Do you have any of these risks?
At FTA Insurance, we are always keen to win more new business!
It does not matter if it is a small, medium or larger risk; we like to look at any of your submissions.
In need of a quote?
Send us an email at [email protected] and you’ll receive a guaranteed Fast Turn Around response from our friendly team.
Below are some examples of the risks we won in April 2024:
- Design and Construct (PI) – Commercial Builder
Activities: A high-end commercial builder specializing in residential and low-rise construction.
Revenue circa: $40 Million
FTA’s comments:
This commercial builder initially held insurance coverage with a $10 million limit. However, to secure a new contract, they needed to increase their coverage to $20 million. Although the broker sourced quotes for a 10 x 10 excess layer, FTA Insurance offered the full $20 million limit at a more competitive rate. Consequently, the policy was placed with us for a premium of approximately $79,000.
- Professional Indemnity – Recruitment & Labour Hire
Activities: Provider of permanent staff placements for babysitters and nannies, as well as some contract hospitality roles.
Revenue circa: $15,000
FTA’s comments:
The broker was remarketing this risk due to a skyrocketing increase in the renewal premium for their client. Initially, the client only sought Professional Indemnity (PI) coverage for their permanent placements of babysitters and nannies. However, they later inquired if we could also incorporate General Liability (GL) coverage for their placements in hospitality roles. FTA was pleased to accommodate this request, and coverage was subsequently placed for a premium of around $1,100, with a $1M PI limit and $10M GL limit.
- Combined PI & GL – Trainers
Activities: A trainer with expertise in delivering life coaching and wellness education.
Revenue circa: $15,000
FTA’s comments:
The insured is a Life Coach who offers wellness training and workshops for both adults and children. FTA Insurance frequently writes policies for such clients through our brokers, either via our online system “QuikQuoter” or through manual quoting. The insured’s classes are all classroom-based, requiring us to apply a ‘Molestation Exclusion’. This policy was secured with a $1M Professional Indemnity limit and a $20M Public Liability limit for a premium of approximately $900.
- Combined PI & GL – NDIS Service Provider
Activities: An organisation providing support to NDIS participants.
Revenue circa: $750,000
FTA’s comments:
In addition to the trainers mentioned above, FTA Insurance also offers competitive combined Professional Indemnity and General Liability insurance policies for NDIS Providers. Our minimum premiums begin at $400 for the Professional Indemnity component and $200 for the General Liability component. This particular policy was manually quoted by FTA for a $5M Professional Indemnity limit and a $20M General Liability limit. It was then placed for a premium of around $1,500.
- Information Technology – IT Security & Consulting
Activities: Services related to IT security, support, consulting, and software sales.
Revenue circa: $1.5 Million
FTA’s comments:
The insured is a cybersecurity and technology services provider committed to protecting small to medium enterprises (SMEs) across Australia. The insured runs two separate entities and is a newly established business, having commenced operations only one year ago. FTA Insurance was able to provide a $2M Professional Indemnity limit and a $10M General Liability insurance policy for this insured, with a premium of around $2,300. - Association Liability – Sports Body
Activities: A yacht club / sailing association operating in aquatic settings that also contributes to local organisations by providing amenities for local events.
Revenue circa: $300,000
FTA’s comments:
The broker was searching for a competitive quote for their client, aiming for a reduced excess and (a sub-limited) pollution coverage. FTA Insurance was able to provide coverage for a $1M limit, with a premium of around $1,000.
- Excess Layer D&O – Civil Works Company
Activities: Specialising in non-destructive digging, asset location & detection services and industrial cleaning.
Revenue: $115 Million
FTA’s comments:
This insured held a $5M Management Liability policy but now required a $10M Directors & Officers insurance limit. FTA Insurance was approached by the broker, requesting a $5 million excess layer on top of the provided primary terms. We were able to accommodate the broker’s request, and this policy was placed for a premium of approximately $15,000.
We have a very broad appetite for a wide range of occupations
Whenever in doubt, please give of of our underwriters a call on (02) 9003 1660 as they are always happy to chat through any of your risks.
Or simply send us an email a [email protected].