Business Insurance

Professional Indemnity Insurance

Covers legal liability to compensate third parties for loss sustained by them arising out of negligent acts, errors or omissions or civil liability on the part of the Insured in the conduct of their business. The time is past when $1 million sum insured is adequate for most Professional Risk policies. For more than 20 years this sum insured has considered a reasonable amount for most small to medium sized professional practices. But insurers have reported a significant number of claims are now exceeding this amount, even for Insured’s with annual fees/revenue much less than this amount. In general, a sum insured of less than $5 million is unlikely to be adequate for even a small practice which assesses its exposure as low.

Management Liability Insurance

Management Liability policies with statutory liability provisions are now considered to be an essential insurance policy for any PCBU. These broad policies can provide cover for defence costs and fines arising from breaches of statutory offences providing defence costs along with covers for many of the management risks which businesses encounter such as:

• Directors and Officers liability
• Employment practices liability
• Statutory Liability – defence of regulatory breaches and some penalty payments
• Fidelity or crime committed by staff
• Business crisis consultant fees
• Cover for OH&S and pollution defence costs and pecuniary penalties (as permitted by law)

Tradesman Insurance

Tradesmen face a wide range of exposures relating to liability for property damage and bodily injury arising from their work. Consideration should be given to any digging exposures that they may have along with any hot works that are performed. Loss of tools is also a common occurrence for tradesmen with many surprised by the replacement costs of these items. Policies vary widely in relation to the coverage that is provided under both the liability and tools section. Insuring your vehicle appropriately is also a key consideration along with items such as hire car costs in the event of an accident. Income protection is also an area for consideration for self employed tradesman. All tradesman should consider having a management liability policy or similar policy providing coverage for statutory exposures.

Cyber Risk Insurance

Covers claims arising from your use of the internet, email, intranet or your website. Cover can include breach of privacy, damage to your network or website, transmission of a virus, third party liability and cyber extortion.

Marine Transit Insurance

Covers loss or damage to goods and/or merchandise whilst in transit. Cover is available within Australia and/or Overseas.

Event Insurance

Whether you’ve organised a one-off corporate function or a large- scale festival, you’ll know just how stressful arranging an event can be. There are so many things out of your control, including weather, ticket sales and even the behaviour of your attendees.

Public and Products Liability

While public and product liability insurance isn’t mandatory for most businesses, it is recommended for all companies. That’s because the unpredictable nature of accidents makes them hard to prevent – and the costs of being sued can be extraordinarily high.

Commercial Property Owner

Commercial property owner insurance protects the building owner in the event of damage being suffered to their building. You can take out cover for a broad range of exposures depending upon the type of building and tenancy.

Corporate Travel Insurance

Covers baggage, overseas medical expenses, money, personal accident and loss of deposits for insured persons whilst travelling on the business of the Insured. This policy is often purchased on an annual basis with the insured client as beneficiary.

Building and Construction / Contract Works

 Construction projects involve multiple stakeholders and are often undertaken on challenging sites. Construction businesses must often manage changes to scope or orders, poorly written contracts and specifications and complex project management issues. They may need to deal with labour and materials shortages, or theft of tools and materials.

Association Liability & Not For Profits

This policy is designed to protect the office holders of the Association from exposures such as

• breach of professional duty
• breach of fiduciary duty
• defamation
• breach of the Trade Practices Act, and other statues
• occupational health and safety proceedings
• infringement of intellectual property rights
• breach of confidentiality
• allegations of illegal or improper conduct
• wrongful dismissal, discrimination or harassment claims from employees

Property Developers Insurance

Property Owners face a wide range of risks. Covers that should be included are Fire risks, loss of rent income cover along with their own glass and liability exposures. Theft of building parts can also be prevalent. Property owners can also face exposures for safety breaches that occur on their property. It is rarely wise for a property owner to let the tenant insure the property on their behalf.