Global digital travel business secures significant premium savings in excess of $520k or 13% despite tough conditions in the insurance market while securing improved policy conditions at the same time.


A major publicly listed online travel business operating in both consumer and wholesale markets engaged The Lion Partnership (TLP) to check the quality and competitiveness of their existing insurance arrangements.

As a large ASX listed organisation with significant exposures in the financial lines space, the client had experienced the adverse effects of the ‘hard’ insurance market first-hand, including considerable premium/rating increases imposed by their insurers coupled with diminished levels of cover.


The first stage of TLP’s engagement was to perform technical policy wording reviews on the client’s major classes of insurance. The review discovered a number of unfavourable / restrictive policy conditions that needed to be corrected to maximise the breadth of cover afforded to the client.

Our wording technicians were also able to highlight alternative insurers in the market that would be able to accommodate our suggested changes; thereby giving the clients incumbent broker a point of reference when negotiating terms with the clients incumbent carriers.

Following on from the wording review, TLP managed an insurance broking tender exercise using our unique ‘Statement of Capability’ (SOC) tender model. A number of leading brokers with significant expertise in the financial lines market participated, all of whom submitted proposal that were of an extremely high standard.

All of the brokers demonstrated a good understanding of the clients service requirements, while also exhibiting strong capabilities in key service areas (e.g. risk management, claims management, marketing and placement etc.).
Countless deficiencies in coverage that existed within the clients original insurance program were also identified by the participating brokers, accompanied by solutions to correct the issues raised.


After detailed evaluation of each brokers written tender submission and a series of broker presentations, the client elected to appoint a new broker who delivered a vastly improved insurance program from both a coverage and pricing perspective.

They newly appointed broker:
• Negotiated the removal of several problematic / unfavourable policy exclusions that applied under the clients original Directors & Officers (D&O) and Cyber Liability programs
• Introduced new/improved policy language across several key policy clauses and conditions
• Undertook detailed loss modelling exercises that explored various ‘worst-case’ loss scenarios to better inform decision making around appropriate limits in cover
• Delivered a more streamlined and cost-effective Cyber Liability program involving fewer insurers and policies (reduced from four to two); thereby providing greater efficiency from a claims perspective
• Negotiated significant premium savings of more than $520k or 13% across the clients program despite challenging conditions in the marketplace; eclipsing the average results being reported in the market for other large, listed organisations

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