Active in the Australian rail industry since 1995, Austbrokers City State Rail has built a reputation for negotiating specialised policy conditions and competitive premiums specifically for the sector.
The organisation’s in-depth knowledge of the industry allows it to accurately complete risk assessments and loss analyses, and design and implement insurance solutions for the unique and often complex risk exposures encountered by rail businesses.
The expert team at Austbrokers City State Rail is also experienced in providing policy wordings approved by all state, territory and federal rail regulators.
Deep understanding of the industry
Brian Barreto, Director of Austbrokers City State Rail, has more than 25 years of experience in the industry.
He recognises the importance of the company’s understanding of rail when it comes to sourcing the right insurance.
“Some insurance companies can be put off by the rail industry, but we understand it, it’s an incredibly safe and reliable sector,” he told Rail Express.
“We have a diverse mix of clients of various sizes who work in and around the rail space, but our specialty lies in rail construction and maintenance.”
Austbrokers City State Rail is experienced in working with rail industry contractors and sub-contractors in construction and maintenance, rail component engineers and manufacturers, specialist rail plant contractors, high rail equipment providers and operators, signal manufacturers, rail safety providers, engineers and consultants, and rail information technology and telecommunication providers.
In the rail construction space, Austbrokers City State Rail can help with public and products liability, contract works insurance, professional indemnity, management liability, plant insurance, contract performance/surety bonds and more.
For rail operators, the brokers are skilled in assisting with uniquely developed material damage cover for locomotives and rolling stock.
They also aren’t shy when it comes to insurance for major contracts or valuable assets, with liability programs going up to $350,000,000.
Plus, they can assist with civil fines and penalties cover (included within management liability insurance) as well as professional indemnity designed for the rail sector.
Austbrokers City State Rail also works closely with the heritage rail industry to support its sometimes-complex insurance needs.
“We have created a specialised product to support the growth of the rail heritage sector,” said Barreto.
“This includes purpose-written policy wordings, particularly for public liability, volunteer personal accident and associations liability, combined with stable and competitive premium levels.”
The importance of the right insurance
Barreto said that while businesses may be in the same industry, there are always intrinsic differences between them.
“Our goal is never to walk in and assume we already know what a company might need,” he said.
“It is crucial that we listen and absorb what each of our clients is about, because if you are louder than they are, you might miss something critical.”
Not having the right insurance coverage could have serious consequences, so Barreto said it’s important that your policy is in good hands.
“If you miss something critical in the early stages of setting up your coverage, a problem could cost millions of dollars,” he said. “That could be devastating to any business.”
If something does go wrong and it’s time to file a claim, Barreto said Austbrokers City State supports its customers every step of the way.
“We have excellent attention to detail, and we go above and beyond to make sure our clients get a fair payout,” he said. “It’s about fighting for them and not rolling over. That’s what we’re here for.”
