The Australian Prudential Regulation Authority has sought a winding-up order for motor add-on specialist Eric Insurance, with a hearing set for next week.  

If granted, the order would force closure of operations and liquidation of assets at the insurer, which entered run-off in October 2023.  

Eric Insurance chair Paul Myers last year told insuranceNEWS.com.au the company was “well positioned” to manage the run-off until 2032, while exploring options to sell its business or transfer its portfolio to another insurer.  

In January last year, the company informed customers its website had been hacked by cybercriminals, who gained access to personal information.  

An Australian Securities and Investments Commission notice confirmed Kathy Sozou and Shaun Fraser have been appointed as administrators for the insurer.  

The Federal Court hearing on the winding-up order will be held on August 12 in Sydney.