What Planned Cover does

Planned Cover (legal entity IBL Limited, ABN 65 005 754 718) is an Australian insurance brokerage founded in 1974, operating under Australian Financial Services Licence 231203 and headquartered in Melbourne with offices in Sydney, Brisbane, Adelaide, and Perth. The company specializes in risk solutions for design professionals in the built environment - architects, engineers, quantity surveyors, valuation advisors, and related professional service firms - and is a wholly owned subsidiary of the Australian Institute of Architects. The core product portfolio comprises Professional Indemnity Insurance, Management Liability Insurance, and Design & Construction Insurance, complemented by an extensive commercial suite (business, public liability, contract works, motor, property owner, equipment, travel), Cyber Insurance, and a personal insurance range distributed through the Planned Life Cover arrangement with Steadfast Life Pty Ltd.

The business operates as a Steadfast Network Broker with a hybrid distribution model: it acts as a broker on behalf of clients (personal and general advice) and as an agent of insurers under binding authority agreements, administering policies and managing claims. Revenue is generated through insurer commissions (0-33% depending on insurance class), premium funding commissions (0-3.25%), service fees, and claims management/profit commission from underwriting performance. Additional trading divisions include Informed by Planned Cover, Focus Underwriting, and Tasman Underwriting, extending the firm into wholesale and underwriting agency activity.

The go-to-market is relationship-led and endorsement-driven, leveraging 50 years of brand presence, formal endorsements from the Australian Institute of Architects, Design Institute of Australia, and Planning Institute of Australia, plus a structured risk management advisory layer (seminars, contract review, practice guides). The firm serves a concentrated mid-market to enterprise client base, with multiple named relationships exceeding 20 years of continuous tenure. No external funding, M&A, or AI/technology platform signals are present in available data, indicating an organic, mature brokerage operating within established regulatory and distribution boundaries.

Name

Planned Cover

Legal name

IBL Limited

Website

https://plannedcover.com.au

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

Planned Cover is an Australian insurance brokerage (legal entity IBL Limited) founded in 1974 that provides professional indemnity, management liability, construction, commercial, cyber, and personal insurance to design professionals in the built environment across five Australian cities.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ), Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)

Keywords

• Commercial insurance brokerage
• Professional indemnity insurance
• Risk management services
• Design professional insurance
• Construction insurance

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Insurance Commission: Commission paid by insurers on placed insurance policies, calculated as a percentage of the insurance premium. Commission rates range from 0% to 33% depending on the class of insurance. This is the primary revenue stream for the brokerage.
2. Premium Funding Commission: Commission received from premium funders when arranging premium funding contracts for clients. Commission rates range from 0 to 3.25% of the funded premium.
3. Service Fees: Fees charged to clients based on the amount of work required to provide services. These are shown on invoices sent to clients. Retail clients receive disclosure of commission dollar values on invoices.
4. Claims Management Fees: When acting as agent of an insurer, commission may include claims management fees for managing claims on behalf of the insurer. Additional profit commission may be received based on underwriting and claims performance.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Planned Cover is an Australian insurance brokerage that arranges tailored commercial and professional insurance products—primarily Professional Indemnity, Management Liability, Design & Construction coverages—alongside personal insurance lines for design professionals such as architects, engineers, and quantity surveyors operating in Australia's built environment. The brokerage also provides value-add risk management advisory including practice guides, contract reviews, and risk management seminars, operating as a Steadfast Network Broker under Australian Financial Services Licence 231203.

Product overview

Planned Cover offers a comprehensive portfolio of insurance products and risk management services tailored for design professionals in Australia's built environment industry. The core offering includes Professional Indemnity Insurance, Management Liability Insurance, and Design & Construction Insurance as the primary professional coverage suite. This is complemented by an extensive Commercial Insurance suite covering Business/Office Insurance, Public Liability Insurance, Business Travel Insurance, Commercial Motor Vehicle Insurance, Commercial Property Owner Insurance, Contract Works & Liability Insurance, and Equipment/Machinery Insurance. The company also provides Cyber Insurance and a full Personal Insurance range including Life Insurance, Income Protection, Total and Permanent Disability, Trauma, Key Person, and Buy Sell Insurance. Risk management advisory services including Practice Guides, Risk Management Seminars, and Contract Review are offered as value-add services. The product architecture follows a bundled approach where professional and commercial coverages are often combined, with personal insurance and risk advisory services provided as complementary offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Professional Indemnity Insurance

Quantifiable outcome

• Client relationships spanning 15-25+ years demonstrate sustained trust and service delivery

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Australian Institute of ArchitectscoreStrategic or Co-development PartnerIBL Limited (trading as Planned Cover) is a wholly owned subsidiary of the Australian Institute of Architects. This parent-subsidiary relationship provides strategic alignment with the architectural profession and access to industry endorsement opportunities. Despite the ownership, IBL Limited is managed as a separate entity and does not disclose individual client information to the parent.
• Steadfast Group LimitedcoreChannel Partner/ Reseller/ DistributorIBL Limited is a Steadfast Network Broker. Steadfast has arrangements with insurers and premium funders who pay fees to access the Steadfast Broker Network. Steadfast is also a shareholder in some partner insurers. As a network broker, Planned Cover has access to member services including model operating and compliance tools, legal and HR support, group insurance arrangements, claims support, and broker support services.
• Steadfast Life Pty LtdminorStrategic or Co-development PartnerPartnership to create 'Planned Life Cover' which sells life insurance products to Planned Cover clients. IBL Limited receives income from products sold via Planned Life Cover. Services are delivered under Steadfast Life Pty Ltd's Australian Financial Services Licence (421904), with separate FSG documentation provided to clients.
• Design Industry Associations (Endorsed Partners)coreGTM or Marketing PartnerPlanned Cover is proudly endorsed by multiple design industry associations including the Australian Institute of Architects, Design Institute of Australia, and Planning Institute of Australia. These endorsement logos are displayed prominently on the website, indicating formal endorsement relationships that support market credibility and client acquisition within the design professional community.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Marsh (Australia): Global insurance brokerage operating in Australia with a strong professional and specialty lines practice — direct overlap on PI, design & construction, and commercial package placements for built-environment clients.
• Aon (Australia): One of the two global insurance and reinsurance brokerages with material Australian presence, serving professional services firms with PI, cyber, and management liability — directly comparable product and customer base, but at vastly larger scale and broader portfolio.
• Arthur J. Gallagher & Co (Australia): Global insurance brokerage with substantial Australian operations serving professional services, construction and commercial clients — directly overlapping product suite (PI, management liability, commercial package) but at much larger scale and broader vertical remit.

Direct peers

• Honan Insurance Group: Australian mid-market specialty insurance broker with strong professional and commercial lines focus across design, construction, and professional services — directly comparable niche positioning, headcount scale, and Steadfast-aligned distribution model.
• Insurance House (PIB Group): Australian specialty insurance broker serving design, professional services and construction sectors with PI and management liability — directly comparable specialty focus and customer segments to Planned Cover.
• Coverforce: Australian insurance broker network supporting small-to-mid-market commercial clients with a multi-product offering including professional indemnity and business packages — closely aligned size, geographic reach and customer profile.

Others

• Steadfast Group Limited: ASX-listed insurance broker network of which Planned Cover is a member — comparable network economics, support services and carrier access; partial overlap rather than direct competition, though Steadfast-aligned regional brokers compete for similar customers.
• Kennedys (Australia): International insurance law and claims-advisory firm with Australian practice serving design and construction professionals — adjacent to Planned Cover's claims-representation and contract-review services rather than direct insurance placement.

Regional players

• BMS Group (Aust) / Intermediary: International specialist insurance and reinsurance broker with Australian capability across professional, construction and management liability lines — partial overlap in specialty lines, operates at different geographic emphasis.

Emerging players

• BizCover: Australian digital-first commercial insurance broker targeting small business with online PI and public liability placement — competes for entry-tier design practices and contractor accounts that overlap with Planned Cover's commercial book.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/planned-cover

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Planned Cover