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Procover Underwriting Agency
Procover focuses purely on professional indemnity, management liability and open market placement, and has a team of experienced underwriters with the skills to make fast decisions and deliver timely solutions.
02 9307 6600 fi nlines@procover.com.au
PROCOVER IS a professional lines underwriting agency that provides insurance solutions with tailored coverage to SME and mid-market clients. Procover competes in the insurer market on more vanilla-type risks, while still accepting more of the challenging risk exposures. PI occupations, including management, PR, advertising, marketing consultants, real estate agents, property managers and business brokers.
SCTP (Steadfast Client Trading Platform) PI
Professional indemnity facility
Procover can arrange a full civil liability policy wording, including covers for bodily injury, property damage, pollution, fi nes and penalties, joint ventures, vicarious liabilities and more. Procover can o er terms on occupations across a broad range of engineering disciplines, such as civil and structural engineers; project/construction managers; quantity, land, and engineering and land surveyors; NATA-accredited consultants, including laboratory and others. Procover also writes a broad range of miscellaneous Procover was the fi rst to auto rate on the SCTP for professional indemnity risks, a contestable platform where a Steadfast broker can obtain multiple quotes for a single risk for miscellaneous professions, real estate agents, property managers, business brokers, management/business consultants and more.
Management liability facility
Directors of large public companies are exposed to personal liability for breaches of their duties, but directors and o cers of private companies are also at risk and can potentially be exposed to the following: • the cost of defending a claim or claims, and any damages and costs awarded against them, including those based purely on an allegation of a breach of duties • the cost of preparing for and being represented at an o cial investigation • a claim arising from employment-related complaints, unfair dismissal or sexual harassment • potential liability arising while serving as an outside director • statutory liability for breaches of work health and safety • employee theft and more
LISA MIRANDA joined Procover as a senior professional lines underwriter in 2018 and has made a great contribution to all aspects of the business, including daily operations, assisting in the growth of the portfolio, and in underwriter training. During her time at Procover, Miranda has enjoyed spending her time focusing on di erent projects and assisting in bringing them into production, including the SCTP PI auto rate project.
With over 15 years’ experience in the insurance industry, Miranda is passionate about underwriting, especially within the fi nancial lines products suite.
Miranda started her insurance career as a client representative for landlord home and contents insurance before making the jump into working for a reputable underwriting agency for 10 years. Early in her career, Miranda worked in telecommunications, analysing fraud activities.
Driven by the daily insurance challenges, Miranda enjoys analysing and selecting risks, maintaining relationships with brokers, assisting with training, developing with her peers, and problem-solving.
www.procover.com.au
PRODUCTS
• Professional indemnity
• SCTP (Steadfast Client Trading
Platform) PI
• Management liability
• Open market placement
Open market placement
Procover has access to a wide range of Lloyd’s syndicates for ‘open market’ placements of risks that fall outside its binder facility. Its strong relationship with more than 20 Lloyd’s markets, developed over the past 15 years, gives Procover access to terms for hard-to-place risk exposures and products.
Procover Underwriting Agency Pty Ltd (ABN 46 165 322 592, AR No. 453410) (‘Procover’) is an Authorised Representative of Miramar Underwriting Agency Pty Ltd (ABN 97 111 534 797, AFSL 314176) and acts under binding authorities as an agent for the insurers of the products under a coinsurance arrangement between certain underwriters at Lloyd’s and HDI Global Specialty SE - Australia (ABN 58 129 395 544, AFSL 458776).
JAYSON GROSSMAN, CASUALTY UNDERWRITING MANAGER
What do you see as Procover’s most important feature as an underwriting agency? Our team of experienced professional lines underwriters.
How did 2021 change the way Procover does business? Whilst we had to adapt to working from home, it was a pretty seamless transition. From a broker-facing model, the transition to digital communications was probably the biggest challenge.
What is the greatest challenge facing underwriting agencies today? With capacity challenges over the past four years, underwriting agencies have come to the forefront and continually fi ll the gap for risks the insurers will not write. Because the market is cyclical, we must shift capital back to areas in which the agencies trade.
How do you see technology changing the insurance industry, and how is Procover embracing it? Insurtech is the way forward, but not the only solution. There is still immense value in the traditional business model, especially in professional lines. We are proud to be the fi rst panel member to auto rate on the SCTP PI platform. This technology has brought e ciencies for Procover, but more importantly for brokers, it has brought a contestable platform which they can utilise to obtain multiple quotes for the same risk.
DARREN CRAZE, PROFESSIONAL LINES UNDERWRITER
DARREN CRAZE has over 15 years’ experience in the insurance industry in New Zealand and Australia. His experience includes various roles in SME and personal lines insurance at IAG and Tower in New Zealand before he moved to Australia in 2012. More recently, prior to joining Procover in 2020, Craze worked in financial lines underwriting roles at Brooklyn Underwriting and Lawcover Insurance for over five years.
While also drawn to the technical and risk assessment aspects of his role as a professional lines underwriter, Craze most enjoys the relationship-building, particularly as the industry emerges from the pandemic, and options to engage more in the market arise again.
Is there an achievement you’re most proud of? Attracting and retaining quality underwriters in the business, creating a collaborative underwriting culture, bringing our insurtech proposition to market, and our team at Procover.
How do you support brokers? By talking to them. PI is a technical product due to the complex nature of risk and coverage. Procover’s experienced underwriters take the time to help brokers understand the risk, educate and provide solutions, whilst taking a commercial approach. If we can’t write the risk, we always suggest alternative markets to approach to provide suitable cover.
