PARIS: Commercial underwriting agency, APC, has increased the limits on most of its public and products liability risks to £10m and property risks to £50m, www.insurancetimes.co.uk reported on Wednesday.
The agency said the move was aimed at helping smaller brokers win larger clients.
According to APC, the increased public and products liability limits will eradicate the need for brokers to secure a second excess-of-loss policy to supplement the industry's standard products, which offer cover of £2m or £5m.
It added that brokers would also benefit from the new £50m in any one location property limit.
APC director, Ian Russell, said, "Many of our brokers are competing against rivals many times their size to win large accounts. In this situation it is essential for them to be able to access the large limits required by their clients quickly and from one source.
"By both increasing the most important limits online and providing access to a dedicated London market team we believe we are significantly increasing brokers' business conversion chances, while saving them valuable trading time."
It reported that Commercial underwriting agency APC has launched a London market broking team to place risks for regional brokers than cannot be dealt with under its regular binding authorities.
The new team, APC London Markets, will place a wide range of risks including property, casualty, professional indemnity and directors' and officers' liability with both Lloyd's and London company market insurers.
Geographically, the team will cover the majority of UK, European and international risk locations.
APC achieved Lloyd's broker accreditation in September 2009, but so far has not used the facility to place risks for its regional brokers.
The new team will be headed by Ian Ashworth (pictured), who joins APC from rival Lloyd's broker/MGA Holman's, where he was a senior broker.
The team also includes Tom Murray, previously divisional director at Bowood and Mark Russell who moves internally from APC Underwriting.
APC director Ian Russell said: "While our binders enable us to place a wide range of risks immediately, we have seen a growing demand from our brokers that would like to use us for other business.
"By launching APC London Markets our supporting brokers will now have access to a one stop shop for securing cover for all aspects of their client's operation, with a very experienced team to back it up. We have enhanced our-line trading platform to accept submissions in less than a minute, the London Market team will do the rest."
