RUPPL doubles-up with 20-year milestone in the Pacific region
Australia’s longest-running Professional Indemnity Insurance Lloyd’s Coverholder has clocked up a double-decade. And what a double-decade it’s been.
Resource Underwriting Pacific Pty Ltd (RUPPL) is a rare breed, offering renowned Lloyd’s of London underwriting direct to clients here in Australia, New Zealand, Singapore and Hong Kong. It’s an archetypal international strength plus local service delivery combination that others aspire to but don’t often accomplish.
RUPPL’s Managing Director, Paul Muller, has been at the helm since inception. “When we opened our doors in 1991, there was just a handful of underwriting agencies working in this specialty area in Australia,” he said. “Fast-forward to 2011 and there are forty or more”.
“Many in the industry predicted we’d last less than three years, given the operating environment and claims pressure at the time.”
“In contrast we’ve grown our footprint to service the wider Pacific region and carved out a solid client base by offering small and medium businesses something they didn’t previously have – the security of insurance underwritten by Lloyd’s.”
Prior to RUPPL’s emergence, Lloyds had tried to establish long-distance business in Australia but found the going tough.
“You really need to know what’s happening on the ground, to be on the spot, dealing direct with people, local communities and industry sectors,” explained Paul.
Today, RUPPL has offices in Sydney and Melbourne, a dedicated team of experienced underwriters and claims staff and an energetic network of brokers spanning the region.
“Very few underwriters servicing this segment control claims locally. We find controlling our own claims is a huge advantage. It means we can analyse trends and assess risks with much greater accuracy. Knowing how to track claims activity and how to respond with the type of business you write –or don’t write – is key to sustaining a strong portfolio.”
It’s more than RUPPL’s double-decade that has industry and stakeholders doing a double-take. RUPPL has innovated with a speedy online quotation product, a library of insurance-demystifying brochures and a suite of downloadable forms and contract wording that lets brokers and clients truly understand the “fine print”.
RUPPL will roll-out October, its 20th Anniversary month, with several celebratory events. “We want to recognise the many people who have shared this journey with us,” said Paul. “We’ll do that with local cocktail parties and dinners where we’ll host the brokers, lawyers and other personalities who have played such a vital role in RUPPL’s success.”