360 is a proud partner of AUB Group Limited (ASX:AUB)

The 360 Group of Companies is excited to update you that 360 Quick Construct is now available on the 360 Compass Web-Portal!

360 Quick Construct is a specialist underwriting agency developed to provide a suite of construction insurance solutions, including:

+ Annual Construction
+ Project Specific
+ Owner Builder

We are committed to delivering tailored solutions to meet the unique needs of our broker and client relationships. Our team of insurance professionals is dedicated to making it easy to do business by offering personal service and simplifying complex processes. With the capacity, capability, and authority to meet the specific needs of your clients, we provide flexible insurance products to suit a wide range of construction projects.

Our custom-built Compass platform offers our broker partners seamless solutions, enabling full policy lifecycle management with real-time rating for all Quick Construct products, ensuring streamlined processes and exceptional service delivery.

These products will be available on the 360 Compass Web-Portal for our Construction brokers from 2 December 2024.

360 Quick Construct is led by Lucas Benson who is excited to bring these solutions to the market:

“We are thrilled to have 360 Quick Construct available on the Compass portal for our broker partners. This will significantly enhance our ability to provide higher service levels, allowing us to spend more time strengthening relationships and delivering the solutions our partners need. While the portal allows 24/7 access for seamless business transactions, we’re always here to assist with more complex risks or any questions you may have.”

Denis Morrissey, Founder and Managing Director of 360 Underwriting Solutions, shares in the excitement:

““As one of our key agencies, we are excited to see the online capability for 360 Quick Construct come to life. This will further strengthen our offering to the market. Congratulations to the entire 360 team for their dedication and effort in bringing this suite of products to the Compass platform.”

For further information please contact the Quick Construct Underwriting Team via quickconstruct@360uw.com.au or visit our website 360uw.com.au

360 Construction and Engineering (360 C&E) business is continuing to build its capability by improving their Machinery Breakdown policy offering in the market.

Backed by QBE, the new and improved Machinery and Electronic Plant Breakdown Product provides even more options to cover your clients fixed pressure, mechanical, electrical, and electronic plant. This means you have the flexibility to choose the right policy to protect the business against the consequences of a breakdown.

360 C&E’s National Underwriting Development Manager for Engineering, Mark Galvin, has been heavily involved in the launch of this product on the 360 Compass platform, and says “I am excited to provide our broker partners a Machinery Breakdown option via our online web-portal, powered by Esentry. It provides easy access to the product and the ability to tailor a policy to suit the individual client needs.”

Scott Luxford, 360 C&E Executive Director concurred, stating “This is a notable development in our growing Construction and Engineering proposition: a great product and solution to our Broker partners, by our skilled team of Underwriters. I am really looking forward to Mark taking this solution to market for our partners.”

Machinery Breakdown is now available to be transacted electronically through the 360 Compass web-portal. Powered by eSentry technology, the portal allows Brokers to easily transact our C&E Products for the whole life cycle of any policy.

CLICK HERE to find out more about 360 Machinery Breakdown.

360 Underwriting Solutions continues to deliver on its promise to be more relevant for Brokers in the Australian market by launching additional Construction capability.

Quick Construct is the newest addition to the ever expanding 360 Group of Companies.

Previously trading as Ensurance underwriting, 360 acquired the Australian business and portfolio in Dec 2019 from Ensurance Limited: an ASX-listed insurance underwriting agency based in the UK.

The name change and 360 reflected branding represents the only change to the product.

Denis Morrisey, Managing Director of 360 is delighted to confirm that the experienced underwriting team and capacity from both QBE and Lloyds remain, enabling us to deliver Solutions Brokers want, Service they expect from People they know.

Quick Construct rounds out and complements 360’s existing Construction product (also backed by QBE). Denis Morrissey states, we now have a clear offering and proposition for both the large and small end of town in terms of construction.

After moving to Australia from the UK in 2008, Mark commenced his underwriting career with HSB and then made the move to Vero. The engineering product has always been a passion and over the following 11 years, Mark honed his underwriting skills and now proudly considers himself to be somewhat of an engineering underwriting expert!

Mark brings this extensive knowledge to 360, along with a desire to further educate his broker partners about this niche product.

His goal is to establish 360’s engineering team as your engineering team, to work together and find solutions for the obvious and not so obvious exposures faced by your clients across a variety of projects and the associated equipment.

Get in touch with Mark as per details below:

National Underwriting Development Manager
P. 02 9056 1475
M. +61 409 027 872
mark.galvin@360uw.com.au

Getting to know Mark:

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If you are a builder or broker in the construction industry it is imperative that you understand the differences between Run-Off and Transfer Annual Construction Works Insurance cover. As you can appreciate, Construction Insurance is one of the most complex areas of Commercial Insurance. This means that any misunderstandings about these policies can leave builders exposed.

What is Annual Construction Insurance?

An Annual Construction Works policy, otherwise known as a Contract Works policy, provides cover for multiple construction projects during the policy period.

It is standard practice in the Australian construction market to provide two optional covers for Annual Construction Works policies that are available to head contractors and builders; these options are Run-Off and Transfer.

What is an Annual Run-Off policy?

Annual Run-Off policies, or Project/Contracts Commencing policies as they are also known, cover projects commencing during the policy period. This run-off cover continues until the construction has ended and If applicable, includes the period of defects liability (even if this is after the policy period has expired).

It is important to note that no cover is provided for projects that commenced prior to the period of the insurance or those that do not meet the characteristics specified in the schedule.

What is an Annual Transfer policy?

Otherwise known as a Turnover policy, an Annual Transfer Construction Works policy insures all projects undertaken during the policy period including defects liability period, if applicable.

There is also an option to cover any projects which commenced prior to inception of the policy, provided these have been agreed with the insurer. All projects must meet the characteristics listed in the schedule and all cover concludes with the expiry date of the policy.

Understanding the differences between these policies is vital

Unless the subtle differences between these two policy options are recognised and acted upon, they can be the undoing of a builder. Take for example the case where a builder changes policy provider and places cover for a Run-Off policy when they had previously held a Transfer policy. The Run-Off policy will not pick up any projects already commenced, and cover under the Transfer policy would cease at the expiry date of the prior policy, potentially leaving projects uninsured.

Whilst we usually advise that the policy basis is not changed and matches the Insured's expiring policy, sometimes there are very good reasons for switching the builder from one type of Construction Works policy to another. Without the right advice, builders that switch between policy types can experience a gap in coverage leading to increased exposure to risk.

At 360 Underwriting, we have experts available to discuss your specific needs. To speak to 360 Construction & Engineering, call us on 1800 411 580 or send us an email at construction@360uw.com.au.

Please note the information in this article Is general in nature and should not be relied upon as advice, as it doesn't consider your personal needs, objectives and financial situation. All coverage is subject to the specific terms and conditions contained In the Policy wording.

By now many of you would have read the announcement from QBE last week which outlined plans for the migration of their SME Construction and Engineering products to 360’s online underwriting platform.

The goal was to provide a fast and efficient way for brokers to access these products while still being able to utilise QBE’s underwriting team for complex and large business.

Brokers will be able to access the complete suite of QBE’s construction and engineering products including annual, single and owner builder construction along with the machinery and electronic equipment policies.

The announcement was another milestone day for the team at 360 with the partnership with QBE reflecting the capability we have developed in the SME segment of this market.

An excerpt from the QBE announcement from Dale Gleeson, the National Manager Construction and Engineering, follows ;

Questions & Answers

How do I access the new platform?
You can access Compass via the 360 website, www.360uw.com.au by clicking “LOGIN” at the top of the page. New users can request access by emailing construction@360uw.com.au.

Any existing QBE renewals with an expiry date after 1 September 2020 will be available to manage their policies via the 360 Compass from 1 August 2020.

What business does this affect?
The following business will be placed via the 360 Compass platform:

When does this commence?

Will QBE still offer products direct to brokers?
Yes, the QBE team will still be there to support you. This partnership will allow QBE time to focus on those larger risks and more complex business.

What about my SME renewals?
The team at 360 Construction will issue renewal terms and assist you through the adjustment process using their online platform.

Will there be any changes to the policy wording?
No, we will be ensuring there is full continuity of cover for all business moving to 360 Construction.

What if I’m not set up to use the 360 Compass Platform?
Please contact the 360 team at construction@360uw.com.au for any assistance.

 

CLICK HERE to view our 360 Group Business Banking Details and Staff Contacts

Effective 1st July 2020, the eSentry Construction portfolio will trade through 360 Construction & Engineering Pty Ltd, an Authorised Representative of 360 Underwriting Solutions Pty Ltd.

Whilst you may not notice it, the following has changed:

We have also improved our product offering, creating new 360 Policy Wording Documents:

  1. 360 Annual Construction Works
  2. 360 Single Construction Works
    (Please note: Owner Builder Construction & Legal Liability will be offered under the 360 Single Construction Works policy wording going forward).

Please update our new 360 C&E details in your system to reflect the following:

ABN: 56 634 130 760
AFSL: 319181
Underwriting Email address: construction@360uw.com.au
Postal Address: Level 4, 161 Walker Street, North Sydney, NSW 2060

Our new bank account details are:

Bank: St George Bank
Account Name: 360 Construction & Engineering Pty Ltd Premium Trust Account
BSB: 332 027
Account Number: 555 553 995
Remittance Email: constructionremittances@360uw.com.au

Credit terms remain unchanged at 60 days.

CLICK HERE for the latest 360 Contacts and Business Banking Details

The 360 Compass  Online Web Platform will service our 360 C&E Products for all quotes and new business.

Please contact our Construction & Engineering team should you require a login or any assistance.

 

 

We are delighted to announce some significant changes to our Construction and Engineering business.

In June 2019, 360 Consolidated Investments announced that it had acquired a controlling stake in the Construction, Mobile Plant and Equipment Agency, eSentry.

The acquisition was made in support of our ambition to develop a capability in the Construction sector on the back of overwhelming feedback and demand from Brokers given the reduction in local and overseas markets.

The eSentry acquisition provided us with an experienced team led by Adrian Martin, a portfolio of Construction business that has provided the foundation for us to build the business and an outstanding online platform to distribute our C&E products via the eSentry online Insurance solutions technology.

One of the critical elements of the acquisition was the decision by QBE to provide capacity for the Construction portfolio.

Over the course of the last year, we have devoted much of our attention to integrating the eSentry team into 360, bedding down the renewal portfolio, and establishing a platform for future growth. In March, we also acquired the Ensurance Construction business to provide us with scale and additional capability and we are now excited to announce the following changes to further enhance our credentials as a genuine market for Brokers seeking solutions in this segment ;

We would like to take this opportunity to acknowledge the heritage of eSentry and what Adrian Martin has been able to create over the last 10 years, and thank our broker partners who have supported the eSentry and the Ensurance business during this time.

Whilst the eSentry brand will continue as a technology provider for the 360 Group, the time is now right to launch a new future and a new beginning with the advent of 360 Construction and Engineering, as well as the wonderful partnership with QBE.

Denis Morrissey, Managing Director

In 2019, 360 Underwriting Solutions acquired a 50% stake in the online insurance underwriting agency eSentry, adding Construction capability to its rapidly expanding portfolio.

In addition to this expansion, 360 Construction and Engineering Pty Ltd (360 Construction) has recently agreed to buy Ensurance Underwriting (Ensurance) which further increases their product offering to include, Latent Defects, Owner Builder and Trades Liability.

Executive Director for 360 Construction, Adrian Martin, stated “We are excited to announce the addition of Ensurance Underwriting to 360 Construction & Engineering. Michael Huntly and the team bring a number of innovative products, solutions and a wealth of industry knowledge to complement our market leading whole-life cycle online product offerings.”

Co-founder and 360 Director, Denis Morrissey also added; “This is another significant step forward for the 360 Group, allowing us to expand the foundation of our 360 Construction offering, adding to our overall service commitment to our broker partners." 

Both Ensurance and 360 Construction provide intermediaries with “fast, simple, reliable and comprehensive” construction insurance via their customised online platform’s. To find out more, or to obtain a login, please contact:

360 Construction & Engineering

P. 1800 411 580
E. construction@360uw.com.au

Ensurance Underwriting Pty Ltd

P. 1300 794 079
E. customerservice@ensurance.com.au