With rising inflation, soaring interest rates, supply chain issues and a difficult labour market – business owners have less time to spend on managing risks and insurance. These factors could lead to underinsurance or incorrect insurance cover, as your business has changed, or the sums insured haven’t kept up with rebuilding costs or inflation. This means your business could be exposed to potentially large uninsured financial losses.

If you own or rent a commercial property, and you want to mitigate risk then it’s a good idea to protect yourself with this type of cover.

Storm damage, fire, theft, or accidents on your property, are all possible hazards that could hurt your business property.

This deep dive into what Commercial Property cover is and how it can protect you, will give you the information you need, to make the right decision.

Does your business, make, import, sell, distribute, repackage or repair products, if so, you can be legally liable for personal injury or property damage, as well as any resulting financial loss due to faults or problems in the product.

Continue reading Product Liability Insurance Explained

Business owners manage a whole host of risks, bushfires are just one. Depending on where you live the main fire season can vary from Winter & Spring for the northern Australian states and territories to Summer for the southern states and territories. It’s important to prepare and part of the preparation is to check your insurance is adequate. Continue reading Tips to prepare and protect your staff & business this bushfire season

Most small business owners are aware of cybercrime, hacking and the dangers of ransomware, but have you ever considered that social media might be a problem?

It’s fair to say that social media has a positive impact on many small businesses, virtually transforming the way they communicate with their target audiences. In fact, businesses with a large social media following can significantly boost their sales and revenue very quickly. So how can social media have a negative impact on your business? Continue reading Making sure your business is social media secure

When it comes time to renew your business insurance policies, a lot of business owners only give the renewal notice a brief glance, not really paying attention to make sure it’s the best cover available. The problem with this approach is that you can end up underinsured or with the wrong mix of insurances. In the current hard market cycle of the insurance industry, where premiums and excesses are rising and the number of insurers offering quotes are reducing, it’s more important than ever that you not only renew your policies, but that you review them as well. Continue reading Don’t just renew: a guide to reviewing your business insurance

You will already be aware of the main threats to your business, such as fire, theft, vandalism, storm damage and cyber-crime. However, whilst your premises are unoccupied or temporarily shut down during lockdown, these now regular circumstances for many Australians highlight additional risks that you might not have had time to consider. These are risks to your business or buildings when closed or unoccupied for an extended period of time, which can pose a significant threat. You will also need to let your insurance company know, if the closure or unoccupancy is likely to be more than 30 – 60 days, as it can have an impact on your insurance coverage. Continue reading Safeguarding your business premises during COVID-19 temporary closures

If small business owners focused on the negatives, they would never be successful. However, there’s a risk in always focussing on the positives and ignoring what could go wrong. This is where an insurance adviser comes into the picture because they focus on the negatives for you, minimising and reducing the financial risk to your business. Continue reading The value of using an insurance adviser for your business insurance

As a business owner, one of your biggest priorities is to manage and reduce the risks, including financial risks faced by your company. These risks can include boarder closures, lockdowns, new competitors in your market space, health and safety risks at your warehouse, data breaches/hacking, and so on. There are many ways to mitigate these risks, one of the strategies you have available is transferring your biggest financial risks by taking out insurance. Continue reading How do you balance the costs of insurance with the risks to your business?