The professional indemnity market has faced a mountain of challenges recently. However, despite tough market conditions, brokers found many positives in the performance of the top underwriters and insurers in Australia. Now, Insurance Business Australia (IB) is recognising the professional indemnity insurers that stood out in the industry over the last 12 months.
Insurance Business identified the 5-Star Professional Indemnity Insurers in Australia for 2022 by surveying brokers across the country, acquiring a thorough understanding of what insurance professionals thought of current market offerings and gathering their selections on the country’s best professional indemnity insurers.
The IB team quizzed brokers on what features they thought were most important in a professional indemnity policy and then asked how the companies they had dealt with rated on those attributes. Finally, it identified the winners by measuring their ability to handle claims, their underwriting expertise, and most importantly, the strength of the individual products they provide.
For two years running, brokers chose FTA Insurance (FTA), a Sydney-based underwriter and Lloyd’s coverholder, as a winner in the Insurance Business 5-Star Awards for Professional Indemnity Insurers.
So, what made FTA stand out again?
FTA founder and managing director Christian Garling, an insurance veteran for nearly three decades, told Insurance Business that the agency’s success in the professional indemnity market comes down to having a great team that values brokers.
“Most brokers really enjoy dealing with someone whose expertise they have confidence in and whom they can trust. That and competitive premiums is what FTA brings to the table, and brokers have responded very strongly to this,” Garling said.
Commenting on FTA’s second Insurance Business 5-star professional indemnity award, Garling said: “Each year that FTA continues to receive the 5- Star award confirms that FTA’s broking partners value the products and expert advice they receive from FTA.”
He added: “This pushes us to keep up the service to our brokers and makes us feel great about the work we are doing.”
You may find out more about FTA’s secrets to success and the rest of Australia’s best professional indemnity insurance providers for 2022 by reading the Insurance Business 5-Star Awards for Professional Indemnity Insurers report here.
