Industry News

Strata Insurance NSW

In recent times we have received a number of enquiries regarding Lloyd’s Underwriters’ authority to write strata business in NSW. We address these queries below.

The NSW Strata Schemes Management Act 1996 states that insurance must be taken out with an approved insurer. The NSW Fair Trading website stipulates that approved insurers are those authorised by APRA for general insurance.

Lloyd’s Underwriters are authorised to write insurance business in Australia pursuant to Section 93 of the Insurance Act 1973, and are regulated by APRA. Sections 65 to 73 of the Act provide for special Australian policyholder protection provisions associated with Lloyd’s. A$2.3B security is held in Australian Trust Funds (figure as at 31 December 2014).

Should you wish to find out more about the Lloyd’s market, we have included some links below.

Related Links

    APRA website

For more information on Lloyd’s Underwriters authorised status visit; http://www.apra.gov.au/GI/Pages/Lloyds-in-Australia.aspx

    Lloyds Security

To view further information on the financial security of the Lloyd’s Market visit; http://www.lloyds.com/lloyds/investor-relations/lloyds-capital-structure

    Lloyd’s in Australia

Click this link to read more;
http://www.lloyds.com/lloyds/offices/australasia/australia

Axis Underwriting announces major improvements to Commercial Strata policy

Axis Underwriting is a leading Strata Insurance market for commercial, industrial and mixed tenancy strata risks.

Today, Axis Underwriting’s Managing Director, Gary Dawson, announced major changes to its Commercial Strata Policy.

Axis Underwriting opens new Sydney offices!

Off the back of one of the busiest years Axis Underwriting has experienced, we are set to expand and will be opening a new office in Sydney from Monday 7th April.

Augmenting our existing bases in Melbourne and Brisbane, Axis’ Sydney office will be run by Development Underwriter, Emily Walker, who will already be well known to most of you.

By |Axis, Feature, Industry News|April 3, 2014

Legal Expenses a big hit for Axis at the Steadfast Conference

It was great catching up with the Steadfast community at the recent 16th Annual Steadfast Conference held in Melbourne from 1 – 4 March.

As always, the ability to connect with industry peers and catch up on the changes and exciting news within the insurance industry was invaluable.

One more sleep until we see you at Steadfast Conference!

The team at Axis Underwriting are busily preparing for the 16th Annual Steadfast Conference to be held at the Melbourne Convention & Exhibition Centre from 1-4 March.

By |Axis, Feature, Industry News|February 28, 2014

Axis to launch a new specialist product

“With the launch of Axis’ legal expenses products, brokers can now offer their medical clients protection against the very high legal fees which can be incurred in a range of disputes.” said Gary Dawson, Managing Director, Axis Underwriting when interviewed by Insurance Business Online.  Click here to read the full article.

 

 

Axis in negotiations to expand underwriting facilities with Lloyd’s of London

Managing Director of Axis Underwriting Services, Gary Dawson, is traveling to London tomorrow for meetings with Underwriters from Lloyd’s of London over the next two weeks.

By |Axis, Feature, Industry News|November 20, 2013

Australian Insurance Industry Award Winners announced

Last night, The Australian Insurance Industry Awards were held in Sydney to honour the achievements of companies and individuals within the Australian insurance market throughout the previous year.

Axis Underwriting is honoured to have been named as a finalist for the 2013 Underwriting Agency of the Year and we would like to extend our warmest congratulations to Brooklyn Underwriting, who were deserving winners on the night.

By |Axis, Feature, Industry News|August 15, 2013

New South Wales Fire Services Levy Update – Effective 28th July 2013

Axis Underwriting has determined that the New South Wales Fire Services Levy (FSL) should be revised and the following new rates will be implemented with effect from 28 July 2013.

Victorian Fire Service Levy Reform – Effective 1st July 2013

From 1 July 2013 the levy on insurers (FSL) will transfer to a property based levy to be collected through council rates and will no longer form part of your insurance premium.