The insurance that protected your business five years ago may no longer provide the protection you need today. As your organisation expands, acquires valuable assets, opens new locations or becomes more dependent on specialised equipment, the financial consequences of a major loss can become … [Read more...] about ISR vs Business Pack Insurance: When Should Your Business Make the Switch?
When your business grows, your risks tend to grow with it. A larger premises, more expensive machinery, higher stock levels, multiple locations and greater reliance on supply chains can all create exposures that your typical Business Insurance policies may no longer be designed to handle. If you … [Read more...] about When Standard Business Insurance Isn’t Enough: A Guide to Industrial Special Risks (ISR) Insurance
There’s no doubt that the COVID-19 pandemic continues to impact businesses around the world. Lockdowns, border closures, economic volatilities and the looming influence of a pandemic have put many businesses through significant hardships. One way Australian businesses may be considering to recoup … [Read more...] about COVID-19 Insurance Update: Court “Largely In Favour” of Insurers – Business Interruption
As the world continues to be affected by the COVID-19 pandemic, Australian businesses are finding different ways to both survive in the market and recoup any losses directly associated with the coronavirus. One way businesses are working to recoup losses is through their Business Interruption … [Read more...] about COVID-19 Insurance Update: Small Businesses Take on QBE and Lloyds
There’s no doubt that the COVID-19 pandemic has caused (and continues to cause) a lot of damage to businesses Australia-wide. As such, many organisations that have Business Interruption Insurance policies have asked the valid question if they could make a claim. Insurance companies argue they do … [Read more...] about COVID-19 Business Interruption Update: Clarity “Not Expected This Year”
Hundreds of thousands of small businesses in the UK are expected to be receiving Business Interruption payouts after a ‘historic victory’. Britain’s Supreme Court has ruled against QBE, requiring the insurer to pay out a number of claims related to COVID-19 losses. The main point of contention … [Read more...] about Is Australia Next? Britain’s Court Rules QBE Liable for COVID-19 Claims
https://www.youtube.com/watch?v=ivWKKCpMPCQ NSW Court of Appeal rules against the insurers and in the favour of policyholders. This article is an update from our previous article - Business Interruption Insurance, COVID-19 - is it worth making a test claim? Here, we mentioned the NSW Court of … [Read more...] about UPDATE: COVID-19 Business Interruption Test Case – NSW Court of Appeal Rules Against Insurers