Sterling Insurance's New Lloyd's Binder: A Boost for Professional Indemnity Offerings
Empowering Australian Brokers with Enhanced Control and Product Options
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Sterling Insurance has announced the acquisition of a new professional indemnity (PI) binding authority with Lloyd's, a move set 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.
The new binder is expected to streamline the underwriting process, offering brokers more certainty on terms and faster decision-making capabilities. This enhancement is particularly beneficial for sectors such as design and construct professionals, training providers, and consultants across engineering, science, and industrial fields, including construction-adjacent, marine, energy, and aviation industries.
Mike Stephens, who played a pivotal role in securing the binder, will continue to lead PI underwriting in New South Wales. He will also coordinate an expanded footprint following the recent additions of Leanne Leach in Brisbane and Gemma Sturgeon in Western Australia, with plans for a PI appointment in Melbourne.
By placing experienced decision-makers in key markets, Sterling aims to provide brokers with local access and reliable terms. This strategic move underscores Sterling's dedication to supporting brokers and their clients with efficient and responsive insurance solutions.
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