Rhodian Group, a company focused on incubating underwriting agencies across Australia, has officially launched Scope Underwriting, a Melbourne-based agency specialising in construction insurance.
The new agency is co-founded by Nick Vernon and Rob Higginson, who bring decades of experience in the construction insurance sector.
Both Vernon and Higginson have extensive backgrounds in insurance for the construction industry, collectively amassing over 30 years of expertise.
Vernon’s background includes more than 20 years in insurance, with a specific focus on construction during the past 14 years. He has held various roles in both broking and underwriting, most recently overseeing the construction division of a major underwriting firm.
Earlier in his career, Vernon was responsible for managing insurance portfolios for some of Australia’s largest construction companies as a State Manager at a national brokerage.
Higginson, who has over 15 years of experience in construction insurance, has worked in senior broking and placement roles. He was instrumental in driving the growth of Chase Underwriting across multiple insurance products.
Higginson’s previous roles also include eight years with Master Builders Australia Insurance Services (now MBIB), where he held senior positions in broking.
Scope Underwriting is positioning itself to provide brokers with tailored insurance solutions for construction risks.
Among its initial offerings are:
“The construction industry is a growing sector of the economy, and the brokers are looking for more capacity to provide choice for their clients,” said Simon Lightbody, CEO of Rhodian Group. “Scope will be very much looking to help brokers have an increased range of products to supply to their clients.”
He highlighted the co-founders’ years of experience gathered while working with brokers to ensure their clients have the most comprehensive cover possible.
“As with any agency, the expertise that lies in the underwriting team is an essential element of success,” Lightbody said.
Vernon said that Scope Underwriting was developed with adaptability in mind, allowing brokers to tailor coverage to the particular needs of their clients.
“With a range of optional extensions and a focus on the construction sector, brokers can arrange highly relevant coverage, making them more competitive and valued by their clients,” he said.
Higginson added that many insurers and underwriting agencies currently cater to either small businesses through rigid online portals or to large government and international programs, leaving a gap in the market. Scope Underwriting intends to close that gap by providing all brokers with the expertise and flexibility to address their clients’ unique requirements.
“At Scope Underwriting, we aim to bridge this gap by providing all brokers and builders with the expertise, resources, and flexibility to craft insurance programs that meet their clients’ unique needs,” he said.
The launch of Scope Underwriting follows Rhodian’s recent introduction of Marinex Underwriting, a marine-focused agency also established under the Rhodian umbrella.
Marinex, backed by global insurance distributor Amwins, is designed to tackle complex marine insurance needs within Australia. This strategic expansion underscores Rhodian’s efforts to develop niche-focused underwriting agencies to serve specialised sectors.
As the global construction insurance market stabilises, agencies like Scope are poised to benefit from increasing capacity.
According to a report by WTW, construction insurance capacity is rising, reaching levels last seen in 2019 during the soft market cycle. This growth is expected to continue into 2025 as insurers expand local capacity and new entrants seek to establish themselves in the market.
The WTW report also highlighted trends in infrastructure development, particularly in energy, utilities, and manufacturing, which are driving demand for construction insurance. However, pricing remains cautious in regions with high exposure to natural disasters, such as parts of Asia and the Americas.
Scope Underwriting enters the market at a time when insurers are increasingly seeking opportunities to address complex construction risks and coverage gaps, particularly in large infrastructure projects.
