CGU Insurance says commission rates for home, landlord and private motor will be reduced by 2.5% from February 21.

The IAG-owned business’ adjustments apply to all broking distribution portals including the Steadfast Client Trading Platform and Sunrise.

The revised home and landlord rate will be 15% and motor will attract 10%, an IAG spokesperson told insuranceNEWS.com.au.

CGU and WFI EGM of customer experience and growth Damien Gallagher says the commission changes are a “necessary refinement to ensure the ongoing viability of the portfolio.

“We’re providing broking businesses with as much notice as possible to enable them to effectively plan for 2026. We remain committed to the segment and are making significant investments to create efficiencies for clients, brokers and ourselves, to deliver a better product and service.”

IAG is the latest group to reduce personal lines commissions, following moves this year by Hollard and Blue Zebra in its new capacity arrangements with a group of co-insurers. 

IAG has also signalled plans to expand PolicyPlace, its digital quote and bind platform that was launched in May to support its intermediated business.

“PolicyPlace is changing the way we underwrite and distribute insurance, making it more efficient for brokers through its self-service model,” Mr Gallagher said.

“Broker feedback has been positive, and we’re excited to bring more capability to market over the next 12 to 18 months.”