Ausure Professional Risks
On Episode #26 of their Podcast M&M Insurance Podcast, John Mills and Mick O’Bree had Jason Mann – Managing Director of Ausure Professional Risks guest star to share his insights and knowledge on all things Professional Risks. The episode highlighted a crucial message to all brokers and policyholders – Understanding the product and the ability to break down wording is key.
Underwriting to Broking
Jason, who has over 25 years of experience in the commercial underwriting space explained how specialising in Professional Indemnity meant he was always kept busy, unlike most brokers who find an influx of work from May to July. Jason, originally based in Sydney, moved to Brisbane with his family and was flying back to Sydney each week for work but soon found it was impacting his family life. Taking his expertise in commercial underwriting and his interest in broking, Jason decided to launch Ausure Professional Risks in 2019.
Who Is Ausure Professional Risks
Ausure Professional Risks is an exclusive placement service for professional and financial lines. “It’s been really great because it’s enabled me to offer all of my services, expertise and experience over the years in assisting brokers throughout the network with placement. As well as helping them gain an understanding of the product lines. My previous experience also allows me to leverage all the relationships that I’ve developed over that time because most of the people I worked with are now in fairly senior roles. It’s a great way to put all of that to use and offer my clients a premium service and offering.” Jason explains.
Episode Highlights
The episode discussed the evolution and history of the Professional Risks Covers, the relationship to and extension of Management Liability Covers, Current Products and Variations for different size enterprises and trading situations.
Discussing Professional Indemnity, Jason emphasises the importance of getting the training right for brokers and their teams.
“Brokers need to understand the nuts and bolts of D&Os and Professional Indemnity Policies.”
With platforms now offering basic cover occupations such as accounting, bookkeeping, real estate, and Association covers etc, brokers must have an understanding of the limitations of those off-the-shelf products.
The importance of the Professional Services Description
Jason discusses the importance of the professional services description in the policy, as it’s what triggers the benefits in the policy and the insurer’s reliance on that description and its nuances.
Clients are going for the cheap option, without consideration of the actual risks and or potential claim situations. Ausure Professional Risks has assisted where a broker has selected cover on a platform, for a certain occupation in the mining industry that in no way reflected the risk.
The Market
The market appetite for professional services locally and the international markets, how to place risks where there is no longer a local appetite.
John Mills, Ausure Broking Manager gives examples of where Jason has stepped in to assist with placement, advice and industry connections.
About the Podcast
M&M Insurance Podcast is Australia’s number one General Insurance Brokers Podcast aimed at SME Brokerages and Authorised Representatives
Check out the other M&M Insurance Podcasts, here.
Jason Mann
Managing Director of Ausure Professional Risks
Email: Jason.Mann@ausure.com.au
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