New underwriting agency London Australia Underwriting (LAU) has opened its doors for business in Sydney, specialising in professional indemnity, directors’ and officers’ and financial institutions insurance.

Directors Steve Walker and Declan Rye combine 29 years of liability underwriting experience.

Mr Rye was a manager at Resource Underwriting Pacific specialising in liability products and Mr Walker has worked within the Lloyd’s network. He is a specialist in bankers blanket bond, investment managers, crime and computer crime cover.

Mr Rye says LAU will only use authorised Lloyd’s security.

“There was a good opportunity to raise the standards of service and products offered in Australia,” he said. The assistance of key underwriters from supporting syndicates “has enabled the agency to create a portfolio of specialist products”.