Why imported products can affect insurer appetite

Insurers may look closely at the type of product, intended use, countries of manufacture, sales territories, quality controls, claims history and the role the Australian business has in the supply chain. Higher-hazard products can require more specialist underwriting.

Insurance commonly considered

Depending on the business, cover may include public and products liability, property and stock, business interruption, marine cargo or transit, product recall where available, and commercial motor.

Information that helps underwriting

Useful information can include turnover by product category, product descriptions, supplier and manufacturer locations, quality-control procedures, testing or certification information, contracts, claims history and maximum stock values.

Clear product descriptions matter

Generic descriptions can make an insurer cautious where the actual product range is broad or technical. We work to present the product exposure accurately so underwriters can assess the risk on its actual characteristics.