INSURANCE NEWS

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Your rights & responsibilities in notifying a PI Insurance claim

Professional Indemnity Insurance provided on a ‘Claims Made’ basis mean you have certain responsibilities to notify circumstances throughout the policy period. Whether they eventuate or not, it is important to notify all potential circumstances to your Insurer during the current period in order that cover is afforded.
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Are your contractors really employees?

If you're unsure you may be in danger of fines up to $630,000 for company’s and $126,000 for directors. Read our simple checklist to see if you are employing, and you do not meet the criteria of engaging a subcontractor.
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Limited Events Cover v Accidental Damage

The purpose of insurance is to provide protection when you need it most, yet the selection of the insurance protection is often chosen on price, not the quality of the protection. The challenge with a Limited Events insurance coverage (sometimes referred to as Defined Events) is that the insurance only responds to the listed events, so many exposures remain uninsured.  This often can be discovered too late, leaving you financially exposed.
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Do you Need Product Recall Insurance?

A key financial risk is the exposure to a product recall caused by contamination, mislabelling, or malicious activity. Insurance can respond to the event (the defect) that triggers the need to repair / replace, which is often referred to as a Contaminated Product or Product Recall insurance policy.
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The Point of Professional Indemnity – why bother?

If you are offering advice within your profession and a loss is suffered by the third party, you may be held liable Often the value in a Professional Indemnity policy is the defence costs. Without insurance protection you may be putting your personal assets at risk.
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ACCC 'Targeting Scams' report highlights increased risk of being scammed.

Last week the ACCC released its ninth annual 'Targeting scams' report. Providing great insight into the scale of losses and trends around the different types of scams. With a 13% increase from last year. - $340M in combined financial losses.
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WorkCover Invoice Monthly Payments

Turn your BIG Worksafe Bill into small, 10 monthly payments. Instead of paying your Workcover bill in one lump sum or quarterly payments spread it over 10 monthly payments.
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The 6 Biggest Mistakes Businesses make

Common mistakes businesses make when assessing business risks and making insurance decisions.

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