Specialist Underwriting Agency Pty Ltd (SUA) and Lumley Insurance have announced they will cease their underwriting relationship on the Business Practices Protection (BPP) programme by mutual agreement.
Director of SUA John Iles, said, “SUA and Lumley have enjoyed a 15 year beneficial association that produced two Australian-first products, being Employment Practices Liability and Statutory Liability, which are now mainstays of the Australian Insurance landscape. Together we also created Australia’s first modular Management Liability programme.”
Chief Operating Officer of Lumley Insurance John Nagle said, ”Changing dynamics within each of the businesses, recent market trends and opportunities led to both parties concluding that our strategies for developing the product were no longer aligned, which lead to our agreement for a mutual separation. We have always had a strong working relationship with the SUA team and wish them all the best in the future.”
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