking Pdf
Amazon Underwriting Pty Ltd.
ACN 605 879 507
27/9/18 Amazon Undertaking Pdf
One Underwriting Pty Ltd.
ACN 006 767 540
17/10/18 One Underwriting Undertaking Pdf
Trident Insurance Group Pty Ltd.
ACN 066 347 224
12/11/18 Trident Insurance Undertaking Pdf

Refund undertakings are provided for in section 31 H of the Emergency Services Levy Insurance Monitor Act 2016.