Corporate Profile 0019 Maintaining long-term, continuous relationships with foreign market, which continues to persist. This easing in the market capacity providers can prove beneficial in such times. is not universal, with programs that involve high-profile risk issues such as coal mining, recycling, food and beverage risks Insurers continue to request, and comprehensively review, with hazardous EPS and properties with combustible cladding policyholders’ contract documents (both upstream and remaining difficult to place. downstream). In doing so, they are scrutinising detrimental contracting provisions. Policyholders with poor contract Some liability covers, including those for bushfire, sexual administration processes and those who provide ‘no-fault’ abuse, nightclubs and other recreational facilities also indemnities or otherwise prejudice defence/recovery continue to present challenges. Additionally, the extent of the of claims, will face policy limitations to reduce insurers’ devastating floods on the insurance market is yet to be fully exposure to such indemnities. known, and we are monitoring this very closely. Where a policyholder can demonstrate good contracting As always, in order to avoid surprises, it is essential to provide regimes insurers will look upon this favourably. Insurers are detailed information and clarification to potential markets moving away from offering blanket contractual liability cover to differentiate risk and ensure the best possible terms and except where rigorous risk management is embedded in the conditions of cover are obtained. Given the workloads of organisation. insurers in this space we have observed that by engaging with the market early to allow sufficient time for negotiation While this shift back to Australia is saving some clients prior to your renewal date, more favourable outcomes are money, it comes against the backdrop of a four-year long hard achieved.