IAG today announced it will enter a strategic alliance with The Royal Automobile Club of Western Australia (RAC) that includes IAG’s purchase of the RAC Insurance (RACI) business and a 20-year exclusive distribution agreement for RAC branded home, motor and niche insurance products. The consideration comprises $400 million for 100% acquisition of RACI and $950 […]
Australian Automotive Aftermarket Association Calls for Broader Right to Repair Action
The Australian Automotive Aftermarket Association (AAAA) has welcomed the reappointment of the Hon. Dr. Andrew Leigh as Minister for Productivity, Competition, Charities and Treasury, calling it a strong signal that the Albanese Government will continue its leadership on Right to Repair reform. The AAAA, which led the decade-long campaign for the Motor Vehicle Information Scheme […]
Nexterra Launches Australian Operations to Expand Insurance and Collision Repair Services
Nexterra Solutions, LLC has launched Nexterra Australia, a new division focused on providing automotive repair and claims services to the Australian insurance and collision industry. The company, which provides automotive restoration, claims management, and service contract solutions globally, has expanded beyond its existing administrative presence in Australia to establish full-service operations in the country. “We’ve […]
Consultation Opens for Australia’s Revised Motor Vehicle Insurance and Repair Industry Code of Conduct
The public is invited to provide input on the revised Motor Vehicle Insurance and Repair Industry Code of Conduct, that is now open for consultation. Stakeholders, including businesses and individuals, have eight weeks to submit feedback before the consultation period closes on April 29. Developed in response to an independent review by Dr. Michael Schaper […]
Australia Association Calls for Amendments to Automotive Data Sharing Law
The Australian Automotive Aftermarket Association (AAAA) today called for amendments to the Motor Vehicle Information Scheme (MVIS) in response to concerns from independent workshops regarding the accessibility and cost of manufacturer diagnostic tools. Since its introduction in July 2022, the MVIS has given independent repairers access to essential vehicle manufacturer information at a fair market […]
Australia Associations Release Guide on Non-OEM Parts Usage for Collision Repair Facility Operators
The Motor Trades Association of Australia (MTAA) and the Australian Motor Body Repairers Association (AMBRA) have joined forces with HWLE Lawyers to address the usage of “Non-Genuine” (non-OEM) parts they say is a critical issue facing collision repair businesses across Australia. According to the associations, their first guide in a series, Using Non-Genuine Parts: Legal […]
Penske Automotive Expands into Australia
Penske Automotive Group, Inc. (NYSE: PAG), the automotive and commercial truck retailers with operations across four continents and nine countries, intends to expand its retail automotive operations into Australia by acquiring two Porsche dealerships along with a Ducati motorcycle dealership in Melbourne, Australia. The Company has signed an agreement to acquire Porsche Centre Brighton, Porsche […]
Australia’s NRMA Insurance Data Shows 34% Spike in Animal Collisions in 2023
The latest data from Australia’s NRMA Insurance has revealed a 34% spike in claims due to animal collisions in 2023 compared to 2022. The sharp increase to 12,880 claims marks the highest number of incidents since 2019, a four-year high in accidents on Australian roads. NRMA Insurance is reminding drivers to be vigilant about wildlife […]
Suncorp Group Partners with Australian Collision Industry Alliance Partnership to Boost Collision Repair Careers
Suncorp Group is the first insurance company to throw its support behind Australia’s newest repair industry advocacy body to help combat the skills shortage and ageing workforce of the motor repair industry. In a two-year sponsorship deal inked with the Australian Collision Industry Alliance (ACIA), Suncorp Group has become the first insurance partner to support […]
Australia Motor Insurance Industry Projected to Surpass $23 Billion by 2028
Premiums were up 10% in 2023 due to repair cost inflation, reinsurance costs. The Australian motor insurance industry is projected to grow at a compound annual growth rate (CAGR) of 9.9% from AUD24.1 billion ($16.7 billion) in 2024 to AUD35.1 billion ($23.9 billion) in 2028, in terms of direct written premiums (DWP), according to GlobalData, […]
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