Conflicts arising from the workplace have become increasingly common, in particular with current market conditions affected by the global pandemic. SMEs are subject to legal action which can be financially devastating for both the business and its executives. The need for Management Liability insurance has grown in importance. Management liability insurance covers the costs of…
You lodge a claim with your Insurer, you receive your payment, that is the end of it right? Sometimes yes. However occasionally, that is just the beginning. That is because your policy of insurance most likely gives your Insurer a right of Subrogation. So, what exactly is Subrogation and what does it mean for you?…
In September 2020, Deloitte Access Economics released a report outlining the value provided by insurance Brokers. The report highlighted that those Brokers supporting Clients throughout the claims process can lead to better outcomes for Clients. This conclusion was expected for insurance practitioners who understand the role of a Broker in the claim process, which includes:…
Social media is everywhere. It’s unavoidable, it’s powerful, and it’s here to stay. That being said, social media does come with a set of risks. According to the latest EY Global Information Security Survey, 59% of organisations had a “material or significant incident” in the past 12 months. In fact, social media risk management is…
As our reliance on technology, the internet, and all things digital continues to grow, so does cyber risk. For businesses of all sizes and even government bodies, falling prey to cyber attacks is one of the key areas of concern every day. Evidently, every business with an online presence or electronic data records is potentially…
The unprecedented COVID times have seen a dramatic increase in the number of staff for many businesses who work from home. Whether such a shift has been voluntary or forced by reason of COVID-19, restrictions and lockdowns, it is understandable that keeping staff productive when they are not in the office has become a major…
COVID-19 has thrown many travel plans into disarray in 2020 & beyond. If you were one of the many Australians with a trip booked, hopefully you had travel insurance, and you are able to claim on some or all of your losses. However, that will depend not only on what your policy covers, but also…
Running your own business is exciting. It can also be risky. As a business owner, you’re exposed to a variety of business risks that could damage your business, cause you extensive financial problems or even sink your business altogether. But if you’re protected with the right insurance, you can go about your work with the…
The increasing popularity of online shopping has incessantly made it difficult for retailers to maintain their bricks and mortar stores. Then along came COVID-19, which forcibly opened the world up to online shopping and changed our spending habits. Besides, COVID-19 is not going anywhere fast. Between the increase in online shopping, and the ever present…
A recent case made by the Australian Financial Complaints Authority (AFCA) reaffirmed the importance of obtaining professional advice when considering any type of insurance product. The case involved a claimant who sustained damage to his laptop and televisions due to a power surge. He contended that the damage was caused by a bat that had…