Increasing claim numbers, the pandemic, cyberattacks and natural disasters are some of the reasons directors’ and officers’ liability (D&O) insurance premiums are rising. Another is less competition, as six insurers decided in the past year to no longer offer this cover. However, premiums were on an upward trajectory even before the pandemic began. D&O insurance […]
Around the globe, people are using telehealth 38 times more than before the pandemic, and that’s happening for virtual evaluation, advice, diagnoses, and sometimes treatment, says professional services firm KPMG. We’ve also seen the advent of virtual rooming assistants who admit patients into digital exam rooms. They take notes about medical histories, saving health care providers time […]
Victoria’s recent magnitude 6 earthquake seemed like a rare event, but Australia experiences an earthquake daily, as Geoscience Australia shows. Luckily, we only get the magnitude five and above ones that do damage typically twice a year, but there will also be 80 magnitude 3 earthquakes, as well as larger ones annually. Expect magnitude 5.8 to 6 […]
While public liability insurance isn’t compulsory for some business types and sectors, these actual cases may prompt you to consider this cover. And if you have it, ensure you review it regularly to better fit your business needs. At the crux of public liability is negligence. You could be liable if your business has failed to take […]
One of the biggest banes of agriculture isn’t unpredictable weather patterns of droughts and flooding rains, too few harvest workers, rising costs, or the shrinking prices grocery chains pay your business. It’s cyber threats. Cybersecurity is a significant and growing threat to the Australian agricultural industry. The sector was the sixth most likely to record a […]
Every insurance policy has limits that state the maximum monetary figure that will be paid out in the event of a claim. Indeed, some policies will have multiple limits and sub-limits. This article will demystify the different types of limits you’re likely to encounter with your package of insurance coverage. You’ll find out about policy […]
The road transport industry, which includes road freight and road passenger transport, has been named as a national workplace health and safety priority. That’s due to a high fatality rate – 583 in the 12 years to 2015. At the crux of the issue are careless or deliberate human behaviours causing more than 90% of fatal […]
Most people are aware inflation has been on the rise in recent months due to COVID-19 impacts. However, many are not aware of how significant the impact has been on the construction sector and what that means for their property insurance. As a result, the gap between what most people are insuring their properties for […]
According to the Insurance Council of Australia, most business interruption policies weren’t designed to cover pandemics. Insurers didn’t factor them into their costs, and reinsurance wasn’t generally available for pandemic cover. This means there were no reserves set up for pandemic-related claims. But businesses shouldn’t necessarily see that as a brick wall to claiming on business […]
About one in ten of us are landlords, compared with one in 15 about two decades ago. And, the latest Census shows about a third of Australian households (2.6 million, to be specific) rent. But, with the Australian government’s rental debt relief, eviction bans, rent freezes, and JobKeeper disappearing at the end of March, there was potential volatility […]
