Sterling Insurance Enhances PI Offerings with Lloyd's Binder
New Authority and Team Expansion to Benefit Australian Brokers
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Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures.
This development is part of Sterling's ongoing commitment to delivering tailored insurance solutions that meet the specific needs of niche and complex risk sectors.
As a specialist underwriting agency operating under Melbourne-based ATC Insurance Solutions, Sterling has a longstanding history of placing business into the Lloyd's market, particularly within asbestos, environmental, and engineering sectors. The newly acquired binder is expected to enhance the agency's ability to offer more certainty on terms, expedite decision-making processes, and deliver products that are finely tuned to the specialist sectors they serve.
In addition to securing the Lloyd's binder, Sterling is broadening its underwriting appetite to encompass design and construct professionals, training providers, and consultants across engineering, science, and industrial sectors. This expansion includes areas adjacent to construction, marine, energy, and aviation industries, reflecting Sterling's proactive approach to addressing the diverse needs of the professional landscape.
For brokers, this development signifies a more streamlined and responsive experience when sourcing professional indemnity coverage for clients operating in specialised fields. The combination of enhanced authority and an expanded underwriting team positions Sterling as a robust partner in navigating the complexities of professional indemnity insurance.
Published:Thursday, 13th Nov 2025 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
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. - read more
Sterling Insurance has successfully secured a new professional indemnity (PI) binding authority with Lloyd's, a move that promises to provide Australian brokers with greater control over product offerings and pricing structures. This development is part of Sterling's ongoing commitment to delivering tailored insurance solutions that meet the specific needs of niche and complex risk sectors. - read more
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In April 2024, Markel, a US-based specialty insurer, unveiled a suite of professional indemnity (PI) insurance products specifically designed for the Australian market. These offerings cater to professionals in accounting, construction, design and construct, insurance, media, and miscellaneous sectors. - read more
In November 2024, the Australian Prudential Regulation Authority (APRA) directed Pacific International Insurance to increase its prudential capital requirement by $10 million. This action was taken in response to identified deficiencies in the insurer's oversight and control of its binder arrangements with intermediary partners. - read more
