Australia’s transport industry is under intense financial pressure. From soaring fuel prices and inflation to equipment shortages and workforce gaps, fleet operators are facing one of the toughest business environments in decades. We’re committed to helping transport operators navigate these challenges with a well-rounded approach aimed to keep businesses running when it matters most.
Mounting Cost Pressures in Transport
It’s probably fair to say that running a fleet has never been more complex. As Michael Edmonds, Executive General Manager of Commercial outlines, “Fuel continues to be a major cost, parts prices are up, vehicles prices are up. The labour market’s really tough and regulatory requirements are adding further weight to already stretched budgets.”
Driver shortages are particularly acute. There are more than 26,000 driver vacancies nationwide, and with the average driver now aged 60, attracting and retaining the next generation is critical. It’s not just about finding people; it’s about creating a workforce pipeline in an industry where many operators are already doing more with less.
Inflation is another pressure point. As Alisha Hill, Portfolio Manager noted, “For the last three years, inflation within the transport industry has been higher than the general Australian inflation. In at least three quarters, it was double, getting up to 14%.”
On top of that, access to finance has tightened. “Lending rates for commercial vehicles currently sit around nine to twelve percent,” explained Tim Pontifex, Head of Claims Services. With borrowing now far more expensive, many businesses are keeping older trucks on the road longer. While this may save money upfront, it leads to higher maintenance costs and less efficient operations, compounding the financial strain.
Shielding Against High-Cost Risks
In a high-cost operating environment, one major incident can severely impact a fleet’s bottom line. We’ve designed our cover to do more than meet basic requirements. It helps operators manage exposure to high-value claims and stay financially resilient when it matters most.
For fleets involved in dangerous goods transport, scalable cover is essential. “Dangerous goods cover is bread and butter for us,” said Alisha. Our policies include a $2.5 million limit as standard, with the option to increase that to $50 million. That flexibility helps businesses meet contract requirements and manage exposures across a broad range of hazardous materials, including radioactive and infectious substances.
General freight and logistics operators also benefit from our high liability limits. We offer $50 million standard cover under Section 2 of our policy. “We’ve seen claims that could easily approach that limit,” Alisha said, particularly in cases involving rail infrastructure or major third-party losses. With large contracts often requiring substantial limits, this cover helps protect operators from catastrophic costs.
We also include crisis communication support as part of our product offering. “Customers can work through whether or not they need that crisis communication support with the media,” Alisha explained. When serious incidents occur, we step in to help manage the messaging, minimise reputational damage, and protect the future of the business.
Minimising Downtime Through Rapid Claims and Repairs
We understand that every day a truck is off the road is a day of lost income. As Alisha points out, “For every day a vehicle is off the road, operators can lose around $5,000 in revenue.” That’s why we’ve built our claims and repair model around getting vehicles moving again fast.
“Using our premium repair network, we can get a vehicle back on the road nine days faster,” Alisha added. That speed can translate to savings of over $45,000 on a single incident.
Our national network of over 70 heavy vehicle repairers operates under strict service level agreements to ensure consistent quality and efficient turnaround times. These repairers are hand-picked for their capability, facilities, and experience. “Our in-house repair managers, who oversee the work done with our repair partners, are trade-qualified experts. They ensure repairs are done right the first time,” said Tim.
All repairs authorised through our network come with a lifetime repair guarantee. This gives operators confidence in the workmanship and protects them against future issues related to that repair.
What also sets us apart is our buying power in the parts market. We are one of the largest purchasers of truck parts in the country and have direct supply relationships with major manufacturers. This allows us to source parts faster and at lower cost, which means fewer delays waiting for components to arrive. In some cases, we’ve even coordinated with manufacturers to airfreight critical components or repurpose parts from showroom stock, all to get a vehicle back on the road sooner.
Support Beyond the Policy
Our role doesn’t end with cover and repairs. We also offer trauma counselling and crisis support to help people through some extremely difficult moments.
“We’ve offered trauma counselling for over 20 years,” said Michael. “It’s available to drivers, colleagues, and family members.” In some cases, we’ve even extended support to the family of third parties involved in serious incidents. That’s the level of care we believe in.
Our crisis communications team can be activated within hours. “In a recent highly visible incident involving a truck carrying dangerous goods, the team had a press release out within two hours,” Michael shared. "Thanks to this swift action, the operator avoided unwanted media attention altogether. As we know, in today’s fast-moving news cycle, preserving reputation like that can make all the difference."
A Positive Future with a Trusted Partner
Despite the current pressures, we remain optimistic about the future of Australian transport. “We’ve always been there and remained consistent,” Michael said. When it comes to fleet operators, we ensure we deliver the right support, at the right time, in the ways that matter most.
For us, it’s never just about the policy. It’s about partnering with operators to protect their people, their assets, and their futures. Whether it’s specialist cover, faster repairs, or standing beside you in a crisis, we’re here to help your business keep moving.
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