NIBA announces Liberty Specialty Markets as the 2024 Specialty Insurer of the Year

NIBA announced Liberty Specialty Markets as the 2024 Specialty Insurer of the Year

NIBA announced Liberty Specialty Markets as the 2024 Specialty Insurer of the Year at the NIBA Gala Dinner and Awards Ceremony at the Adelaide Convention Centre on Tuesday, 22 October. 

NIBA CEO Richard Klipin noted the significance of these awards.  

“NIBA is committed to strengthening professional relationships between brokers and insurers by measuring and better understanding the broker/insurer dynamic,” Richard said.  

“These insurer awards shine a spotlight on the top performers in the insurance industry over the past year, showcasing insurers that are elevating standards by serving Australians in a better, more client-centric way.” 

The recognition for the Specialty Insurer of the Year was introduced recently by NIBA due to the evolving nature of the insurance landscape. The awards are determined through the feedback provided by brokers in the NIBA Broker Market Survey. The survey is essential for insurers, underwriting agencies, and brokers each year to help deliver forward-thinking, practical, and actionable insights, establishing a truly independent and syndicated industry overview. 

The record participation of around 1,000 brokers in the NIBA Broker Market Survey—an increase of 37% from last year—is a testament to the growing community of industry professionals. The survey is conducted on behalf of NIBA by an independent market research firm called NielsenIQ.  

It is sophisticated and robustly assesses brokers' attitudes and engagement with insurers and their offerings. 

Angela Carter, Director of Consumer Insights at NielsenIQ, said, "Liberty Specialty Markets have showcased that they are leading the way when it comes to key metrics such as overall satisfaction and trust in the specialty insurer space." 

“They have truly gone 'Beyond the Status Quo' to deliver an improved experience to brokers this year." 

Richard welcomed brokers' record participation in the NIBA Broker Market Survey and congratulated Liberty Specialty Markets as the winner in this category and the finalists.  

"This year, a record number of brokers participated in the NIBA Broker Market Survey to share their insights, which is an extremely encouraging outcome," Richard said.

"Congratulations to all the finalists and the team at Liberty Specialty Markets for winning in this category." 

2024 Specialty Insurer of the Year   

Winner: Liberty Specialty Markets 

Finalists: Berkley Insurance Australia, Lloyd’s