Sterling Insurance's New Lloyd's Binder: A Boost for Professional Indemnity Offerings
Empowering Australian Brokers with Enhanced Control and Product Options
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.
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.
Published:Tuesday, 17th Feb 2026 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
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. - read more
The Australian Prudential Regulation Authority (APRA) has released its latest National Claims and Policies Database (NCPD) statistics, highlighting a significant increase in public liability and professional indemnity (PI) insurance premiums. This trend poses financial challenges for businesses across the nation. - read more
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
Recent developments in New South Wales have significantly altered the liability landscape for construction professionals. A landmark court ruling in the Pafburn case has removed the proportionate liability defence previously relied upon by developers and head contractors, thereby increasing their exposure to claims related to building defects. - read more
