Can we assist with any of your 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 May 2024:
- Professional Indemnity – Project Manager Construction
Activities: The insured engages in project management activities within industrial site environments.
Revenue circa: $40 Million
Policy Limit: $20 Million
FTA’s comments:
The insured was previously covered by another provider but sought alternative terms due to a significant increase in their renewal premium. The previous insurer had incorrectly classified the insured as an Architect instead of a Project Manager, leading to a shockingly high revised premium. Their broker approached us for a swift alternative quotation as the insured’s extension was about to expire. FTA promptly responded and assisted the broker in securing better terms and pricing. We successfully placed this Professional Indemnity policy with a $20M limit and a base premium of approximately $34K.
- Management Liability – Management Consultants
Activities: Management consulting and IT project delivery, specialising in digital transformation.
Revenue circa: $2 Million
Policy Limit: $1 Million
FTA’s comments:
The insured is an experienced project management company with a compact team. Previously, their Professional Indemnity, Public Liability, and Management Liability were insured elsewhere, but they were seeking a new provider. Their Broker approached FTA for a Management Liability quotation and inquired if we could also cover their other policies to consolidate with one insurer. FTA was pleased to offer competitive quotes for all three policies, with the Management Liability policy quoted at a base premium of $1.4K. The client subsequently placed all their policies with FTA for a total of $9,750.
- Combined PI & GL – NDIS Provider
Activities: Home and community care services, including household tasks such as cleaning, shopping, meal preparation or meal delivery, laundry, gardening, and transportation.
Revenue circa: $3 Million
Policy Limit: $10M PI and $20M GL
FTA’s comments:
This broker approached us for a competitive quotation as they were attacking this risk and eager to add it to their portfolio. At FTA, we prioritise offering our terms to the broker who submits the new business first, giving them the opportunity to secure the risk (unless we already hold it with another broker). We provided a quote for this risk with a combined base premium of approximately $5K, and the broker was delighted to successfully win this risk with FTA.
- Labour Hire – Combined PI & GL
Activities: Recruitment services including the placement of on-hired employees (primarily IT consultants)
Revenue circa: $40 Million
Policy Limit: $10M PI and $20M GL
FTA’s comments:
This broker was actively pursuing this risk and seeking more competitive terms than those offered by their current insurer. We worked closely with the broker to understand their client’s needs and adjusted our terms accordingly. Our terms were well received by the client, and coverage was subsequently placed for a combined PI & GL premium of approximately $15K. This is a prime example of how brokers can successfully secure specific risks by collaborating closely with their FTA underwriter.
- Information Technology – Managed and Maintenance Services
Activities: The insured engages in managed/ maintenance services, the supply and installation of IT equipment and development and maintenance of tracking software.
Revenue circa: $300K
Policy Limit: $1M PI and $20M PL
FTA’s comments:
This broker was looking for urgent terms for this policy as they weren’t hearing back from the expiring provider, and were having difficulty with other providers and quotes received due to either lack of service or non-competitive pricing. FTA came back to the broker with sharp terms within 1 hour and the policy was bound the next day. We successfully place this IT policy with $1M PI and $20M PL limits and a base premium of around $3K.
- Association Liability – Not for Profit Association
Activities: A non-profit association offering both online and in-person workshops for young creative minds in schools and public libraries.
Revenue circa:$1 Million
Policy Limit: $3 Million
FTA’s comments:
This insured previously had their Associations Liability policy covered through an online system with one of FTA’s main competitors. Their broker actively sought competitive quotations for their client across the market. FTA’s pricing and coverage emerged as the most favorable option, and thanks to our underwriters’ swift turnaround times, placing your risks with us is just as seamless and efficient as an online placement! This policy was successfully placed with FTA, with a base premium of approximately $1.5K.
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].