UPDATE: Business interruption insurance, COVID-19 – is it even worth making a claim? Get the honest facts.
There are significant developments in respect to Business Interruption Insurance coverage for loss of income due to COVID-19 lockdowns. As recently reported in the Australian Financial Review, the Australian insurance sector is potentially facing a $1 billion exposure to COVID-19 losses. With the Victorian Andrews government enforced lockdowns continuing to […]
Read More
Mining Contractors – Do You have the Right Insurances in Place?
Are you a mining contractor supplying services and products to the Australian mining industry? Then you will need to make sure you have the right business insurance protection in place. The mining industry in Australia provides abundant opportunities for Australian businesses to supply valuable services and products to Australian mines. […]
Read More
Sending your employees overseas? Then you need to check if your insurance covers COVID-19
Businesses are having to take extra precautions to ensure their employees are travelling safely. In a COVID-19 world, making sure you have the right travel and expatriate medical insurance for your employees is crucial. The Australian Government continues to maintain their ban on overseas travel from Australia. This means you […]
Read More
COVID-19 – Small Business Insurance Relief Package
Suncorp, Allianz and QBE to provide co-ordinated relief measures to business insurance policyholders. The proposal includes 6 month deferral of premium payment for eligible customers. This morning the Australian Competition and Consumer Commission (ACCC) announced that it has authorised a COVID-19 relief package for insurance policyholders. This follows an application […]
Read More
COVID-19 – Cyber Insurance and Risk Alert
The majority of businesses are now employing a remote workforce. Make sure you don’t open your network to cyber criminals in the process. Cyber Insurance and Risk Management can help protect you. COVID-19 themed text messages appear to come from “GOV” as the sender. They include a link to find […]
Read More
Does Business Interruption Insurance cover Coronavirus?
As COVID-19 continues to escalate around the world, business owners are asking one big question. Will my Business Interruption insurance cover me for loss of income due to Coronavirus ? Unfortunately, most business insurance policies will not cover loss of income as a result of Coronavirus. Business Interruption is […]
Read More
Does Travel Insurance cover Coronavirus?
As Coronavirus (2019-nCoV) continues to escalate worldwide, travellers are asking will Travel Insurance cover me? The World Health Organisation (WHO) has declared Coronavirus a public health emergency of international concern. In addition, the Australian government has introduced strict travel restrictions relating to travel to and from mainland China. DFAT has also […]
Read More
Why every business needs Cyber Insurance
The answer is simple. The risks posed in today’s digital world mean a cyber event is more likely to cause catastrophic harm to your business than any other physical event. Insurance is traditionally purchased for losses arising out of either property damage or personal injury. What the insurance industry has […]
Read More
Managing Cyber Risk with Good Governance
ASIC report 429 provides a very comprehensive overview of the Cyber Risk and Security landscape and contains practical advice on what steps organisations need to take to improve their “Cyber Resilience”. Within the report it states that “any business that interacts over electronic networks or the internet, or is reliant […]
Read More
Insuring for Loss of Revenue following a Cyber Attack
Cyber Insurance can cover loss of income – but buyer beware. Business Interruption Insurance is what keeps most businesses alive following a major loss event. A full frontal cyber attack can be just as damaging to a business as a major fire. However, the extent of business interruption coverage available is […]
Read More