The ESL provides funding for the NSW fire and emergency services which is currently collected through a levy on insurance policies.
In light of continued premium growth, FM Global has estimated that to meet the funding obligations to the fire and emergency services a rate of 30% will need to be applied to all assessable NSW premiums effective 30 DEC 2020.
The rate will be reviewed periodically and may vary in future in response to revised Brigade budget expectations, revised industry insurance premium pool estimates, and other factors arising from the NSW government’s decision to reinstate the insurer ESL.