QBE has changed its commercial landlords industrial special risk product to give brokers “more tools” to support clients.

Intermediaries can now offer add-ons such as rent default cover up to 52 weeks; tax audit protection coverage up to $25,000; and machinery and electronic equipment breakdown cover.

“This isn’t just a product refresh … it’s a strategic enhancement aimed at helping brokers grow their portfolios in a competitive market,” Australia Pacific head of property and marine Bob Algie said.

“By offering these covers as optional extras, we’re giving brokers more tools to attract and retain quality commercial landlord clients.”

The product is for landlords with properties valued between $15 million and $50 million, particularly those with strong risk management practices and well-maintained assets, QBE says.

The insurer has also rolled out generative AI underwriting across all property products.

Mr Algie says the tool “helps us make faster, more accurate decisions on risk acceptance, pricing and conditions. It’s especially valuable in the industrial special risks space, where complexity and data volume can slow down response times.

“With GenAI, we’re reviewing more submissions and helping brokers secure cover faster than ever.”