Insurer expands construction portfolio

ATC Insurance is embarking on an exclusive partnership with Lloyd’s syndicate Prosight Specialty Insurance for its construction and plant portfolios.

 With offices opening in Sydney and Brisbane earlier this year and plans to extend into South East Asia, CEO Chris Anderson says 2014 has already been a big year for ATC.

“Prosight’s selection of ATC for an exclusive binder arrangement is a strong endorsement of our underwriting expertise, distribution capability and overall performance,” Anderson says.

“At ATC, we value our deep partnerships with our broking partners and we are constantly striving to maximise the value generated by our market knowledge and underwriting expertise.

“ProSight’s selection of our agency is a huge vote of confidence in our core products offering and the foundations upon which our broking partnerships have been built.”

ProSight Syndicate 1110 at Lloyd’s, Active Underwriter, Paul Cusition, says the binder arrangement with ATC reflected the insurer’s focus on partnerships that deliver additional value to customers.

“We only partner with agencies that share our vision of delivering value to customers through superior expertise,” Cusition says.

Anderson says ATC’s expertise in the Australian market has contributed to their strong relationship with underwriters.

“We have built a strong relationship with Prosight and their underwriters in the engineering and machinery space over recent years,” he says.

“They have confidence in ATC and our knowledge of the Australian market; our new partnership provides for a more robust relationship and means all of ProSight’s Australian construction and plant business will go through us.”

Anderson says that the binder arrangement will benefit brokers and insurers in the Australian market.

“The exclusive arrangement allows us to have a strong sense of service offering, we have such a strong relationship with Prosight that we are able to work closely with their underwriters in London and capture the bespoke requirements of the brokers and insured parties,” he says.

Looking towards the future, Anderson says ATC is also looking to build its headline construction and machinery portfolios in Asia.