“New and improved” is how QBE Australia describes its recently rolled out directors’ and officers’ (D&O) insurance proposition. Here the major insurance company lifts the lid on the revamped product, which is supported by a team led by financial lines and agencies national manager Scott Luxford.
“Our policy wording has been refreshed with plain English language, providing D&O liability coverage, company reimbursement, and entity cover for securities claims,” a QBE spokesperson told Insurance Business, adding that they have made the offering easier to navigate by providing access to specialist underwriters and a local claims unit.
According to the insurer, its primary D&O product is aimed at complementing QBE’s various other mid-market product solutions for brokers and customers while at the same time aligning with the firm’s risk appetite in this market segment.
It was noted that QBE is eyeing opportunities in the mid-market space, based on the macroeconomic climate at present. While primary capacity is mainly for private companies, the insurer highlighted that it can consider public organisations as well.
“At QBE, we regularly review our product offerings and adjust them according to market needs,” the spokesperson went on to tell Insurance Business.
“We consistently seek to support our customers with products appropriate for their requirements, and found that now is an opportune time to reinvent our D&O proposition and further strengthen our QBE commercial product suite.”
Meanwhile the insurer stressed that, regardless of product type, markets can often experience fluctuations, and that it seeks to meet the evolving needs of the market while balancing the risk appetite of QBE.
“Our D&O revamp has been designed with flexibility in mind,” said the spokesperson, “to ensure that we can provide tailored, sustainable solutions according to client needs as the market changes.”
