UAA's journey of innovation

For more than 50 years, Underwriting Agencies of Australia (UAA) has been the leading provider of insurance for the mobile plant and machinery sectors. Over this time UAA has stood as a pillar of strength and reliability in providing comprehensive coverage tailored to the unique challenges of these industries.

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As UAA continues to evolve alongside industry advancements and shifting market dynamics, it remains committed to delivering best-in-class solutions that safeguard machinery operators, businesses, and their critical assets.

From a one-man team to a staff of 72 Australia-wide, the growth of UAA has been exceptional.

The history of UAA starts with humble beginnings in 1972 as Sanderson Insurance Brokers based in Newcastle, founded by Phillip Duncan. He identified the challenges in sourcing specialised crane insurance, revealing a need for a dedicated product for the Australian crane industry.

Phillip packed his suit and flew to England to visit the global insurance market specialist Lloyds of London. He found a syndicate with a very basic product that developed into Contractors Plant Insurance (CPI) in Australia and went on to build an incredible relationship with Lloyds.

There was an aspiration to further develop this product and further service the needs of the entire insurance Australian industry through a broader distribution and a specialised underwriting approach that assessed and correctly priced the risk.

To do this it was identified that the next step was to become a recognised niche underwriting agency that specialised in machinery insurance and to utilise the national insurance brokers network to distribute the product to their clients.

In 1988, UAA was born, maintaining a strong relationship with the Lloyds of London syndicate which provided the security that backed UAA. This meant that UAA was able to autonomously underwrite its own machinery risks, and importantly also allowed to manage claims and service customers. UAA became the first niche underwriter in its class to pioneer such a specific product in the Australian market.