We have become the first local New Zealand provider to offer $30 million limits for some of our specialist liability lines of business, which is great news for both brokers and insureds. We have effectively doubled our liability cover by partnering with independent managing agent at Lloyd’s, Antares, through its Syndicate 1274.
The partnership means we will become the first local Kiwi provider to offer $30 million limits for some specialist lines of business it provides coverage for – Cyber Insurance, Technology Liability, and Environmental Insurance. The additional capacity will also be available for more mainstream liability coverages that we offer including Professional Indemnity, Directors and Officers Insurance, Financial Institutions and General Liability Insurance, the company said.
Managing Director Ian Pollard said the capacity boost was a reflection of more insureds increasing their liability limits. “New Zealand businesses are increasingly dealing with rapidly changing and complex risk and by doubling our capacity we can now offer a broader range of products and higher limits of insurance to better meet customers’ needs. It’s important that customers can be 100% certain of how our liability products are funded. Transparency is a cornerstone of how Delta Insurance operates and we’re pleased to enter into this coverholder arrangement with Antares,” Pollard added.
The announcement builds on Delta’s existing partnership with Allied World, accessed as a coverholder via Lloyd’s of London.