A Must-Have For Many Businesses Many business owners are unaware their standard business package insurance will not cover pollution remediation. It’s likely that contractors and other professionals working on major infrastructure and construction projects will have appropriate cover, but the cover is not just for heavy industry. Businesses with high risk include dry cleaners and […]
Weather Events Demand a Closer Look Following on from the previous article in the last edition of Brokerwise, we continue to focus on the impact of Co-Insurance or “Underinsurance” as it is more commonly known. The importance of considering and selecting appropriate and adequate Insurance Policy Limits or sub limits of liability are paramount and […]
Don’t Cancel Your Cover The business has closed, it’s no longer trading, no more parts or products being manufactured or imported. No more installations or maintenance. No goods for sale. So, time for retirement or a change in direction. We just need to cancel the insurance. Well, not exactly. There is an element of insurance […]
Changes on the Way With the recent election of the Labor government in Queensland, the repeal of the impairment threshold for access to common law claims arising out of workplace injuries seems imminent. Changes to the WorkCover scheme, introduced in October 2013, meant that workers assessed with 5% impairment or less do not have access […]
For decades, the employment section of the newspaper was traditionally the way job seekers got connected with employers…but that doesn’t work anymore! Job seekers, especially young ones, just don’t bother looking there. The job-hunting space has been taken over by web-based employment agencies such as Seek and myriad jobs boards in niche industries, colleges and […]
There’s No Quick Fix The Brisbane hailstorm event of late November 2014 led to more than 102,300 claims worth $1.08billion. The storm caused extensive damage to homes, businesses and vehicles as it ripped through the city at rush hour. The event may have slipped from front-of-mind position for many of us but there is a […]
What is it? Where is it? In the simplest terms, ‘cloud computing’ means storing and accessing data and programs over the Internet instead of on and from your computer’s hard drive. ‘The cloud’ is just a metaphor for the Internet. There is no real, puffy white cloud involved; it’s just a 3rd party service provider’s […]
Surverys Reveal Alarming Statistics Probably due to the harsh reality of the current economic climate, it is estimated that 1 in 6 small businesses have no insurance of any kind. Of businesses that are insured, half of these are insured for only 60 to 85% of Replacement Value. And it gets worse with the revelation […]
As a result of the Lindt café hostage siege in Sydney that ended in tragic circumstances, the Federal Government has now determined the actions of the gunman was a terrorist act. This declaration was a key point for the insurance industry as the Terrorism Insurance Scheme that was created following the Terrorism Act 2003 can […]
Most insurers will allow you to increase your excess to reduce your premium. Why? Because when you increase your excess it shifts some risk from the insurer back to you. It represents a saving for insurers, as they no longer have to pay out numerous small claims. Often people see a higher excess as one […]
