Queensland-based Gold Seal Risk Management has teamed up with US program underwriting group Lighthouse Companies to offer agents and brokers new professional liability coverage for large, privately held insurance agencies.

Art Seifert, President and CEO of Lighthouse Companies, says the new company, ProGold is ideal for large regional brokers and agents with employee training programs and fiduciary trust guidelines that are looking for stable costs and growth in their bottom line.

Gold Seal MD Valerie Baker says the aim is to standardise risk management practices and take loss prevention to a new level in the US market.

She says the product will provide insurance intermediaries with a risk managed professional indemnity, directors’ and officers’ and employment practices liability cover.

“The market there is quite hard and many of the carriers are anxious to adopt a risk-managed program that is subject to continuous audit and review by an external party.”