News: General News: Product Announcement - Professional Risks - June 2011

SRS Underwriting Agency (‘SRS’), is the largest Lloyd’s of London Underwriting Agency in Australia with offices in Sydney, Melbourne and Brisbane. With 100% Lloyd’s of London security, local claims handling and a dedication to service excellence, SRS provides first class insurance solutions.

The SRS Professional Risks Division is delighted to announce the release of the following products:

ARCHITECTS - Our Architects Professional Indemnity insurance provides tailored and comprehensive civil liability coverage essential to every Architects’ risk management program.

This product incorporates Continuous Cover, Court Attendance and Inquiry Costs, Criminal Prosecution, Defence Costs, broad Joint Venture cover and Unlimited Reinstatements with optional Fidelity coverage. With broad definitions for the Insured, Employees and Claims, this is a market leading product.

Ask us about the Contract Review Service provided in conjunction with this product.

RECRUITMENT SERVICES - The SRS Recruitment Services Professional Liability Insurance Package is a flexible multi-section policy providing the ultimate solution for the recruitment service professional. Select from standalone General Liability, Professional Liability and Management Liability, or the package as a whole.

The product has been developed by the team at SRS who have an extensive background in catering to the specific needs of Recruitment Agencies, Labour-Hire firms, Contractor Management companies and Group Training organisations.

ACCOUNTANTS - The SRS Accountants product has always been highly regarded by brokers and Insureds alike. It is a comprehensive product that caters to a broad range of activities undertaken by evolving Accounting practices. Tailored for regulatory compliance it provides Accounting and Insolvency professionals with the peace of mind to focus on what they do best.

New product features include Automatic Fidelity coverage, Compensatory Orders (Civil Penalties), Court and Inquiry Attendance Costs, Public Relations Costs and Worldwide Legal Action and Territory.

MANAGEMENT LIABILITY - The SRS Management Liability policy provides comprehensive coverage for private companies and not for profit entities across a broad spectrum of occupations. Management Liability can be taken up in conjunction with our SRS Professional Indemnity products, or separately.

DIRECTORS’ & OFFICERS' LIABILITY - In addition to our Management Liability policy, we have now released the SRS Directors’ & Officers’ Liability product which contains comprehensive coverage for the risks associated with operating a company in today’s regulated climate.

SRS Professional Risks Product Suite:

• Accountants
• Architects
• Construction Consultants
• Design & Construct
• Excess of Loss 
• Insurance Brokers
• Miscellaneous
• Real Estate Agents
• Recruitment Services (combined PI/PL/ML)
• Technology (combined PI/PL)
• Management Liability
• Directors’ & Officers’ Liability

SRS Professional Risks has a broad appetite and can accommodate smaller SME risks through to large corporate accounts. Policy coverage is broad and optional extensions may include: Costs Exclusive Limit & Excess, Unlimited Retroactive cover, Additional Reinstatements, Fidelity, and Sub-Contractors, to name but a few.

Claims are handled locally and security is 100% Lloyd’s of London, unless stated otherwise.

Primary Capacity:  $20m
Excess Capacity:  Up to $50m

For information on any of the products or services offered by SRS' Professional Risks Division, please feel free to contact:

Posted on Thursday, 09 Jun 2011