Gallagher News and Insights

H1 2021 Business Insurance & Risk Market Update: June report overview

11 June 2021

As Australia enters a new financial year with the economy in better shape than expected, risk factors in most insurance covers have ramped up significantly, putting ongoing pressure on businesses to anticipate and demonstrate strong risk management.

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How your business can use surety bonds and maximise working capital

20 May 2021

For businesses offering services and contracts in a supply chain to other businesses, effective balancing of short and long term costs and income is a common challenge. When these businesses need to provide financial assurance in advance of supplying a contract to another business, surety bonds are a popular and more flexible alternative to bank guarantees.

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What the 2021 Budget means for Australian businesses summarised

17 May 2021

The Federal Government’s 2021 Budget extends some of last year’s temporary measures intended to provide relief to Australian businesses and facilitate opportunities to stabilise and continue to trade profitably. Some provisions target industry sectors and small to medium sized businesses specifically. Here’s a short summary of the key takeaways.

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A financial officer’s guide to balancing risk and insurance costs

12 May 2021

Financial officers are all too familiar with the pressure to exercise tight cost controls. This article provides guidance to those looking to safeguard their business, achieve optimal premium outcomes and cost containment.

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Professional profile: Queensland hospitality insurance specialist Justin Riseley

11 May 2021

Exploding gas bottles, cyclones, fires, armed hold-ups… insurance for the hospitality industry is always diverse, often complex and never boring, says Justin Riseley, an authorised representative with Gallagher in Brisbane, whose 30+ years in the sector have delivered some colourful claims.

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2021 Gallagher Cyber Insights Report on Australian businesses

06 May 2021

Against a background of dramatically escalating security threats to Australian businesses as cyber criminals exploit the greater attack surface provided by changed conditions, we deliver the Gallagher Australia 2021 Cyber Insights Report as a valuable resource to help local businesses improve their defences and gain practical knowledge.

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Waste and recycling businesses ‒ guidance ahead of insurance renewals

04 May 2021

Along with many other industries the waste and recycling sector faces challenges with obtaining insurance cover and increases in premium rates. These conditions are general for all businesses but there are some strategies that can improve the cover and the terms you can obtain. Mark Bramley, Newcastle Area Director at Gallagher, provided key guidance to WCRA NSW at a recent NSW workshop and...

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Navigate business insurance renewals with confidence

29 April 2021

Are your business risk exposures and assets the same as they were 12 months ago? As many businesses make adjustments to how they function to meet changing economic conditions, to respond to consumer demand or make improvements over time, insurance renewal is an opportunity to review your risk exposures – and how much of what type of cover you’ll need over the coming year.

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Transport drivers’ health targeted for workplace risk action

27 April 2021

Transport driving represents the most common occupation for Australian males, employing 1 in every 33 men. However, this same group is also at greater risk of workplace injury. And it’s not just their physical health that’s involved: psychological wellbeing is also a serious issue, particularly for younger drivers.

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Insolvent trading post COVID-19 pandemic relief: directors’ liability risks

22 April 2021

While the Australian government’s temporary COVID pandemic exemption to insolvency laws during 2020 provided relief by suspending some business directors’ duty relating to insolvency risks, their obligations in 2021 have reverted to the standard insolvency liability regulations.

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How to create a business continuity plan and improve your business risks

19 April 2021

Having a contingency or business continuity plan can make the difference between survival or going under in the face of major disruptions. On the flip side it can also help to unlock growth. To help you manage business risks find out how to formulate your own plan using a business continuity template developed with our insurance partner Vero.

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Want to experience better business insurance claims? Find out why brokers are key

14 April 2021

Having an insurance broker advise, guide or manage the claims process is closely linked to satisfaction with the experience, according to a recent report based on a survey of Australian small businesses. This trend has strengthened over the past few years in parallel with the hardening insurance market and greater claims scrutiny by insurers. We look at some of the factors involved.

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5 essential business risk guidelines for safely managing contractors

08 April 2021

If your business uses contractors to carry out services for you or on your behalf, this guide for employing and managing them to avoid potential exposures is designed to help you create an effective contractor management framework to reduce your business risks, as defined by our insurance partner Vero.

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Implications of cyber breaches for company boards of directors

01 April 2021

Our Top Cyber Risks for the Board of Directors webinar, presented by Robyn Adcock, Cyber and Tech Practice Leader, Michael Herron, National Head, Professional and Financial Risk, with Clyde & Co partner John Moran and Huntsman CEO Peter Woollacott, examines the risks and consequences of cyber breaches for business’s executive management.

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3 steps to protecting your investment in business assets and stock

30 March 2021

For most businesses there’s an array of moving parts behind your brand name: logistics that enable you to run your operations and service your customers. It would be difficult to sustain your business without them, which is why you want to make sure these assets are adequately protected.

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The keys to SME satisfaction with business insurance – new survey results

24 March 2021

This is the 10th year of the Vero SME Insurance Index and the insurer has highlighted some long-term trends, as well as reflections from small to medium businesses on their risks and insurance during 2020, including adjustments to of their insurance cover in response to the pandemic. Here we review some of the key findings.

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Avoid shutdown losses if your machinery or equipment fails

23 March 2021

Almost every business relies on equipment, from desktop computers through to refrigeration, manufacturing plant and heavy machinery. They’re essential tools and if they’re not working then we can’t either. Businesses need contingency for these risks, and that’s what machinery and equipment breakdown insurance is for.

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Emergency warning: flood conditions in parts of NSW

22 March 2021

Parts of New South Wales from the Mid-North Coast to the metro area and across the Mid-North Coast are under emergency conditions as flooding in the Hawkesbury-Nepean River system has reached levels not seen since 1961.

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Risks to miners increasing with rising resources nationalism

19 March 2021

The mining industry is likely to bear the brunt of rising nationalism in countries with economies reliant on their resources, according to a report by global risk analyst Verisk Maplecroft. The report cites 34 countries where resource nationalism has surged, with cost implications for mining companies.

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COVID-19 food and beverage production industrial contamination: response and protocols

16 March 2021

Australia's meat and poultry food production sector is regarded as essential to the nation’s wellbeing by the country’s federal and state governments. During the ongoing pandemic meat products continue to be in high demand and to maintain continuous supply food production companies need to be confident they can prevent and mitigate any contamination threats.

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