Insurer taps agencies growth

An Australian commercial insurer has partnered with a new professional indemnity underwriting agency with a broad focus, strengthening its agencies business.

IAG Commercial Insurance and professional risk specialists Pacific Indemnity Underwriting Solutions have teamed up, presenting both companies with opportunities for growth.

Pacific Indemnity’s target market will include SMEs, but also a broad selection of corporate sectors, including larger architecture, engineering, design and construction firms, as well as insurance intermediaries and financial advisers.

Pacific Indemnity underwriter Jun Acance has more than 26 years experience with CGU, and was head of CGU’s professional risk portfolio for 15 years.

“Our appetite will be broad in terms of professional indemnity. It will probably be much broader than your normal underwriting agency, and it will be as broad as most of the insurance companies,” Acance says.  

IAG Commercial Insurance Executive General Manager Agencies Phuong Ly says: “The partnership is an exciting opportunity to work alongside one of our industry’s most respected professional risk underwriters, Jun Acance who is widely known for his expert underwriting knowledge.”

IAG Commercial will continue to work alongside existing broker partners and offer professional risk products through its CGU brand portfolio.