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25 years, 22 product lines, 450+ team members, 20,000 clients and one billion dollars in annual gross written premium. What a journey we're on in Australia. When I first started up this business in 1999 I really had no idea of the growth potential we had. We started in our early days giving  “hard to place” insurance risks a home. Today we craft commercial and specialty insurance solutions for companies of all shapes and sizes, from Australia’s largest companies and government organisations, right through to micro start-ups.

For me, satisfaction always comes from working with our broker partners to really get to know clients, understanding what they need today and are likely to need tomorrow. We know that business never stands still and we take great satisfaction being by our client’s side on their journey – be that through technological innovation, royal commissions or regulatory change.

What an honour to lead Liberty’s growth into a billion-dollar Australian insurer and to do that with such a loyal and dependable team of people. A lot has changed over the past 25 years, but there is also plenty at our core that really stays the same. We’ve worked to capture insights into who we are and what makes us tick. I can’t wait to see where the next 25 years take us.

Mike Abdallah

President & Managing Director Asia Pacific

1-5

What we’ve learnt

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Liberty Specialty Markets has spent 25 years constantly evolving to deliver the confidence and continuity Australian brokers and clients need in the face of risk and uncertainty. Under the perpetual leadership of Managing Director Mike Abdallah, we’ve delivered 24 years of continuous profitability, ensuring the shared success of our people, policyholders and partners.

Liberty is part of Australia’s growth story. We’ve taken the lead in insuring many businesses and initiatives in Australia, playing a role in most major infrastructure projects, covering everything from bridges, roads, mines, waste treatment plants to hospitals and prisons.

With Australia now one of the largest global growth regions for renewable energy projects, we’re seeing our Energy portfolio rapidly evolve as we support the transition from conventional power risks to renewable energy projects.

Casualty claims have also changed a lot in our 25 years. The days of single party actions are over, and we’re well equipped to manage the increasing complexity of casualty claims and navigate the myriad of parties involved.

From small origins back in 1999 to now being the largest professional and financial lines insurer in Australia, in part one of our 25 Perspectives for 25 years series we reflect on what we’ve learnt.

From 10 people with fax machines in 1999, to today being a team of 450 using transformational technology. We’ve come a long way in 25 years.

Mike Abdallah
President & Managing Director Asia Pacific

1

Where 25 years has taken us

by the Liberty team

2

Two decades of profitability through the fine art of managing market cycles

by Mike Abdallah

3

Taking the lead in building Australia

by Brett Gardiner 

4

02:00

Energy agility

by Sara Sampaio Soares

5

02:00

Increasing complexity of 
casualty claims

by Richard Jessup

6-10

Importance of long-term partnerships

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Experience has shown that a long-term tripartite relationship between broker, client, and Liberty creates a sound foundation for long-term success. Close partnerships enable Liberty to get to the heart of every client’s business to understand their risks, objectives, and how we can best tailor insurance to their unique needs.

While Liberty forged our reputation in Australia on big and complex risks, today we partner with business and government organisations of all shapes and sizes.

We focus on being an insurance partner, not just an insurance supplier, with our team of underwriters, risk engineers and claims professionals getting to know clients and how to support their evolving operations.

Whatever their size, our clients have the security of knowing that, as a mutual, we’re committed to their shared success and offer stability and peace of mind, even during turbulent times.

We explore the true value of partnerships in part two of our 25 Perspectives from 25 Years series.

In Queensland alone, Liberty has more than 50 clients that have insured with us for over 20 years.

Helen Brand
Vice President, Head of Strategy, Risk & Planning, Casualty & PFR and QLD Branch Manager

6

Enduring partnerships

by Helen Brand 

7

An Insurance partner, not just an insurance supplier

by the Liberty team

8

Meeting the needs of mid-size companies

by Ben Hissey

9

02:20

Strength of partnerships in the rising cost of property claims

by Joel Proud

10

00:50

The benefit of insuring with 
a mutual

by the Liberty team

11-15

Here when you need

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No matter the size of a client’s business or how significant a claim might be, at Liberty we understand that insurance claims are about more than money – they all involve people dealing with loss. That’s why we put people first and prioritise relationships.

When a Sydney pharmacy was forced to close due to severe smoke damage, Liberty’s loss adjuster was there within two hours—and the pharmacy was back in business six weeks later. Another client – a food manufacturer - found their livelihood at stake due to a third party packaging issue and Liberty’s Claim’s Recovery team helped them recover $750,000 in uninsured losses. We’re one of few insurers to offer this recovery service.

Not all claims can be concluded swiftly. Complex commercial claims can disrupt both businesses and lives for many years. Construction claims usually involve complicated contractual obligations, and increasingly frequent environmental pollution claims are catching businesses by surprise. These specialty claims require technical skills, a focus on solutions, and importantly, an empathetic human touch.

Part three of our 25 Perspectives from 25 Years series looks at what it means to have Liberty here when you need us.

Over the past 25 years, we have been there for our clients through the worst of weather events, raging bushfires, cyber-attacks, oversight and inadvertence.

Robert Mercer
Head of Claims for Asia Pacific

11

The art of specialty claims

by Robert Mercer

12

02:00

Helping recover

by Jon O’Riordan

13

02:45

Speed matters

by Blooms the Chemist

14

03:00

Claims+ for construction clients

by Samantha Thorndike

15

02:20

Think you don’t have any environmental contamination exposure? Think again. 

By Alan Thorn

16-20

Finding solutions

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Liberty bucks the trend towards one-size-fits-all industry solutions by tailoring protection to precise needs. This includes businesses in industries that have historically found it hard to get cover as they are risky, difficult, dangerous or specialised.

Liberty’s portfolio includes liability programmes for mum and dad type speciality businesses, right through to highly tailored covers for 81 of the S&P ASX100. We understand the lifecycle risks unique to the diverse companies in mining and resources and work in partnership with them from exploration through to closure and reclamation.

We're are also committed to staying ahead by tracking risks as they emerge. Liberty was the first insurer in Australia to introduce an in-house risk engineer dedicated to Professional Indemnity construction risks, and produce a lot of risk engineering insights to help brokers and clients understand evolving exposures, including PFAS forever chemicals. Liberty is also pioneering innovative parametric insurance covers to help businesses protect their earnings from the impact of extreme and unpredictable weather.

Part four of our 25 Perspectives from 25 Years series takes a deep dive into our tailored solutions.

Liberty is able to provide liability cover for many businesses that get blacklisted as uninsurable industries by general insurers.

Natalie Manton
Assistant Vice President, Asia Pacific

19

The enduring impact of PFAS 'forever chemicals'

by Angelo Maniatis

16

Giving hard to place small businesses a home

by Natalie Manton

17

West side story: The art of staying the course with Australia’s mining industry

by the Liberty team

18

1:45

First insurer to have a risk engineer for PI construction risks

by Tim Bugg

20

New ways of insuring against extreme weather

by Michael Lincoln

21-25

Market outlook

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The all-important tripartite relationship we foster between client, broker and insurer focuses more on making informed purchases than pricing alone. Establishing relationships that are less transactional and more enduring resonates deeply with our clients.

In a softening market, it can be tempting to shop around for the lowest price – but the cheapest solution may not be the best. Many of our clients first joined Liberty when market conditions forced their incumbent insurers out of the market. As a mutual, we offer consistency through fluctuating conditions and are invested in the shared success of our clients and broker partners.

Liberty continues to provide protection for complex and emerging risks, including substantial support for Australia’s transition to renewable energy. While the risks associated with artificial intelligence (AI) are still too ill-defined for one definitive AI insurance policy, several of our existing policies can work seamlessly together to provide comprehensive cover. As cyber security continues to evolve we’re keeping our clients and broker partners abreast of the latest developments and best practice for protecting against new and emerging risks. As Australia’s largest product recall insurer, we also help clients prepare for the unexpected and our fun Recall Believe it or Not shines a light on some of the more bizarre recalls that companies now find themselves exposed to.

In part five of our 25 Perspectives from 25 Years series we delve into the market outlook and the trends and emerging risks shaping the sector now and in the future.  

As well as sustainability in underwriting, we’re looking for sustainability in the industries involved. We want to see our clients succeed. 

Todd Woodard
Head of Underwriting Professional & Financial Risks, Asia Pacific

21

The art of enduring relationships

by Marcus Thomas

22

Insuring Australia’s energy transition

by the Liberty team

23

Recall: believe it or not

by Shelley Devane

24

Navigating AI risks in insurance

by Rian Wickens

25

Enhancing your cyber defence strategy

by David Gallagher 

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