Hutch Underwriting has rolled out a new packaged insurance solution tailored for Australia’s small and medium-sized trade businesses (SMEs), aiming to streamline coverage and address longstanding pain points in the broking process.
The product, called Trade Pack, is now live on the Ebix Sunrise Exchange. Designed for trades such as carpentry, landscaping, painting, and shop fitting, it brings together core and optional coverages into one consolidated offering, reducing the need for brokers to manage multiple standalone policies.
Trade Pack includes public and product liability by default, with six additional coverage sections available depending on business needs:
Brokers can quote and bind through the platform using product code HUTTP.
Robin Johnson, Hutch’s CEO, said the package is aimed at reducing duplication and administrative friction.
“Trades can have surprisingly complex needs, but putting several policies in place gets expensive quickly, given multiple minimum premiums and admin fees,” he said. “Hutch's Trade Pack changes all that and saves brokers time as well.”
The initiative was developed by Hutch underwriters Dominique Vagi, Lara Lillis, and Rheece Tunnell.
Vagi, who is also the firm’s chief underwriting officer, said the product is structured to offer adaptability without additional complication.
“It’s about giving brokers control and flexibility without adding complexity,” she said. “This pack gives them comprehensive coverage options with minimal admin.”
Target clients include SMEs with annual turnover up to $5 million, contractor expenses up to $500,000 or 30% of payroll, and mobile plant assets worth up to $250,000 (with individual items not exceeding $100,000). Higher-risk trades, such as demolition or plumbing, fall outside the insurer’s risk appetite.
The product launch comes as Australian SMEs contend with rising insolvency risks. A recent report by CreditorWatch showed a 47% annual increase in B2B payment defaults through February 2025. These defaults are viewed as key indicators of financial distress, with affected businesses facing a nearly eightfold increase in insolvency likelihood within a year.
Patrick Coghlan, CEO of CreditorWatch, said external headwinds, including global trade developments, could intensify financial strain.
Meanwhile, Aon’s recent Client Trends 2025 report outlined how trade conditions, emerging technologies, workforce changes, and climate events are reshaping business risk globally. The report noted that these interconnected pressures demand more comprehensive risk strategies and cross-functional planning.
