Berkley Insurance Australia is the new security underwriter for business protection products offered by Specialist Underwriting Agencies (SUA), which has been tied to Axis Specialty since 2010.

The new underwriting partnership to cover SUA’s business practices and corporate practices protection products took effect last week.

“It’s an ongoing arrangement,” SUA director John Iles told insuranceNEWS.com.au.

“It basically replaces the current agreement we have with [Axis]. Everything from the brokers and clients’ perspectives will be identical.”

Other potential replacements for Axis were considered, but Berkley’s strengths, including its ability to support SUA, proved decisive, Mr Iles says.

“They understand what SUA is all about and the products we offer and they are happy to provide the level of support we need. We like the fact Berkley is a strong player in the financial lines space and an innovative insurer.”

In the past few months Berkley has announced deals with Arena Underwriting and Community Underwriting.

“It’s consistent with our strategy of partnering with intermediaries that have a niche, whether that niche is due to technology, product, knowledge or relationships,” Berkley National Facilities Manager Christian Garling told insuranceNEWS.com.au.