PSCIB Harvest Template 2022

Corporate Profile We make it personal for you and your business.

002 Corporate Profile Contents About PSC Insurance Brokers 3 Company History & Approach 4 How PSC Protect Your Business 6 PSC Insurance Brokers looks after the needs of clients through: 7 The PSC DNA Our Client Culture & Values 8 Insurance Specialisations 10 Associated Insurance Capabilities 12

Corporate Profile 003 About PSC Insurance Brokers PSC Insurance Brokers is a national insurance 01 brokerage providing cost-effective insurance Understands your needs, your advice and solutions to leading businesses across industry and your risks Australia. We are dedicated to helping you protect your operations and assets through considered advice and the ability to leverage our scale with leading 02 insurers and underwriting agencies. Negotiates on your behalf to provide the best policies and We focus on our clients above all else. We take terms available to you a personal approach to each client: to evaluate all aspects of their business, their risks and their situation. Our attention to every detail about your business beyond just insurance and risk means 03 PSC Insurance Brokers provide the right advice to Delivers quality, timely and cost- suit your unique situation. effective client services that are unique to your business situation Our personal approach to your business insurance is what we believe differentiates ourselves from the global firms and smaller brokerages. 04 Acts on your behalf to get claims paid quickly with your full entitlements 05 Is available to you and your business at all times

004 Corporate Profile Company History & Approach Our principle PSC Insurance Brokers are the only This focus on excellent personal client Australian-owned multinational service, linked to the fact that members focus is that insurance brokerage. We have the size of the service team are shareholders of developing and scale to help you and are dedicated in the business, positively and to helping you protect your operations substantially differentiates us from our partnerships and assets through considered advice competitors. and the ability to leverage our scale with our clients with leading insurers and underwriting Whilst the PSC Insurance Group is now agencies. a publicly listed company, the Board of Directors, Executive Management Team The key to our ongoing success is and Employees hold the majority of the ensuring that we attract and maintain shares. the best people who share our passion for delivering exceptional personal Our principle focus is that of developing service in a professional, expert and partnerships with our clients, by client focussed way. harnessing the experience and imagination of our people to deliver the cost effective and innovative solutions

Corporate Profile 005 PSC Insurance Brokers are the only Australian-owned multinational insurance rokerage Servicing clients We help thousands Our global reach Our skilled brokers No matter how large, with branches across of businesses every provides additional make us your best we always make it Australia day risk solutions partner personal We make it personal or you and your usiness We evaluate all aspects of your business, risks and situation We are dedicated to We have the size helping you protect and scale to your operations protect you and and assets your business We develop We employ the best partnerships to people who share deliver innovative our passion for solutions personal service Our service team members are also shareholders in the business We proide cost-eectie insurance adice and solutions to commercial and small-to-medium usinesses Insurance London Workers Claims Risk Broking Wholesale Compensation Management Consulting Markets

006 Corporate Profile How PSC Protect Your Business Our clients are at the centre of everything we do in business. We provide a highly professional We aim to be an essential part of your service to our clients, not only in the business with an understanding of your area of securing the best covers, in business that cannot be replicated. terms of price and security, but also in offering a comprehensive risk and We have a local focus with global claims management service. resources, with a strong presence in the London market with a PSC-owned We have arrangements with all Lloyd’s Brokerage firm which provides major insurers and underwriting another avenue and direct access into organisations locally and globally. the Lloyd’s marketplace for us to utilise when placing your company's insurance Our independence is paramount. program. Whoever you’re dealing with has the decision-making power to truly act You can be assured that our on your behalf. Your adviser is only appointment will form the foundation interested in your outcome. to delivering a long term and sustainable Insurance program We operate our business, just like you. encompassing: As shareholders of our own business, » A dedicated and experienced service we look at your business differently. team Our intimate understanding of the » Flexibility in product distribution challenges and rewards of owning a » Quality risk management solutions business gives us a wider focus on your » Expedient claims management requirements. » A commitment to service delivery » Broad, appropriate and cost-effective We grow together. Our success has insurance program always been based on supporting the » A true partnership approach. successes of our customers, partners and suppliers.

Corporate Profile 007 PSC Insurance Brokers looks after the needs of clients through: Insurance broking Underwriting agencies advice and specialising in niche placement of risk risks Wholesale and Claims handling Lloyd’s markets capabilities Australia- wide

008 Corporate Profile The PSC DNA Our Client Culture & Values Focusing on our clients above all else is the PSC DNA, and what sets us apart from competitors. We make it personal We are straight talking Our aim is to be a collaborative partner who We are honest in our communications with champions your business. Our attention clients. We avoid jargon and are open and to every detail about all aspects of your proactive to explain hard truths. business and risks provides the right advice to suit your unique situation. We are forward thinking We recognise that the way we perform when We are driven to outperform a claim occurs is of paramount importance. With a specialist, global platform we can We place the highest emphasis on the deliver broader services and resources for coverage we negotiate and the claims service our clients. We access global markets in we provide. London, Bermuda and other international specialty markets to access a wider range of We are dynamic outcomes for our clients. At our core we value the dynamic and enterprising culture that differentiates us. We are transparent It is fundamental to our resolve to deliver We are upfront and clear, disclosing the fees outstanding outcomes for our clients. we charge and income we receive to manage your insurance program. The actions and approach of our team are always transparent and in your best interests.

Corporate Profile 009 Our People Drive Our Business The service to focus on customer needs. Our customers are at the centre of Our business is made up by our people. everything we do. Their personal Nothing can match the real understanding circumstances are unique and drive how we that comes from the personal approach we service, advise, and negotiate on their behalf. take toward our customers. Our personal approach means we’re better Our personal networks provide our clients able to understand your business and your with the advantages of a national footprint needs. and considerable buying power, while maintaining a focus on local insurance We are able to source the most appropriate markets and our client's needs. cover for your business at the right price, whatever your situation. Our network of insurance experts work together to tailor an insurance program that matches the specific requirements of your business.

0010 Corporate Profile Your Support From PSC Insurance Caroline Jackman Pat Miller Position: Managing Principal Position: Assistant Account Exec Caroline has spent over 30 years With over 15 years industry experience, working in the insurance industry. Pat has broad expertise in the general She has gained a wealth of experience insurance and financial services markets. through her various roles. Caroline has At PSC Insurance Brokers, Pat has built a experience dealing with the insurance large portfolio of clients with a high level industry from both the insurance of client service and claims management. broking side and the client side, enabling her to develop a unique ability Pat is responsible for all branch to understand the client’s perspective. operations and in particular their client service strategies, developing During her expansive career, Caroline national affinity relationships and client has fulfilled a number of management placement for major accounts across the roles where she acted as a mentor for PSC Insurance Brokers national network. many employees. Caroline is committed to helping her clients succeed. She is responsive, honest, and transparent, and applies her technical knowledge to ensure clients are confident in their insurance program.

Corporate Profile 0011 Your Insurance Service Team Sarah McLauchlin Peter Saunderson Lynn Connors Richard Fuller Account Manager Account Manager Claims Manager Placement Manager Quas dolentiur? Et ut Quas dolentiur? Et ut Quas dolentiur? Et ut Quas dolentiur? Et ut iducias mo beate nobis urbi iducias mo beate nobis urbi iducias mo beate nobis urbi iducias mo beate nobis urbi quostrum accut aut et rem quostrum accut aut et rem quostrum accut aut et rem quostrum accut aut et rem quidipsa quam recus. quidipsa quam recus. quidipsa quam recus. quidipsa quam recus. Working for you We focus on our clients above all else. We take a personal approach to each client: to evaluate all aspects of their business, their risks and their situation. Our attention to every detail about your business beyond just insurance and risk means PSC Insurance Brokers provide the right advice to suit your unique situation.

0012 Corporate Profile Insurance Specialisations When one of our clients faces a challenge that requires an innovative response, we are positioned to bring together the best resources from within our organisation to develop a cost- effective solution. Over the years, our commitment to Corporate insurance understanding the needs of our clients has With a truly national footprint, PSC led us to develop specialisations in a broad Insurance Brokers have the branch network array of disciplines, industries, service areas and diversity of expertise across our and lines of business. organisation to build an insurance program Commercial Insurance that matches the specific and exacting requirements of your business. PSC Insurance Brokers provide insurance From the most complex requirements of broking services to thousands of small to an established multi-national business medium organisations, associations and looking for a new perspective, to a company individuals across a broad range of industries wishing to put in place the most effective throughout Australia. but comprehensive program, our highly The experience and expertise within our qualified and experienced team of insurance organisation ensures we can work with all professionals can help. our clients to identify where they are most We have the expertise and versatility to exposed and develop an insurance solution provide the risk solutions that suit the that will ensure they are looked after if the individual needs of your business. worst happens.

Corporate Profile 0013 Specialist Expertise Our expertise covers all industries and insurance policies including: » Industrial special risk insurance; » Product tamper and product recall insurance; » Business interruption insurance; » Legal expenses insurance; » Business insurance; » Income protection insurance; » Professional indemnity insurance; » Transit insurance for goods; » Public liability insurance; » Travel insurance for business trips;and, » Product liability insurance; » Credit insurance for unpaid debts. » Equipment insurance (including protection against IT failures); Over the years, our commitment to understanding the needs of our clients has led us to develop specialisations in a broad array of disciplines, industries, service areas and lines of business: » Agri/Food Business insurance; » Transport and Logistics insurance; » Construction insurance; » Professional Services insurance; » Civil Contractors insurance; » Sports insurance; » Medical/Allied Health insurance; » Workers Compensation.

0014 Corporate Profile Associated Insurance Capabilities PSC Claims Solutions Wholesale & Lloyds Markets PSC Claims Solutions has over 20 years’ Lloyds of London is the world’s leading experience operating as an independent market for specialist insurance and is claims management provider. The division recognised as a key market for risks globally. delivers claims solutions to some of Lloyd’s has been insuring Australian risks Australia’s largest corporations. for over 150 years and is licensed to write non-life insurance and reinsurance business Our objectives are achieved by providing a in Australia. tailored solution that is flexible to meet our client’s needs. We work with our clients to PSC has considerable Lloyds experience and deliver a claims service to suit their specific access via our specialist UK based wholesale requirements, serviced by our experienced broking and reinsurance broking businesses. and dedicated claims team. The claims We have strategically placed offices within process is an important part of our service the UK with our head office located in the and for many clients it is often a new and heart of the London market. Our businesses complex process. We assist clients by: in London: » Guiding and supporting them through » Are a recognised force within the Lloyd’s the claims experience and London Market offering a diverse » Pursuing recovery range of broking, underwriting and » Clarifying client entitlements under their reinsurance services within the UK and insurance policies internationally. » Providing advice and recommendations » Our reputation has been gained on » Appointing and managing investigators product and market expertise combined and lawyers with consistently fast delivery of results. » Acting as an advocate with the insurer We have deliberately built our team on » Minimising the stress and anxiety of the experience ensuring we add value in claim process terms of advice and market expertise. » Relationships with the market underpin our business. We deal with all major Lloyd’s & Company underwriters including international markets.

Corporate Profile 0015 As the only Australian- owned multinational insurance brokerage, we have the size and scale to help you Carrolls – Wholesale Broking Paragon Insurance Broking Carrolls is a specialist wholesale Lloyds Paragon is a specialist insurance broker, Broker based in the heart of London’s operating in the Lloyd’s of London, Bermuda, insurance sector, providing instant access to European and International Specialty Lloyd’s and London Insurers. As a wholly- markets. Paragon is a wholly-owned owned subsidiary of the PSC Insurance subsidiarys of the PSC Insurance Group Group, Carrolls are PSC’s go to wholesaler on and have market-leading capabilities and all risks that require assistance. Whether it experience in the Financial, Professional and be Broking, Underwriting or Online, Carrolls Casualty Lines sectors. have the right facilities to cater for you. With a broad, independent platform, Paragon Carrolls has a strong track record and can deliver the best services and resources expertise placing a wide array of insurance for PSC clients. Paragon partner with clients programs, including property, liability to deliver risk transfer solutions, claims financial lines and construction into the advocacy and risk management services. London, European and International markets Our six specialty broking teams focus on on behalf of our clients. areas that present complex risk management and risk transfer challenges, because this is where we can add most value for our clients.

0016 Corporate Profile Workers Compensation Certus Life Insurance Services Certus Life is a wholly owned subsidiary of the PSC Insurance Group. Certus Life can Workers compensation insurance is the help you protect the critical assets within largest single insurance cost incurred by your business: you, your directors and key many organisations. Workers Compensation team. The team at Certus Life provides Services are highly skilled and experienced specialised advice around Group, business consultants with a proven track record in and Personal Life insurance. We know that reducing premium costs and improve injury your insurance needs are as unique as you and claims management practices. Workers are. Compensation Services partners with companies to set strategic direction and to Certus Life will work with you to ensure monitor and achieve targets that will reduce that you understand what those risks are in costs: your business and personally and will work » Workers compensation policy review with you to ut strategies in place to reduce includes verification of industry that risk. Depending on the need, this may classifications, wages declarations, include advice only or finding an insurance premium calculations and policy solution that will meet the need. structures. » Feasibility studies assessing alternate Certus Life offer advice and solutions in the program options such as Retro Paid Loss/ following areas: Burning Cost/Loss Prevention Recovery » Personal Insurance: Providing Life and self-insurance. Insurance solutions that are as unique as » Program review and benchmarking to you are. identify cost drivers and opportunities for » Business Insurance: Protecting your improvement. key people to secure the future of your » Due diligence reviews for companies business. acquiring or divesting businesses. We » Group Life Insurance: Giving peace of have significant experience working with mind to business owners and employees. business during merger and acquisition phases. » Audit and review of the injuries, claims and workers compensation management systems, procedures and resources in place at an organisation. This includes self-insurer audits. » Provision of outsourced services ranging from injury management to workers compensation management.

Corporate Profile 0017 Prepare Negotiate Implement Service We have proven methodologies developed through practical experience. While each engagement is unique, the stages below outline our process which we adapt for each engagement. This is how we deliver the best outcomes for our clients. Prepare Implement » NDAs completed » Formalise and review final (binding) terms » Kick off call/meeting » Satisfy/negotiate condition precedents » Written ‘Discussion List’ scoping the key coverage » Finalise program and present program options items and any potential challenges » Execute warranties » Prepare information submission » Bind cover » Present go to market strategy Service Negotiate » Send invoice » Insurance underwriter presentation (zoom/in » Introduce claims process person) » Schedule post placement debrief » Negotiate non-binding indications of coverage and » Schedule pre renewal call/meeting premium terms (“NBI”) » Present NBI report and recommendation » Negotiate any additional options (coverage or limits)

0018 Corporate Profile Insurance Market Update Looking ahead: how the insurance market has affected your current insurance program: Construction Liability continues to provide Despite the natural disaster we have seen on challenges. Key markets have reduced the eastern seaboard of Australia this year, their capacity and appetite for construction there seems to be a little more capacity in the contractors after a decade of unprofitable Australian market. This is being driven, in underwriting performance. There is almost large part, by the amount of time, effort and no appetite from local markets in certain money our clients have invested in their risk sectors. However, this trend is beginning management over the past few years, which to wane. As a long tail class of business, is beginning to pay dividends. remediation taken by insurers will not begin to materialise for several years. As a result we are shifting more risks back onshore to Australian insurers, where we Premium and excess structures for previously had to rely heavily on capacity contractors for these claims continue to from our London and other overseas increase. The difficulty of insurers defending operations to get programs placed. However, such matters is the cause of the concern, and there is still appetite and capacity for if an Insured can demonstrate good record Australian risks overseas and it remains the keeping, safe methods of work, demonstrated case that without the use of overseas markets incident response and streamlined claim some placements would not be completed. processes it will improve renewal outcomes. Our advice is to retain a mixed program Mid-market contractors have generally had placement with both Australian and significant premium uplifts over the past overseas capacity. When markets tighten 3 years. We have experienced more stable up experience has shown us that Australian pricing in 2022, though insurers continue to underwriters tend to take a more risk adverse seek moderate increases. approach than insurers in other jurisdictions.

Corporate Profile 0019 Maintaining long-term, continuous relationships with foreign market, which continues to persist. This easing in the market capacity providers can prove beneficial in such times. is not universal, with programs that involve high-profile risk issues such as coal mining, recycling, food and beverage risks Insurers continue to request, and comprehensively review, with hazardous EPS and properties with combustible cladding policyholders’ contract documents (both upstream and remaining difficult to place. downstream). In doing so, they are scrutinising detrimental contracting provisions. Policyholders with poor contract Some liability covers, including those for bushfire, sexual administration processes and those who provide ‘no-fault’ abuse, nightclubs and other recreational facilities also indemnities or otherwise prejudice defence/recovery continue to present challenges. Additionally, the extent of the of claims, will face policy limitations to reduce insurers’ devastating floods on the insurance market is yet to be fully exposure to such indemnities. known, and we are monitoring this very closely. Where a policyholder can demonstrate good contracting As always, in order to avoid surprises, it is essential to provide regimes insurers will look upon this favourably. Insurers are detailed information and clarification to potential markets moving away from offering blanket contractual liability cover to differentiate risk and ensure the best possible terms and except where rigorous risk management is embedded in the conditions of cover are obtained. Given the workloads of organisation. insurers in this space we have observed that by engaging with the market early to allow sufficient time for negotiation While this shift back to Australia is saving some clients prior to your renewal date, more favourable outcomes are money, it comes against the backdrop of a four-year long hard achieved.

0020 Corporate Profile Proposed Remuneration PSC’s proposed remuneration on policies In addition to the above, our Financial placed via our Australian and New Zealand Services Guide details the following offices will be a Service Fee with all relationships or associations - PSC is a premiums net of commission from insurers. Steadfast Group Limited (Steadfast) Network Broker. Steadfast has exclusive arrangements Our annual Service Fee will be calculated with some insurers and premium funders once further details on the required (Partners) under which Steadfast will receive placements (value, timing, covers selected) between 1 - 4% commissions for each product and services (any additional services arranged by PSC with those Partners. required) are known. Steadfast is also a shareholder of some Partners. The benefits of a Service Fee over remunerating PSC on a commission basis PSC Insurance Brokers may receive a from insurers are; proportion of that commission from Steadfast 1. Complete transparency, you know exactly at the end of each financial year (or other what we earn and what is in and out of agreed period). scope 2. Reduction of government charges If we arrange premium funding for you, we applicable – as commission is built into the may be paid a commission by the premium base premium by insurers, Stamp Duty funder. The commission that we are paid by and GST are applied to the higher base the premium funder is usually calculated premium when covers are placed Gross of as a percentage of your insurance premium commission rather than net. (including government fees or charges). The amount of this commission will be disclosed.

Corporate Profile 0021 Included in our annual fee-for-service Excluded in the Year One fee-for-service » Advice, negotiation and servicing of corporate insurance agreement program including claims management and delivery of » Policies outside the scope of this agreement and to be relevant risk management insights separately discussed (e.g. workers compensation, Life/ » Placement of multi-national policies where global coverage Income Protection, Employee Benefits, M&A (Buy-Side needs to be supported with local coverage W&I) » Due Diligence on M&A transactions – due diligence on » Commission earned by Paragon London for policies target company insurance program and advice on the successfully placed in London (it is standard practice that integration of insurance programs teams in London will be remunerated through success- based commissions, here we would disclose this to you for each policy placed in London to ensure this was in-line with your remuneration expectations) » “excessive work” on any known claims which exist prior to our engagement your insurance broker

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