Agile builds its product offer with new Lloyd’s Construction binder

Agile Underwriting has broadened its product range to include construction insurance.

The new construction department is headed by Simon Garske, an experienced construction and insurance professional, who has worked as an engineer and an underwriter in Sydney and internationally in Germany, France, the United Kingdom, the United States and Canada.

He is a Chartered Civil Engineer and highly regarded for his unique combination of practical construction knowledge, project management experience, and a comprehensive understanding of insurance covers, construction contracts and claims management.

Agile will initially offer Construction All Risk (CAR, also known as contractors all risk or contract works) and Erection All Risk (EAR) material damage policies to the Australian market.

CAR provides comprehensive cover for construction, building and civil engineering projects. EAR covers the installation and erection of complex machinery and plant, including during testing and commissioning.
Mr Garske said Agile has partnered with the Munich Re Syndicate at Lloyd’s to offer stable, strong capacity and dependable, prompt claims services.

“We’ll consider a wide range of project types and industries, focusing initially on single projects and then annuals as we grow the portfolio. We’ll also consider co- lines,” Mr Garske said.

Agile’s construction underwriting team has a deep understanding of the diversity of technological risks and the procedural and contractual challenges faced by modern construction projects.

“We’ll work collaboratively with brokers to understand their clients’ projects and find the best solution for insurable risks. We can adapt our cover to suit their needs. Agile will partner with brokers and their clients in risk management for construction projects, large and small,” Mr Garske said.

The construction team also is developing other innovative products to benefit the industry.

Agile’s construction offer will initially be available to brokers by contacting the construction team but will eventually also be offered through Powered by Agile, Agile’s online platform that enables brokers to save time by digitising manual transactions.

“The platform automates simple, transactional business, empowering brokers to quote and bind business under $3,000 in two minutes. It’s straight-through, frictionless processing, so brokers can focus on providing advice for more complex risks,” Mr Garske said.

Agile’s product range now includes accident & health, aviation, casualty, construction, cyber, drones, financial lines, and retail travel – all written under binders. The Lloyd’s coverholder combines traditional underwriting with digital distribution and product development services for brokers.