Sterling Insurance has a new professional indemnity binding authority with Lloyd’s that it says will unlock greater control over product and price for Australian brokers. 

The specialist underwriting agency – part of Melbourne-based ATC Insurance Solutions – works with niche or complex risks across general liability, professional indemnity and aviation in Australia and New Zealand.

Sterling has long placed asbestos, environmental and engineering sector business into the Lloyd’s market, and MD Tony Parington says the binder is a “clear step forward for our brokers and their clients.

“Brokers will see more certainty on terms, faster decisions and a product that reflects the specialist sectors we serve.”

Underwriter Mike Stephens, who was instrumental in securing the binder, says Sterling is broadening its appetite to include design and construct professionals, training providers and consultants across engineering, science and industrial sectors, including construction-adjacent, marine, energy and aviation. 

“The return to a binder gives us a distinct offering that brokers can only obtain through Sterling,” he said.

“It removes uncertainty for standard risks and lets us focus on clear instructions, sensible pricing and fast responses. The binder will be the engine room for day-to-day placements.”

Mr Stephens will continue to lead PI underwriting in NSW. He will also co-ordinate an expanded footprint following the recent additions of Leanne Leach in Brisbane and Gemma Sturgeon in WA. There are also plans for a PI appointment in Melbourne. 

“Our strategy is to put experienced decision-makers in the markets where brokers operate,” Mr Parington said. “Brokers have told us they want local access and reliable terms. This binder, together with our senior appointments, is about answering that request with practical steps and the right people on the ground.”