A Melbourne underwriting agency has unveiled a new broad-based SME product wrapping three vital policies into one.
Solution ONE by Solution Underwriting covers Professional Indemnity (PI), Public Liability (PL) and Management Liability (ML) and is not limited to any specific occupation.
Managing Director Rhys Mills says the product is a direct result of feedback from brokers.
“There has been a call for a combined PI, PL and ML policy that is not industry specific for a long time,” he says.
“There are certainly distinct products out there for the recruitment and labour hire industry and as well as information and technology, which we offer, but our product is not limited to any one occupation. It is as broad as you can get.”
Mills says the trend of product packages for the SME market will continue to increase in the future to ease the transaction process for brokers.
“I think especially for the SME market it is more cost-effective to combine three products together,” Mills says.
“It is simpler and we are all about making transacting the professional risk businesses as simple as possible for brokers.
“By packaging all their professional risks into the ONE policy, we have made it as simple as possible for brokers to protect their clients.”
Solution Underwriting are hoping Solution ONE will be available for online quoting in the first half of the year.