The chance to insure 110,000 lives is up for grabs at Media Super.

The $3 billion fund, the result of last July’s merger between Print Super and JUST Super, has to date retained its legacy group insurers but has now sought tenders from all players in the market, with the assistance of Rice Warner.

New Media Super members are currently offered death, TPD and income protection policies underwritten by ING Life, JUST’s legacy insurer.

Former JUST members have retained their ING policies, while former Print Super members have death and TPD cover through Hanover Life and income protection insurance through  IUS Group.

The chief executive of Media Super, Ross Martin, said he hoped the tender would result in a better insurance deal for members, given the greater scale of the new fund.

Media Super had been holding fire on changes to investment managers given the volatility of the markets, however Martin said a rationalisation of the merged fund’s roster would begin at some stage, and was on the agenda of the investment committee (chaired by trustee Philip Andersen) which meets this week.

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