Another Rhodian-backed underwriting agency has launched, after marine specialist Marinex began operations on Monday with support from the agencies incubator.

Scope Underwriting opened on Tuesday, focusing initially on contractors all risk and third-party liability covers, with capacity provided by Lloyd’s.

Rhodian CEO Simon Lightbody says the incubator is focused on bringing to market agencies that provide tailored products to brokers.

“The construction industry is a growing sector of the economy and brokers are looking for more capacity to provide choice for their clients,” he told insuranceNEWS.com.au. “Scope will be very much looking to help brokers have an increased range of products to supply to their clients.”

Nick Vernon and Rob Higginson, who started the agency, are co-CEOs. They were most recently with Chase Underwriting – Mr Vernon as construction director and Mr Higginson as head of market management.

“As with any agency, the expertise that lies in the underwriting team is an essential element of success,” Mr Lightbody said. “Both Nick and Rob come with years of experience gathered while working with brokers to ensure their clients have the most comprehensive cover possible.”

Mr Vernon says the agency was created with flexibility in mind, allowing customised solutions based on the needs of broker clients.

Mr Higginson says Scope identified a gap in the Australian market, where many insurers and underwriting agencies focus on SME business through inflexible online portals or cater solely to large government and international programs for select multinational brokers.

“This leaves mid-market and SME brokers without the specialised support needed to build tailored insurance solutions,” he told insuranceNEWS.com.au.

“At Scope Underwriting, we aim to bridge this gap.”