Mechanical and Construction Insurance (Mecon Insurance) is the latest insurer to take advantage of the favourable market conditions in Australia. The Sydney-based engineering insurer, which is underwritten by South African-based Hollard Insurance Company, says it’s “well placed to provide secure, innovative engineering insurance” to the Australasian insurance market.

Glenn Ross, the former National Engineering Manager of Lumley General Insurance, is the group’s MD. He told Sunrise Exchange News yesterday the biggest goal for the group is to reinforce its name as a leading force in the niche engineering insurance market.

“What sets us aside from our competitors is our unique, tailor-made products,” he said. “The response from intermediaries so far has been overwhelming,” Mr Ross said.

Mecon’s specialties include project insurance (single and annual), contractors’ plant insurance and comprehensive breakdown.