Why is an Underwriting Appetite important?
Collecting more in premiums than an insurer pays out in claims and expenses is the only way an insurer can continue to stay in business. To put it another way, the insurer (like any other business) must be profitable. The key to an insurer’s profitability is deciding which businesses to insure and this is referred to as its Underwriting Appetite.
FTA’s Underwriting Appetite is focused on minimising its portfolio’s exposure to catastrophic claims. FTA does this to ensure its profitability and its ability to continue to provide the most competitive premiums and broadest coverage for its chosen insureds.
FTA has the best and most profitable Lloyd’s capacity placed on a long term arrangement to ensure the greatest security.
(including an optional combined Professional Indemnity and Public & Products Liability policy)
$20m costs in addition limits
Premiums starting at $400 base (plus Stamp Duty, GST and other charges)
Difference in Conditions and Differences in Limits
Extended Continuous Coverage
Optional combined Professional Indemnity and Public & Products Liability wording available
Including change management, business coaching or mentoring, business process improvement, human resource consultants, communication or public relations consultants, project management of business initiatives (non construction), human resources or most others that you can think of.
FTA declines consultants doing mergers and acquisitions or advising on ownership structures due to the large consequential loss exposure.
Design & Construct
For fit outs, single or multi residential buildings up to 5 stories and some commercial buildings. The following are a decline high rise construction (unless fit out only), silos, bridges, dams, wharves or jetties. No Public & Products liability for this occupation.
Blue collar labour hire
FTA do provide a broad stand alone professional indemnity policy for on hired labour companies that do blue collar on hired but FTA doesn’t provide Public & Products Liability to such companies.
IT Consultants, IT companies
Including software designers are a target occupation for FTA. FTA provide a very broad and customised IT Liability wording.
Recruitment Consultants and White Collar Labour Hire
These are a target profession of FTA’s. We have a very broad wording and highly competitive rates. We have no restrictions on white collar on-hired occupations except midwives and gynaecologists.
Training organisations or consultants
These are a target profession and we can provide broad competitive terms.
Multi media companies
These are target companies for FTA, including companies that do some production activities including digital production.
Bookkeepers, BAS Agents and Tax Agents
(excluding SMSF auditors) and we do write selectively write accountants for our supportive brokers.
Marketing or advertising
Companies or consultants including those that arrange marketing events or advertising.
Food industry consultants
including quality assurance consultants
Real estate agents
can be considered for supportive brokers
Graphic designers, authors, copywriters or editors
Event management companies
Industries FTA have an extremely broad appetite for Cyber risks across a wide variety of occupations and up to a high turnover or income.
Limits up to $5,000,000
Competitive Premiums, particularly for mid to larger size risks
Broad Policy Definitions
Business & Reputational Interruption
FTA can provide Cyber Insurance as long as the occupation is not on our decline list: Gambling Industries (including casinos), Credit bureaus, Professional Sports Clubs and associations, Universities, Financial transactions processing, reserve and clearinghouse activities, Non Depository Credit Intermediation, Banking, Telemarketing or Telephone Call Centres, Decline Industries, Agents and Managers for Artists, Athletes, Public Sector Organisations, Music Publishers, Social Media Platforms.
FTA are focused on entities offering white collar professions, occupations or services.
FTA prefers writing primary Management Liability for entities with turnover up to $40m. Above $40m FTA targets excess layers and can follow a variety of primary markets.
Industries that FTA can consider include:
Media (incl. Printing, Publishing, Entertainment)
Services (incl. Community Services, Beauty Therapy)
Associations and sporting clubs
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