Ocean Underwriting Media Release

Ocean Underwriting Announces Strategic Partnership with Tokio Marine Management Australasia to Deliver Cyber Insurance Solutions to Australian small and medium-sized enterprises (SMEs).

About the Cyber Insurance product^

The Ocean Underwriting Cyber Insurance product is designed for businesses that value proactive risk management. In addition to core coverage such as business interruption and incident response expenses, it also offers optional coverage for directors & officers liability and cyber crime (e.g. social engineering loss) and other optional or extended coverage for tailored solutions.

About Ocean Underwriting

Ocean Underwriting is an independent Managing General Agent (MGA) dedicated to providing tailored financial lines, property and liability solutions that meet the evolving needs of Australian SME’s. We pride ourselves on our exceptional understanding of risk management, strong broker relationships, and our integrated technology platform, delivering cutting-edge cyber solutions to the needs of our clients. We aim to truly disrupt the status quo by delivering consistent service and modern insurance solutions.

Why Us?

• Independence: We deliver the best possible outcomes for our clients without external influences.
• Digital Innovation: Our cutting-edge digital technology platform is equipped with the latest capabilities, free from legacy constraints.
• Proven Track Record: Our extensive experience enables us to deliver a sustainable and profitable portfolio.
• Customer First Approach: Through our extensive broker network, we stay attuned to our clients’ needs, providing personalised service and solutions.
• Origination Access: Our long-standing relationships ensure we engage with our broker network consistently, regardless of location or business size.

Who manages our Cyber product?

Ocean’s Head of Financial Lines, Wade Cadman, has over 18 years of experience in underwriting, product management, and broking. He excels in multi-line product management, process improvement, and broker engagement. Wade’s extensive experience strengthens our business development and client relationships. CEO Tim Fairbrother said, “Wade’s expertise has been instrumental in driving our business forward. I am amazed at what Ocean has achieved in under one year of trading, and Cyber is now a vital fourth pillar in our product suite”

Who is the Insurer?

Tokio Marine Management Australasia (TMMA) is a representative and managing agent of Tokio Marine & Nichido Fire Insurance Co Ltd, a member of the Tokio Marine Group and one of the largest international insurance groups. With almost 150 years’ experience globally and more than 60 years in Australia, TMMA collaborates with Tokio Marine Group companies worldwide to offer specialised product, supported by a worldwide team of specialty professionals.

Reflecting on the partnership with TMMA, Fairbrother added, “At Ocean, we’re very intentional about who we partner with. We are proud to work with TMMA because they’re specialists in their field and we know they bring the right expertise to support our clients. An equally important factor is that we are aligned culturally, sharing values that prioritise client service and underwriting excellence.”

For more information, visit: Tokio Marine Nichido | Australasia.