Corornavirus & Business Interruption Insurance

While Australia has been relatively protected from the spread of Coronavirus (COVID 2019) many businesses have been disrupted due to travel, import and or export restrictions. The purpose of this article is to explain and warn that general insurance is unlikely to provide the protection that it does for traditional risks such as fire, burglary…

What is Underinsurance?

Insurance is a form of risk management, delivered in the form of an insurance contract. The purpose of that contract is to hedge against the risk of uncertain future events, such as catastrophic weather or accidents. Underinsurance is when you do not have insurance that covers all of your risks, or when you have coverage,…

Annualised Salaries – pros and cons

If you have adopted annualised salaries in your business…watch out. There have been numerous high profile wage underpayment scandals reported in the media recently…so you need to make sure you don’t make the 6 o’clock news too. New obligations will take effect from March 1, 2020 and are likely to have a significant operational impact…

Bushfires and business interruption

Some insurers have already started to pay claims to bushfire-affected businesses on the NSW South Coast, as their business interruption insurance policy provides for weekly payments. Having this support has been important for affected firms to stay in business. It allows them to maintain their cash flow and pay regular outgoings such as rent and…

The Client Experience

What is the “client experience” and what does it mean to you…the client?. Have you ever felt like you are simply a client number and not an actual person to a service provider? Recent research has shown that you, as a broker-client, need to know that you are important to the business providing services to…

Cyber Risk Insurance

Cyber insurance first emerged in the late 1990s as a response to Y2K concerns. Since then, there has been an escalation in the reliance on technology, and the cyber risks of doing business have exponentially increased. It is still an emerging area of risk and insurance, and not all policies are created equally. There is…

Travel Insurance – Changes and Pitfalls

Anyone who is travel savvy buys Travel Insurance when they’re venturing on a trip because they know that it can be a life saver. What could be more reassuring? Cover for all those unexpected dramas that could cost you thousands, like emergency medical expenses, lost and stolen baggage, flight delays and cancellations. Even legal expenses…