SECTOR BRIEFING | TECHNOLOGY
Change begets change Coming off the back of a massive year of transformation, ProRisk is pushing itself further than ever before in 2021
AFTER A year like 2020, many agencies would be happy to simply chalk up their frustrations and move forward, never to look back. But that’s not the case for Hamish McDonald Nye, executive director at ProRisk. In a strange way, the year represented one of his high points since joining the business. In spite of the obvious issues caused by COVID-19, Nye describes 2020 as “a massive year of change” for ProRisk and reflects on it largely positively. The company switched capacity provider to Swiss Re and introduced four new products: healthcare professionals’ civil liability, management liability (ML), sole traders and partnerships ML, and association liability. To cap things off, ProRisk was awarded Underwriting Agency of the Year at the 2020 Insurance Business Australia Awards and also received a 5-Star Award in cyber insurance from Insurance Business magazine. “It’s definitely a year that we feel we can be proud of,” Nye says. “I don’t want to pretend it was without issue, by any means. But I do think we were able to achieve a lot, especially under the circumstances.” Insurers pulling back capacity and nonrenewing binders, notably in the Lloyd’s market, was definitely a significant challenge for many looking for insurance, he says, although ProRisk’s capacity remained intact. Nye is optimistic that there will still 10 | Special Edition Underwriters Guide
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