The National Insurance Brokers Association (NIBA) has recognised Berkley Insurance as the Insurance Company of the Year and named GT Insurance as its inaugural Underwriting Agency of the Year.

NIBA says the change to the insurer award categories recognises that brokers deal with underwriting agencies, or managing general agents, as well as companies operating in the local market that are authorised by the Australian Prudential Regulation Authority.

GT Insurance CEO Tony Dodd says the firm, a subsidiary of Allianz, is honoured to receive the award and welcomes the decision to recognise the contribution of underwriting agencies.

“The evolution of trust in underwriting agencies in the Australian insurance market has grown significantly over the past decade,” he told insuranceNEWS.com.au. “Agencies have created increased competition which has helped improve customer outcomes and community requirements.”

Berkley started in Australia just over 12 years ago, and CEO Tony Wheatley says the company focuses on “doing the simple things really well”, including having decision-makers with expertise as close to the broker as possible, responding to submissions within hours and issuing policy documents quickly and accurately.

“We pride ourselves on being responsive to phone calls and helping brokers even if we can’t write the risk ourselves,” he said.

The awards, presented last week at the NIBA virtual convention, are based on more than 500 broker responses to an annual survey and the recipients were both ranked in the top two.

Shelley Hymas of Phoenix Insurance Brokers in WA was named winner of the QBE-sponsored Stephen Ball Memorial Award for Insurance Broker of the Year.

The Vero-sponsored Warren Tickle Memorial Award for Young Professional Broker of the Year was presented to Kate Martin of Marsh in Queensland.

Graham Stevens from Melbourne-based Edgewise Insurance Brokers in Victoria received the Lex McKeown Trophy for lifetime achievement.

Mr Stevens has served on the NIBA board for more than 13 years, including a term as president, has chaired the World Federation of Insurance Intermediaries and has worked in the international broking arena and in his own brokerage businesses.