BIA's New Combined Indemnity and Liability Insurance Now Available
Streamlined Coverage for Professionals Through Steadfast Platform
0
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Berkley Insurance Australia (BIA) has announced the launch of a combined professional indemnity (PI) and public liability (PL) insurance product, set to be available from June 1 through the Steadfast Client Trading Platform (SCTP).
This initiative aims to simplify the insurance process for brokers and their clients by offering a unified policy that addresses both professional and public liability risks.
The new combined product will be accessible for both new and renewing policies, expanding BIA's existing offerings on the SCTP, where it currently serves as a primary market for professional indemnity insurance. By integrating PI and PL coverage into a single policy, BIA seeks to reduce administrative complexities and potential coverage gaps that can arise when managing separate policies across different insurers.
Key benefits of this combined policy include expedited processing times, localised support, competitive commission structures, and high coverage limits. BIA emphasises its commitment to supporting brokers within the Steadfast network and indicates that further product developments are under consideration to enhance service delivery.
For brokers interested in this combined offering or seeking access to SCTP resources, BIA encourages direct engagement with local underwriters or visiting the insurer's website for more information.
This development aligns with BIA's broader strategy to streamline risk solutions for intermediaries, reflecting a proactive approach to addressing the evolving needs of professionals seeking comprehensive and efficient insurance coverage.
Published:Thursday, 13th Nov 2025 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement. - read more
Sydney-based insurtech company Upcover has unveiled a new professional indemnity and public liability insurance product tailored specifically for nurses across Australia. This initiative aims to provide comprehensive coverage that meets the unique needs of nursing professionals, including nurse practitioners, in-patient nurses, doulas, and nursing students. - read more
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database, providing valuable insights into the professional indemnity (PI) insurance sector for the 2022 underwriting year. The data indicates that PI claims payments for non-facility business remained relatively stable at $1.111 billion, a slight increase from $1.109 billion in the previous year. - read more
In a significant development for New South Wales' legal community, ABC Insurance has announced its entry into the professional indemnity (PI) insurance market, providing solicitors with an alternative to the longstanding sole provider, Lawcover. This move introduces competition and choice for over 23,000 solicitors in the state, who have traditionally relied on Lawcover for their mandatory PI insurance. - read more
Professional Risk Underwriting Pty Ltd (ProRisk) has launched a new Professional Indemnity (PI) Insurance policy available through their ProBind platform. This product caters to Australian-domiciled organisations with up to 500 employees and a turnover of up to $25 million, covering a wide array of 506 professional occupations, including consultants, accountants, engineers, and legal professionals. - read more
