Melbourne-based brokerage Insurance Lab has launched in the market with a focus on arranging professional indemnity (PI) insurance for engineering and construction clients including building surveyors, project managers and environmental consultants.

The brokerage, which is a member of the Steadfast Group, is an authorised representative of Victoria-based Elite Broker Network (EBN).  It also offers cyber, management liability, public and products liability, business and office as well as information technology liability risk solutions.

Darren Pavic, who founded the business, says the timing of the launch is good despite the tough market conditions, as rates continue to harden and capacity remains tight.

Mr Pavic says he has the expertise to support clients during a difficult market having worked for more than 20 years with broker Bovill Risk and Insurance Consultants before leaving in November last year. Bovill is the recommended PI broker of the Australian Institute of Building Surveyors.

“I have a long track record of placing challenging PI risks where others haven’t been able to,” he told insuranceNEWS.com.au. “I understand my client’s business and I know how to present to insurers.

“In many ways, my timing is very good and I’m not deterred by the hard market. For me it’s very much a long-term game.”