A wholesale insurance brokerage for hard risks.

New South Sea makes specialty coverage easier to place. Structured intake and named broker support help retail agents prepare difficult commercial risks for current market review.

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01 The difference

Named brokers on the hard files.

Named brokers on the hard files

Most commercial programmes are renewed on last year's schedule by whoever picks up the file that month. The wording is rarely read against the contracts it is meant to answer. The gap shows at the claim, when the insurer reads it first.

New South Sea works the other way round. A broker, an account handler and a claims contact are named at the first meeting and stay with the account through renewal and claim. Submissions are built as underwriting files, not forms. Markets are selected for the risk rather than circulated, and terms are compared clause by clause before any recommendation is made.

01 · DedicatedThe team moves like your own.

A broker, an account handler and a claims contact per client.
The same three people at inception, mid-term and renewal.
No rotating inboxes. The person you started with closes the file.

02 · FastFirst read in [x] days. Firm terms when the file is ready.

An indication on appetite and structure within [x] working days of a complete file.
Intake, triage and market selection run in parallel, not in sequence.
Firm terms once subjectivities are known, not before.

03 · Hard risksThe accounts others cannot place.

Cat-exposed property and typhoon-exposed single sites.
Regulated financial firms. D&O with a going-concern note.
Cyber after an incident, US products exposure, large contract works.

02 How it works

From the renewal file to the right market.

Renewal reviewPropertyTestedLiabilityGapEmployees’ compensationOverlapD&OCurrent

01 Review

Start with the exposures, not last year's schedule.

We read the current policies against how the business operates today: sites, contracts, payroll, revenue by territory and the claims that have been paid.

~ 120 days out

Underwriting file

ValuesLossesPayroll

Schedule of valuesCheckedLoss historyFive yearsRisk improvementsDocumentedFile complete

02 Prepare

The underwriting file is the submission.

One file per line with the facts that move price and terms, presented before the market asks for them.

~ one file per line

Terms comparedInsurer ATerms inInsurer BTerms inInsurer CDeclinedComparedLine by line

03 Market

Selected markets, not a circulated list.

Each risk goes to the insurers with genuine appetite for it. Fewer, better approaches return firmer terms.

~ timing by file

Binder checkWording as quotedSubjectivities closedEndorsements matchedCertificatesIssuedBound

04 Bind

The policy is checked against the quote.

Wording, subjectivities and endorsements are confirmed against what was agreed before cover incepts.

~ before inception

Claim file

NotifiedAssessedNegotiatedSettledNotifiedSame dayCoverage positionIn writingInterim payment requested

05 Claims

A named claims contact from the first notice.

Notification, the coverage position, quantum and settlement, argued on the wording by the broker who placed it.

~ same working day

How it works, stage by stage

03 The file

One file per line, from review through claim.

Live, not a status email.

Market responses, open subjectivities and quotes land in one record as they arrive. The named people on the account, on the client side and ours, read the same file. No checking-in emails and no PDF ping-pong.

Everyone, same file.

Finance, legal, the board pack and the insurer read from the file the broker works. When a subjectivity closes or an adjuster responds, the file updates and the people on it see it. Permissions by person, by line.

Clean binders, delivered.

At bind the policy is checked against the quote and subjectivities are tracked through delivery. The file history stays with the account from one renewal to the next, so nothing is rebuilt from scratch.

04 Coverage

Placement knowledge for difficult commercial risks.

Ten lines, four families, one preparation standard

Start with the line. Each coverage guide sets out what the policy may cover, what moves price and terms, the underwriting file we build before going to market, and the three mistakes we see most often at renewal. The guides are written for the reader who buys insurance for a living: the CFO, the risk manager, the general counsel.

Where the standard form falls short, the wording is negotiated. A dedicated Side A limit on D&O, an insured-versus-insured carve-back, contingency cargo cover where the buyer insures, an indemnity period sized to refit time rather than to the policy default. Check appetite by class →

Property and constructionProperty and business interruptionMaterial damage and loss of gross profit for offices, warehouses, shops and stock.The sum insured is a number you choose. The indemnity period is a decision you make.Property and constructionConstruction all risksContract works, plant and third-party liability for developers, main contractors and fit-out firms.The contract decides who insures the works. Read it before the market does.CasualtyPublic and products liabilityThird-party injury and property damage from premises, operations and products.Limits are bought for the worst claim, not the average one.CasualtyEmployees' compensationCover required under the Employees' Compensation Ordinance (Cap. 282), with common law liability.Compulsory does not mean standard.Financial linesDirectors' and officers' liabilityPersonal liability of directors and officers, company reimbursement and securities claims for listed and private companies.The policy belongs to the company. The protection belongs to the people.Financial linesProfessional indemnityLiability for negligent advice, design or service for consultants, asset managers, technology firms and engineers.Cover responds to the claim, not the mistake. The retroactive date decides the rest.Financial linesCyberFirst-party loss from network events and third-party liability for data and privacy failures, including duties under the PDPO.Underwriters price the controls. The questionnaire is the submission.Financial linesCrime and fidelityEmployee dishonesty, third-party fraud and payment diversion for companies handling significant funds.Most losses come from inside the company or from an email that looks like it did.Marine and tradeMarine cargo and stock throughputGoods in transit by sea, air and road, and stock held in warehouses.Goods are most at risk where the paperwork changes hands.Marine and tradeTrade creditProtection against buyer insolvency and protracted default, used to secure receivables financing.The policy is only as good as the credit limits behind it.

All coverage guides

05 Industries

Sectors where loss runs understate the exposure.

Named risks per sector: the exposure, what it costs, the cover that answers it

A clean loss run is not evidence of a well-insured business. It is evidence that the large loss has not happened yet. Each sector page names the exposures that produce the large loss in that industry, states what it costs when it happens, and sets out the line and the wording that respond to it.

The programme for each sector is built from the ten lines above, with the limits, extensions and carve-backs that sector needs: North American liability priced for a trading house, investigation costs on D&O for a licensed firm, subcontracted labour under employees' compensation for a contractor.

Trading and logistics

Goods change hands at every port. The cover has to follow them. Programmes for trading houses, freight forwarders and sourcing companies.

Marine cargo and stock throughputTrade creditPublic and products liabilityProperty and business interruption

Sector programme →

06 In their words

“[Client quote on a placement or claim.] [Second sentence with the outcome.]”

[Title][Company type · sector · size]

Ready when you are

Send us the account everyone else said no to.