SHC Insurance Brokers, particularly known for its expertise in serving the Australian construction and property sectors, has announced the appointment of Nathan Brown as its new executive general manager during a period of substantial growth and increased sector challenges.
Brown (pictured), who has already begun his new role, is expected to guide SHC’s management team through its critical expansion phase.
SHC managing director Stefan Hicks – who recently shared his insights on decennial liability insurance (DLI), a product that is slowly getting traction across the country – described Brown’s appointment as timely.
“SHC is very fortunate to acquire Nathan in such an important role at a critical time for the business,” he said. “Nathan’s quality is difficult to find within the industry, and we appreciate that [he] saw the role as a perfect fit for both of us.”
Brown joined SHC after a lengthy tenure with Coverforce, where he was most recently the national executive general manager.
Commenting on his new role, Brown said: “After seeing the strategic plan that SHC shared with me, it is definitely an exciting opportunity, to not only be involved, but also to be at the pointy end of the leadership team. I am really looking forward to this next period and a fresh beginning.”
SHC CEO Corey Nugent also expressed confidence in Brown’s appointment, emphasising the benefits of his experience.
“To be working closely with Nathan and his wealth of experience will be an absolute pleasure. I know the whole team here at SHC are looking forward to his mentoring, leadership, and market experience. It really does add value to the fantastic team here at SHC,” he said.
SHC made the leadership appointment as the Australian construction sector faces the impacts of economic uncertainties.
QBE Insurance’s (QBE) latest Australian Construction Sector Outlook report, which aims to address the various economic challenges facing the sector, emphasised the need for proactive risk management, particularly in mitigating supply chain disruptions exacerbated by the COVID-19 pandemic, international conflicts, and trade issues.
Dale Gleeson, general manager of elders insurance and heavy industries at QBE Australia Pacific, highlighted the importance of understanding global supply chain structures to identify vulnerabilities.
“Global supply chain disruptions are likely to continue, so understanding the structure and geographic concentration of suppliers can help businesses assess and identify vulnerabilities within their supply chain,” he said, adding that businesses should consider diversifying suppliers and focus on quality control when engaging new partners.
The report also discussed other risks, including higher interest rates, rising labour and material costs, and a significant shortage of skilled labour since the pandemic.
Gleeson stressed the need for a culture of preparedness to navigate these challenges effectively.
“By understanding the emerging risks and opportunities, businesses can better position themselves for the years ahead,” he said.
QBE has observed a 130% increase in average claim sizes across contract works policies for construction companies since 2019.
