Click to enter
Liberty Specialty Markets
AUSTRALIA
Before we begin
This presentation illustrates some, but not all, of the products and services Liberty offers. It is not a comment on insurance coverage available from Liberty. It should not be relied upon as advice or any definitive statement of law or the principles of insurance in any jurisdiction. © Liberty 2024. Please contact Liberty for a licence to use and distribute this document. This information is current as at March 2024. Liberty means Liberty Mutual Insurance Company, Australia Branch (ABN 61 086 083 605; AFSL No. 530842 (for claims handling and settling services only)) incorporated in Massachusetts, USA (the liability of members is limited), trading as Liberty Specialty Markets; Liberty Specialty Markets Hong Kong Limited (UBI 66395065); Liberty Specialty Markets Singapore Pte Limited (UEN 201538069C); and Liberty Specialty Markets Singapore Pte Limited, Labuan Branch (Company No. LF12903), a licensed insurer under the Labuan Financial Services and Securities Act 2010 (Licence No.: IS2016162) (together Liberty).
We exist to help organisations embrace today and confidently pursue tomorrow
We provide continuity and a long-term view
We make time for what matters most
Our multi-dimensional promise
For Mutual Advantage Liberty Specialty Markets is a world-class provider of insurance and reinsurance services. Being part of a mutual brings advantages - beyond reach and depth of expertise - that reduce risk in an unpredictable world and provide opportunities to prosper together.
Operating since 1912
87th on the “Fortune 100” list*
US$49.4b in annual consolidated revenue
$
S&P Credit Rating “A”
40,000+ employees
29 countries
We’re part of the Liberty Mutual Insurance Group
*Based on 2022 direct written premium. Information last updated 11 March 2024.
8th largest
property & casualty
insurer in the world*
78th on the “Fortune 100” list*
US$50b in annual consolidated revenue
S&P Credit Rating “A” (strong)
50,000+ employees
Liberty Mutual Insurance Group
*Based on 2022 gross written premium. Information last updated 20 March 2023.
5th largest
US Retail Markets
Global Risk Solutions
Liberty Mutual Surety
Liberty Mutual Reinsurance
Liberty International Insurance
North America
UK & MENA
Asia Pacific
Menu
HOME
WHO WE ARE
Our promise Global presence Group structure
OUR APPROACH
Long term partnerships Underwriting Claims Risk engineering
WHAT WE STAND FOR
ESG NIBA survey results
OUR PRODUCTS
US personal lines and small commercial business
Europe
Latin America & US
Liberty Mutual has two market presences in Asia
Internal division
Brand
Insurance license
Distribution channel
Primary market
Core product lines
Singapore, Hong Kong, India, Thailand, Vietnam, Malaysia, China
Singapore, Hong Kong, Malaysia (Labuan), China*
Insurance brokers and agents
Insurance brokers and cedents
Personal, SME, Corporate
Corporate
Motor, Personal Lines, Accident & Health
Casualty, Financial Lines, Construction, Engineering, Specialty
*In China, we operate as Liberty Specialty Markets Underwriting Division on the Lloyd’s China platform in Shanghai and Beijing.
Asia Retail Markets
SLIDE ONLY FOR APAC VERSION
In Asia Pacific, the Liberty Specialty Markets team is based in four countries
CHINA
MALAYSIA
SINGAPORE
Brisbane
Sydney
Melbourne
Adelaide
Perth
Singapore
Kuala Lumpur
Shanghai
Beijing
Hong Kong
Guangzhou
Operating since 1999
600 employees
11 offices across Asia Pacific
US$1b in gross written premium
Protect 26,000 businesses and organisations across the region
3 direct and 1 reinsurance licences, all with S&P ‘A’ financial ratings
* In China, we operate as Liberty Specialty Markets Underwriting Division on the Lloyd’s China platform in Shanghai and Beijing.
We build long term partnerships
– look beyond today, help you plan for tomorrow, and protect what matters most
We:
– insure 81 companies in the ASX100
– seek to truly understand every business, provide tailored levels of cover and practical guidance
– write more than 30,000 policies across Asia Pacific
Our four pillars of focus
Our purpose
Environmental, Social & Governance
We exist to help people embrace today and confidently pursue tomorrow
Our ESG ambition
Advance resilience and inclusive growth
Increase customer resilience
Help our customers adapt to and mitigate the risks affecting their lives and businesses
01
Enable sustainable growth
Support a more equitable and responsible climate transition and integrate ESG into our day-to-day decision making
02
Improve lives and communities
Advance security, further opportunity and strengthen communities
03
Advance diversity, equity & inclusion
Embed DEI across all aspects of our business
04
2024 NIBA Broker Market Survey
An online survey comparing 12 Australian general insurers ranked Liberty Specialty Markets 1st place in 40 out of 42 categories
Trusted partner
Delivers on promises
Value for money
Responsiveness
Corporate reputation
Net promoter score
Underwriting overall satisfaction
Understand underwriting for my client’s needs
Have expert knowledge in specific product areas
Are comfortable having complex or challenging conversations
Work with me to find a solution for my client
Account management overall satisfaction
Strong product knowledge and technical expertise
Takes ownership for resolving my business issues and follows through on commitment
Willingness to negotiate for the benefit of my client
Takes the time to learn about my business and client needs
Underwriting flexibility
Ability to tailor a policy to suit my client’s needs (eg, customise options)
Product coverage and wording that suits the needs of my client
Policy conditions and cover
Ensure claims resolution is timely
Quick and efficient assessment process
Claims overall satisfaction
Staff proactively communicate progress of the claim
Single point of contact dealing with the claim
Range of channels to make a claim
Assessors act and behave in a professional manner
Brand I have confidence in
Cares for its customers
Is easy to deal with
Provides solutions for mutual growth
Develops and maintains strong relationships
Overall
Underwriting
Account Management
Underwriting Flexibility
Claims
Overall opinion versus other insurers
Unlikely to shift due to price
Trust
Overall satisfaction
Communicate when underwriting appetite has changed
Responsiveness to the needs of my clients
Staff are knowledgeable about what the product covers in the event of a claim
Truly partners with me
A truly integrated team
Our unified Asia Pacific team
Clear underwriting authority Experience and confidence to write complex insurance risks Consistent approach to business
16 highly qualified risk engineers 3 specialist credit analysts In-depth technical expertise Onsite assessments
40 claims specialists across 9 locations Manage 13,000 claims per year Respected for leading complex claims involving multiple parties and insurers Recovery team
UNDERWRITING
CLAIMS
RISK ENGINEERING
Underwriters
Risks are assessed individually
Experienced case underwriters
Global network
Solution focused
Diverse range of backgrounds
Working together as one team Our claims teams are wholly integrated with our underwriters and risk engineers to ensure that we provide value at all stages of the relationship.
Our claims promise
Our integrated claims service delivers value throughout our relationships
Acting decisively Our claims teams are wholly integrated with our underwriters and risk engineers to ensure that we provide value at all stages of the relationship.
Paying fairly and dependably As a company that does the right thing, we have a proven reputation for paying claims fairly and promptly.
For Mutual Advantage
Claims + service
Though our Claims+ service we deliver value throughout our relationships, not just at the point of claim
Pre
During
Post
Understand needs and shape policy
Client engagement
Policy review
Making a claim
Client feedback
Providing ongoing support
Act on client's behalf
Review service experience
Claims specialists are part of client engagement teams alongside our underwriters and risk engineers. Services include wording reviews and claims scenario workshops.
Claims specialists offer advice on risk reduction and claims protocols.
Claims specialists manage the claims process transparently and efficiently. Our Fast Track claims handling can help expedite payment of small, simple claims.
Claims specialists solicit ideas for improving service.
Risk engineers
16 high quality specialists
During the quotation stage, our risk engineers evaluate the information at hand, research risk exposures based on Liberty’s global experience, and deliver risk selection advice to the underwriting team. This gives all parties a clear understanding of exposures and appropriate mitigation measures.
When necessary, our risk engineers carry out site surveys to meet clients on home turf. This helps gain a clear insight into the complexities of their business operations and exposures.
Our risk engineers are proud to share their specialised knowledge with brokers through training programs and presentations.
Chemical Construction Environmental Ergonomics Fire/life safety Industrial hygiene Manufacturing Occupational health and safety Marine Oil and gas Petrochemical Power generation Product liability
Railroad Mining Steel and metal manufacturing Pharmaceuticals/life sciences Semiconductors Pulp and paper Telecommunications Food and beverage Roads/tollways Logistics Water storage and desalinisation plants Tunnelling Commercial property
Industries where our expertise shines
Solutions to support businesses of all sizes
Weather
Mergers & Acquisitions
Excess Workers Compensation
War & Terrorism
Financial Risk Solutions
Environmental Impairment Liability
Property
Marine
Crisis Management
Accident & Health
Surety
Energy
Construction
Professional & Financial Risks
Casualty
Our broad range of products
We offer protection from the increasingly complex liability risks faced by today’s professional world.
This is one of our flagship lines of insurance, and we’re regularly first to market with innovative products that reflect changing market trends. As a product line characterised by long-tail and complex claims, you can rely on our stability and continuity to be there for clients when they need it most.
Capacity:
Professional Indemnity $5m Directors and Officers Liability $25m Environmental Impairment Liability $25m
Cyber $15m Statutory Liability $20m Financial Institutions & Services $25m
Sophisticated product wordings and a broad risk appetite mean that Liberty can cover a spectrum of liability risks, from small to medium enterprises, specialist associations through to large corporations.
We have considerable experience in construction and infrastructure projects, as well as high-hazard risks associated with US exports, chemical/petrochemical plant and offshore oil and gas.
General and Product Liability $50m (Combined Primary & Excess Liability) Excess Workers Compensation Unlimited Environmental Impairment Liability $25m
Financial Loss Liability $25m (claims made basis) Statutory Fines and Penalties $5m
We have the business appetite, capacity and in-depth understanding of the most technically complex risks. This means we can provide effective insurance cover for major infrastructure and construction projects.
At the other end of the scale, we also provide comprehensive cover – especially multi-product solutions – to smaller and less complex projects.
$50m
The oil, gas, chemical/petrochemical and power generation industries pose complex risks requiring sophisticated insurance cover.
We cover Industrial Special Risks, such as fires, explosions, natural perils, machinery breakdown and business interruption. Our risk engineers’ advice is key to tailoring the best-fit insurance cover.
Designed to protect a range of businesses or enterprises with assets valued from $15m and above. We protect property, physical assets and business interruption against damage from fire, storm and other insured perils.
Our public relations endorsement is recognised as a valued option to help clients focus on getting their business back on track as quickly as possible after a loss. In Asia Pacific we offer a fast-track property claims service for claims less than $25k.
up to $150m per risk insured
If you have clients who are transporting cargo, operating a commercial fleet, building a vessel or running a project that relies on the transit of goods – our marine team will make sure you’re in safe hands.
We offer an online quotation system to make it easy to transact with us, and our fast track claims service means claims less than $25k can be taken care of quickly and efficiently.
General Cargo $100m Project Cargo and Delay in Start up Products $100m Marine Liabilit $50m
Builders Risk $25m Commercial Hull (lead in Asia, coinsurance line in Australia) $7.5m
We protect businesses from the negative impact that an event can have on their reputation.
Clients have exclusive access to our panel of consultants who can assist you in the event of a claim. We’ll pay these costs for 12 months from date of loss. The panel consists of food technologists, crisis management consultants, malicious product tamper experts and PR consultants.
Contaminated Products $15m Kidnap, Ransom & Extortion $25m Product Recall $15m
Australian companies and organisations can rely on us to protect their people at home in Australia and abroad.
Our custom designed and built transaction platform makes it straightforward for brokers to quote and bind our suite of Corporate Travel, Expat and Group Personal Accident and Sickness policies. Our comprehensive products are backed by a locally based Claims and Emergency Assistance experience.
We offer companies a range of surety bonds and guarantees, as an alternative to bank guarantees.
We write more than US$1b in surety premiums every year. Our bond capacity is one of the highest offered in the global surety marketplace. We support mid-size businesses, right up to leading global multi-national corporations. Clients benefit from our global capabilities and local expertise through our regional network and global offices.
Types of bonds on offer:
Performance & maintenance Advance payment Bank-fronted and syndicated structures Bid/tender Council Customs/deferred duty
Performance Regulatory guarantees Retention Shipbuilder's refund guarantee Supply Workers' Compensation
Decommissioning/ rehabilitation Deposit Import/export quota Lease Maintenance Offsite materials
We offer protection from a pollution incident beyond the third-party liabilities typically covered in a general business liability policy.
There are increasing regulatory obligations for cleaning up environmental incidents, and brand damage recovery costs can be substantial. This is a relatively new line of insurance that can protect a wide range of industries from potential losses.
Fixed-site pollution liability $25m
Contractors Pollution Liability $25m
Businesses face a range of risks, especially when venturing into emerging markets. Where these risks come from government intervention, contract frustration, political violence or credit default, our global Financial Risk Solutions team has both the experience and capacity to help.
On our team we have experienced underwriters and analysts. They each bring their own specialist skills, experience and understanding of both global credit and political risks – to craft insurance solutions that best suit our clients.
Political instability is an unfortunate reality around the world, and terrorist attacks are on the rise.
Liberty is a market leader in writing a worldwide book of war and terrorism insurance cover for a range of terrorism risks across a spectrum of industries.
$250m
Workers Compensation
In Australia, we’re a specialist insurer for Excess of Loss Workers Compensation.
We’ve been offering competitive and tailored reinsurance programs for Self Insurers since 2001. In Singapore we offer primary cover through our Workplace Protect policy.
Unlimited statutory protection in Australia Common Law limited to SG$30m as per Singapore Statute
The Liberty Global Transaction Solutions team is known for executing the largest and most complex deals in the region.
The team offers a range of solutions for transactional risks, including:
$200m
Warranty & Indemnity Tax Indemnity & Tax Credit
Contingent Risk After the Event Insurance
Even if a business knows how normal weather affects its earnings, unexpected extreme weather events present their own risks.
Whether accumulated rainfall, wind speed or average temperature, there are a wide range of scenarios where a tailored insurance solution can be considered for protection against losses or damages incurred because of adverse, measurable weather conditions. This includes products specifically designed for construction companies, outdoor event operators and forestry plantations.
Type of solutions:
Parametric Weather Index solutions based on weather data Forestry Bushfire Insurance drawing on satellite imaging technology
Follow us on
for our latest information and news
Scan with your phone camera
Liberty is not authorised to provide financial product advice. The information in this document does not take into account your objectives, financial situation or needs. Always consider the applicable policy wording and other relevant documents before deciding to acquire a financial product. This information is current as at 11 March 2024. Liberty means Liberty Specialty Markets, a trading name of Liberty Mutual Insurance Company, Australia Branch (ABN 61 086 083 605; AFSL No. 530842 (for claims handling and settling services only)) incorporated in Massachusetts, USA (the liability of members is limited); Liberty Specialty Markets Hong Kong Limited (UBI 66395065); Liberty Specialty Markets Singapore Pte Limited (UEN 201538069C); and Liberty Specialty Markets Singapore Pte Limited, Labuan Branch (Company No. LF12903), a licensed insurer under the Labuan Financial Services and Securities Act 2010 (Licence No. IS2016162).
Thank you
libertyspecialtymarketsap.com
