Underwriters tighten broker scrutiny
Australian underwriters warned they’re watching brokers’ behaviors—especially faster remarketing in soft markets—as a test of underwriting discipline, signalling underwriters globally may ramp up distribution oversight. The comment points to renewed attention on intermediary conduct and market cycle risk. (x.com)
Paul O’Leary, chief underwriting officer at Epsilon Underwriting Agencies, identified two broker trends this week: increased remarketing and weaker submission detail on complex risks, speaking in comments published March 18, 2026. (insurancebusinessmag.com) Jodie Drinnan, general manager and underwriter at Marine Bind, told a UAC Sydney event on February 19, 2026 that binder-backed capacity is governed by parameters and performance expectations that limit how far price can move. (insurancebusinessmag.com) Drinnan contrasted large insurers’ ability to absorb group-wide volatility with smaller specialist underwriters’ tighter margins, saying that difference is producing “increasingly pronounced” pricing gaps between markets. (insurancebusinessmag.com) Industry sources told Insurance Business that same-day turnaround is increasingly treated as the benchmark, a shift prompting underwriting agencies to invest in automation and workflow efficiency to free underwriters for judgement-led work. (insurancebusinessmag.com) Marine Bind’s online model was cited as an example where transactional, parameter-driven auto-quoting can pull routine submissions into administrative processes rather than strategic placements. (insurancebusinessmag.com) Both underwriters warned that when brokers prioritise speed and short-term placement simplicity, subscription business declines despite its role in creating underwriting discipline and providing fallback options if appetite shifts. (insurancebusinessmag.com) The remarketing-heavy cycle is already producing operational strain: underwriters report time spent on submissions that never convert and brokers report reduced bandwidth for the complex risks that require detailed underwriting. (insurancebusinessmag.com)
