Tasman Underwriting

What Tasman Underwriting does

Tasman Underwriting is an Australian underwriting agency specialising exclusively in Professional Indemnity (PI) insurance, operating as a trading name of IBL Ltd under Australian Financial Services Licence 231203. Established in 2001, the firm is 100% underwritten by Lloyd's of London and offers PI coverage across roughly 70 professional categories, split into Miscellaneous PI (limits up to A$10 million on Civil Liability wordings) and Construction/Engineering PI (limits up to A$5 million), plus specialised wordings for Marine Surveyors, Insurance Brokers, and Accountants/Auditors. Distribution is exclusively B2B2C through licensed Australian insurance brokers; Tasman does not sell direct and provides brokers with downloadable proposal forms, policy wordings, and profession-specific addendums to support submission and renewal workflows.

The operating model is a traditional, human-capital-driven underwriting agency rather than a technology platform. There is no proprietary technology stack, no API, no mobile app, and no AI/ML layer described. Underwriting decisions, quote generation, and claims handling are performed by a six-person leadership team (plus support staff, total headcount of 7) supported by an expert panel of external lawyers and investigators for claims assessment. Document-based processes (proposal forms, COVID-19 questionnaires, No Claims declarations, claims forms) form the core operating infrastructure, with Tasman Underwriting providing the underwriting judgement and Lloyd's providing the balance-sheet capacity.

Revenue is generated through PI insurance premiums on policies underwritten by the team, with claims handling, expert panel access, and broker support services offered as part of the embedded offering. The firm operates from a Melbourne headquarters (Level 5, 41 Exhibition St) with a Western Australia branch in Perth; offices are not disclosed elsewhere. Tasman Underwriting is privately held with no disclosed venture capital, private equity, or institutional investor involvement, and is governed by APRA-regulated Lloyd's capacity arrangements rather than a parent insurer relationship.

Name

Tasman Underwriting

Legal name

IBL Ltd

Website

https://tasmanuw.com.au

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

Tasman Underwriting is a Melbourne-based, Lloyd's of London-backed underwriting agency specialising in Professional Indemnity insurance for Australian professionals, serving 70+ occupations exclusively through insurance brokers.

Ownership category

akta.pro rank

Product category

Professional Indemnity Insurance

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Professional Indemnity Insurance
• Underwriting Agency Services
• Insurance Broker Distribution
• Construction Professional Liability
• Miscellaneous Professional Coverage

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Professional Indemnity Insurance Premiums: Tasman Underwriting generates revenue through insurance premiums collected from professional clients (accountants, engineers, consultants, construction professionals, and other miscellaneous professionals) who purchase PI coverage. As a Lloyd's backed underwriting agency, they underwrite policies and earn premium income. Policy types include Construction/Engineering PI (limits up to $5M), Miscellaneous PI (limits up to $10M), Marine, Insurance Brokers PI, and Accountants PI.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Tasman Underwriting is a Lloyd's-backed underwriting agency that underwrites and issues Professional Indemnity insurance policies for Australian professionals, distributed exclusively through insurance brokers. The product portfolio spans Construction/Engineering PI (limits up to $5M), Miscellaneous PI covering 70+ professional categories (limits up to $10M), Marine PI, Insurance Brokers PI, and Accountants PI. The company also delivers in-house claims handling supported by an expert panel of lawyers and investigators.

Product overview

Tasman Underwriting is a Lloyd's backed underwriting agency offering a unified Professional Indemnity Insurance platform across multiple sectors. The core portfolio includes Miscellaneous PI (covering 70+ professional categories up to $10M), Construction PI (engineering and building professionals up to $5M), Marine PI, Insurance Brokers PI, and Accountants PI. The company provides supplementary products including proposal forms, policy wordings, and profession-specific addendums. All offerings are backed by Lloyd's of London and supported by an expert panel for claims assessment and settlement.

Differentiator

Problem solved

Functional benefit

Products and services

• Professional Indemnity Insurance – Construction / Engineering Professional Indemnity insurance on Civil Liability wordings for construction and engineering professionals (architects, consulting engineers, design & construct builders, land/engineering surveyors, mechanical/electrical/HVAC/hydraulic engineers, environmental engineers, project/construction managers, town planners) with limits up to $5M. Distributed exclusively through insurance brokers in Australia.
• Professional Indemnity Insurance – Miscellaneous Broad Professional Indemnity insurance covering 70+ non-engineering professional categories including accountants, advertising agents, AFS licensees, consultants, insurance brokers, real estate agents, migration agents, marine surveyors, marketing/PR consultants, environmental consultants, and other miscellaneous professionals. Limits up to $10M on Civil Liability wordings. Distributed exclusively through insurance brokers.
• Professional Indemnity Insurance – Marine Specialist Professional Indemnity insurance for marine surveyors and other maritime industry professionals, with a dedicated Marine policy wording available.
• Professional Indemnity Insurance – Insurance Brokers Specialised Professional Indemnity insurance tailored for insurance brokers and loss adjusters, with a dedicated Insurance Brokers (IBPI) policy wording and Insurance Brokers addendum.
• Professional Indemnity Insurance – Accountants Professional Indemnity insurance designed for accountants and auditors, supported by a dedicated Accountants (ACC) policy wording and Accountants addendum.
• Professional Indemnity Claims Handling Service In-house Professional Indemnity claims assessment and settlement service led by the Head of Claims, drawing on an external expert panel of lawyers, investigators and other professionals to deliver prompt decisions and best-possible claim outcomes for brokers and their insured clients.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves1 record

Direct peers

• Honan Insurance Group: Australian insurance broker and underwriting agency providing specialty products including professional indemnity. Operates with a similar broker-focused distribution model in the Australian market.
• Dual Australia: Lloyd's-backed Australian managing general agent offering specialty lines including professional indemnity. The most structurally similar peer to Tasman — a Lloyd's-backed MGA writing PI through broker distribution in Australia.

Broad incumbents

• Hollard Insurance Australia: Large Australian insurance group with underwriting agency operations across multiple specialty lines including professional indemnity — operating a similar MGA-style model but at materially greater scale.
• CGU Insurance: Major Australian insurer (IAG-owned) offering professional indemnity as part of its commercial lines portfolio, competing for similar construction, engineering, and miscellaneous professional services clients.
• Allianz Australia: Major Australian insurer offering professional indemnity as part of its broader commercial portfolio. A broad incumbent with materially greater scale than Tasman across multiple lines and distribution channels.
• QBE Insurance Australia: Major Australian insurer with significant professional indemnity offerings for various professions. A broad incumbent competing across multiple PI segments including construction and miscellaneous professional services.
• Chubb Australia: Major global insurer with an established Australian professional indemnity business targeting mid-market and larger professional services firms via broker distribution.
• AIG Australia: Major global insurer with professional indemnity and management liability offerings in Australia, competing for similar professional services clients via broker channels.
• Vero Insurance: Major Australian insurer (Suncorp-owned) with professional indemnity offerings for professional services firms, competing across similar miscellaneous and construction PI segments.

Others

• Arthur J. Gallagher & Co (Australia): Global insurance broker placing professional indemnity and other specialty lines. Operates as a distribution channel and broker-panel competitor rather than a direct underwriter, but materially shapes broker placement decisions for Tasman.

Market position

Strengths4 records

Weaknesses4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tasman-underwriting

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Tasman Underwriting