Industry Segments: Professional indemnity Page 1 / 2
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- December 17 2024
APAC finpro rates flat to 10% down in 2024: WTW
Asia Pacific saw 5-10% reductions for D&O and PI covers with crime staying flat and fund managers pricing flat or up to 10% down and cyber fluctuating within 5% in ANZ markets.
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- October 24 2024
Asian insurance market faces turbulence amid nat cats, economic shifts: WTW
The Pacific market is experiencing more favourable conditions, with reductions in pricing for various sectors, including construction and liability.
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- October 21 2024
Material headroom for growth in Asian financial and professional lines: Markel
Despite softening and macro challenges in some markets, areas like Hong Kong, Singapore and India are slightly further afield offering strong opportunities.
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- October 10 2024
Newline continues Sydney expansion with Bec Smith hire
Smith will join the Lloyd's coverholder as professional indemnity underwriter, reporting to Australia head of the line Nick Beswick.
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- August 28 2024
Conduct exclusion wordings get scrutinised as Segantii’s insider dealing case unfolds
Ongoing criminal proceedings against one of Asia’s oldest hedge funds have highlighted the need for managers to constantly review policy coverage, limits and carriers' claims handling capability, according to financial lines underwriters.
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- July 17 2024
Opinion: Insurers in Asia need to heed shadow banking warning
Given the scale of the casualty offering which has been rolled out to financial institutions across Asia in recent years, it would be surprising if more fall-outs don’t emerge given the volatile nature of many of the risks assumed by the sector.
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- July 8 2024
Australian MGA Artisan Underwriting partners with Liberty Specialty Markets on finpro cover
The MGA, set to launch in August, has signed a three-year binding agreement with the specialty insurer to provide financial lines cover for start-ups and SMEs.
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- June 20 2024
Gallagher’s Pen Underwriting promotes Louise Soutter to professional risks manager in Australia
Brisbane-based Soutter was most recently a senior underwriter focused on cyber and excess professional indemnity for the MGA.
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- June 14 2024
Vero bolsters professional and financial lines team with four hires
Uma Singh, Cem Ulutas, Rob Lee and Shaun Thistlethwaite have joined the Australian carrier covering New South Wales and the Australian Capital Territory.
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- May 2 2024
Markel’s Australian finpro build out bets on ‘harder’ mid-market PI
The carrier aims to grow its onshore footprint in the professional indemnity market in the next two to three years with “a real spread of risks” and eventually expand its portfolio into other financial lines segments when markets turn.
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- April 19 2024
Boutique finpro brokerage PLI Brokers launches in Australia
The brokerage, founded by Melbourne-based managing director David Martin, will offer financial services and accounting professions products.
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- April 2 2024
Markel launches PI cover in Australia with localised wordings
The carrier will write professional indemnity policies for Australian-domiciled businesses across six sectors including construction, accounting, insurance and media.
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- March 25 2024
Newline grows Australia footprint with Sydney office
The Lloyd's (re)insurer has appointed Nicholas Beswick in Sydney as head of professional indemnity for Australia and New Zealand.
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- March 8 2024
Rothbury Group acquires Steadfast-owned Kiwi broker Austinsure
The Auckland-based aviation and PI specialist’s seven-member team will join the New Zealand insurance broking group on March 15.
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- March 5 2024
Arch Insurance Australia hires professional indemnity expert
Melbourne-based Aaron Green, founder of a PI-focused broker for 10 years, has now joined the insurer as a senior underwriter.
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- January 19 2024
Australian carriers brace for surge in construction PI claims
As the number of builders going bust hit a multi-decade high, insurers are experiencing an increase in the frequency and severity of large construction-related professional liability claims, both for project-based cover and annual contracts.
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- January 9 2024
AIG promotes Liam Pomfret as NZ general manager
He was previously AIG’s Asia Pacific head of professional indemnity and cyber insurance, a role he held since January 2018.
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- December 14 2023
APAC financial lines underwriters search for pockets of profitability in underserved niches
While the market in the region remains extremely soft, carriers are betting on mid-market and SME D&O accounts, commercial PI and cyber-blended policies.
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- December 4 2023
APRA issues general insurance licence to Ivory Insurance
The startup plans to provide professional indemnity and general liability insurance capacity to underwriting agencies in the Australian SME market.
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- September 20 2023
Arch Australia hires Joe Bone as PI product and distribution manager
Based in Sydney, the former BHSI exec will report to Anthony Hinde, underwriting manager, professional indemnity.
