20 March 2015 Insurance

Steadfast launches emerging risks underwriting agency

Steadfast, the largest network of general insurance brokers in Australasia, and general insurer Hollard Group have invested in a new underwriting agency focused on new and emerging risks.

Emergence Insurance Group, based in Sydney, has been co-founded by Troy Filipcevic and Chris Stallard and specialises in risks tailored to the SME market in Australia, New Zealand, South Africa and Asia.

Filipcevic was formerly executive manager of strategy at Suncorp Group and previously worked for Deloitte. He is also chairman of ACORD in Australia and sits on their global standards committee.

Stallard recently led the commercial portfolio and SME portfolio teams for Suncorp and has worked for AIG in Lloyd's of London.

The first product to market is cyber event protection, which has been specifically designed for SME clients in collaboration with cyber experts, reinsurers, brokers and customers.

Filipcevic said: “Partnering with Steadfast enables us to develop products by being close to the customer, plus our association with Hollard has facilitated robust product development and speed to market. We look forward to leveraging the strength and knowledge of both these organisations.”

Stallard added: “Our first product to market addresses one of the most significant emerging risks worldwide – cyber security. The World Economic Forum identified that two of the highest concerns for businesses are data fraud/theft and an escalation in large-scale cyber attacks. Our research suggests that this is as significant to SMEs as it is to large corporates based on the type, frequency and severity of attacks.”

Managing director and chief executive officer (CEO) of Steadfast, Robert Kelly, said: “We are excited to back an innovative line of insurance products that deal with emerging risks like cyber insurance. Troy and Chris are well placed to educate brokers on insuring new risks for their client base.”

Richard Enthoven, CEO of Hollard Insurance, added: “Hollard has a passion for supporting entrepreneurs and we are pleased to be working with the Emergence team to introduce products tailored to SME clients that target new markets and challenge traditional areas of insurance.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk