Coastal Financial Services has opened a corporate and risk advisory business led by one of its directors, Derek Wickett.

Acuity Risk Solutions, which comes under the same licence as Coastal Insurance Brokers, operates from Melbourne’s CBD.

It was created so Mr Wickett can focus on his specialty – professional indemnity and directors’ and officers’ liability.

Mr Wickett told insuranceNEWS.com.au the new role is a “refinement” of what he has been doing for the past 20 years.

“My goal is to service a range of clients in various different professions,” he said.

Acuity will target businesses in challenging industries or activities that are difficult to categorise.

Where insurance is inappropriate or a risk profile does not lend itself to being transferred, Acuity will gather advisers and specialists to understand and mitigate the exposure.

Mr Wickett, who joined Coastal last year, says Acuity will find tailored products or develop products that match clients’ specific needs.

Acuity will also be an independent resource for larger clients, helping them run tenders.

It is working with a number of specialist businesses to provide more extensive knowledge to clients. These partnerships will be announced shortly.