How can we help you help your clients?
Balanced Underwriting have leveraged their relationships to provide access to Lloyd’s markets as well as other foreign company markets.
Our goal: to provide 100% cover for your client’s risk or to provide additional capacity. Wherever your client sits on the hazard spectrum.
Our key areas of placement include (but are not limited to):
Some details on each of the classes is contained below:
Balanced Underwriting can help place risks across numerous property classes in virtually all countries across the globe should the need arise.
From standard construction to EPS, warehousing and distribution to restaurants, sawmills to hay plants, claims-driven accounts to cyclone exposed risks, Balanced Underwriting has markets that will assist.
The Lloyd’s market often limits the line size offered on high hazard risks such as EPS so they may only offer AUD $1m but require a minimum premium for this of between AUD $20-30,000 net.
We also have great success in providing cover to support markets where local capacity has been exhausted. It results in a blended rate for the Insured between local and London rates.
One of our relationships has an appetite for smaller property / liability risks with limits up to $4,500,000 AUD on the property ($20m on the liability). Their preferred risks include wholesale and distribution, precision engineering, manufacturing industries including plastic, metal & wood as well as electrical, fabric / soft furnishing and food & beverage.
Public Liability, Products Liability, Pollution Liability, Umbrella Coverages, Single Project Construction Policies, Product Recall & Guarantee and Excess Layer.
We can secure coverage for higher hazard occupations like manufacturing, construction, mining, transportation, waste to energy and rail.
The facultative placement of this class has seen significant increases in minimum premiums. In some cases only businesses with turnover exceeding AUD$10m will be considered. Currently minimum premiums are AUD $25-35,000 gross for most risks.
Similarly the huge losses in the insurance market over the past few years means that most markets are not writing business at less than 1 per mil on line. AUD $1,000 per AUD $1m limit of indemnity in excess of the primary policy limit.
There may be exceptions to this so please call and let's have an initial conversation about the risk.
We have a market with a dedicated Product Recall offering aimed at industries ranging from food and beverage, nutraceuticals, automotive components, consumer products, non-invasive medical devices and more.
Cover includes recall situations including errors by contract manufacturers and product guarantee.
Our market can also include cyber product tamper and software product safety. This is an increasingly important area of risk considering the reliance on automated production and logistics. As well as the prevalence of hardware controlled by software in consumer products and vehicles.
Coverage includes malicious product tampering and extortion, cyber product safety, rectification cover, business interruption cover, ancillary product recall costs, brand and reputation protection, pre-incident crisis consultancy funds and recall event liability endorsement.
Our markets can assist with Professional Liability risks with an appetite that includes Accountants, Recruitment firms, Engineers, Design and Construction. Plus Professional Services such as Estate Agents, Property Management companies and Surveying firms.
In this sector the rating is highly dependent on risk appetite which at the moment is limited by the Lloyd’s market for Australian business due to historic under-performance of the class.
One of our markets are able to offer premiums within their risk appetite at as little as AUD $1,000. Their appetite includes Architects, Engineers, Professional Services, Accountants, Property Professionals, Recruitment firms and Design and Construct risks.
We also have market options for Directors & Officers Liability, Management Liability, Crime and Excess lines should they be required.
With an extensive network of contacts in this space we can help facilitate coverage in Annual or Single Project Capabilities, Erection All Risks, Commercial Inherent Defects Cover, Contractors Plant and Equipment, Residential Contractors, Commercial Contractors, Mine Owners/Contractors, Oil and Gas Companies, Power and Utility Companies, Earthmoving and Excavation Equipment, Civil Contracting Equipment, Cranes and other Lifting Equipment, Drilling Rigs and associated Drilling Equipment, Scissor lifts, Boom lifts, Forklifts and other Access Equipment, Equipment on Wet Hire and/or Dry Hire
Contractors All Risks minimum premium levels are AUD $5,000 whilst for Contractors Plant and Equipment it may vary depending on the type, use and loss history.
It can range from for normal constructional plant schedules at AUD $10,000 to Logging and Harvesting at AUD $30,000.
We can provide comprehensive coverage options for small, community-focussed events as well as large-scale events like award ceremonies, trade shows or music festivals. We can also source quotes for prize indemnity like hole-in-one competitions. In addition we can get quotes on promotion and lottery jackpot cover.
-Community events
-Small events
-Trade shows
-Music festivals
-Award ceremonies
-Prize Indemnity (lottery jackpot / hole-in-one / promotion insurance)
Our markets provide coverage for Healthcare Organizations and professionals as well as Surgeons and Dentists.
Our markets can assist in less traditional coverages also, this list is just a brief outline of the main offerings.
Some of the other lines we can help facilitate coverage for include:
- Surety
- Inherent Defects Insurance
- Marine
- Energy
For anything not listed here, contact us with your query and we will see if we are able to assist you.