Scope Underwriting, a construction-focused managing general agent (MGA), has announced its official launch into the Australian market, co-founded by Nick Vernon and Rob Higginson.
The Lloyd’s underwriter is part of Rhodian’s growing network of agencies and has an initial focus on Contractors All Risks and Third Party Liability insurance.
“Scope Underwriting brings a new, flexible product to market that empowers brokers to deliver truly tailored cover to their clients across single projects and annual renewable policies,” the MGA said in an announcement on LinkedIn.
The increasing complexity of engineering and construction projects in Asia Pacific, driven by technological evolution and retrofitting trends, is prompting insurers to focus on tailor-made coverage and early collaboration with clients, experts told (Re)in Asia this week.
Scope Underwriting’s own approach is aligned with this, with its website emphasising unique policy wordings, that aim to provide comprehensive cover, and optional extensions to allow for adjustments to coverage that ensure coverage remains fit for purpose throughout a project’s lifecycle.
Nick Vernon and Rob Higginson, who serve as Co-Chief Executive Officers, join from Chase Underwriting, bringing their extensive experience to head up the new venture alongside a support team that brings over 35 years of construction experience to the market.
Rhodian Group is Australia’s first shared equity underwriting network, which aims to incubate and accelerate specialist MGAs across commercial lines of business.
This week, Rhodian saw the launch of marine MGA Marinex Underwriting. Halo Underwriting, a property and liability specialist, was the first MGA to be part of the group, launching in July 2023, while Batch Underwriting, a health specialist, started in January this year.
