Insurance is somewhat of a grudge purchase, most people don’t really want to pay for it as you may never claim or need help with your policy and it can feel like a cost that just ticks over year on year. My question to you is ‘do you know if your policy will cover you at claim time?’
As a Natural Therapist, if you were to source your own cover for public liability and professional indemnity the prices would start at $1000+ per year. So having access to a scheme for your industry is a luxury that not everyone else is entitled to however, by taking advantage of scheme pricing there are things to be wary of. One of the reasons these policies are so cheap is because it can be...
Sydney, 10th September, 2015
Danny Gumm offers his perspective on the evolving insurance industry and how an insurance broker can help your business navigate your insurance policy and avoid costly pitfalls. Danny was Branch Manager of our Beenleigh office before retiring in 2016.
Why do you need public liability insurance?
The laws in Australia hold us each responsible if we cause others loss, injury or damage. This is described as your legal liability.
The key to successful insurance planning is to make sure that you’ve got the right amount of cover in place to protect you when the unexpected happens. Many businesses are at risk of being underinsured for their business contents. We understand the need to manage costs, however, it is important this is not at the expense of insurance cover.
We all make mistakes. But some mistakes are more costly than others – such as the $1.6 million worth of defects in a West Australian commercial development that a design company was recently held responsible for. Luckily, the company had professional indemnity insurance and was able to claim the full amount on their policy. Without this insurance, the designers would have incurred a massive...
When you first decide to start your own business, you need to accept that a common companion along the way to any success is about managing risks. Most of us like to think that it will all be smooth sailing. The simple fact is that the pathway to your success is far more likely to be filled with peaks and troughs, and your ability to maximise the peaks and even out the troughs, will go a long...
If you have a bad debt of $120,000 and work on a margin of 5%, then you need to generate $2,400,000 of sales to make up the lost profit.
Increasing claims and more aggressive laws covering directors are making management liability insurance a must-have policy.
Business interruption insurance looks at what level your business was trading at before an event (such as a flood or bushfire) and can cover the financial gap you experience due to the event.
Before you can build a business continuity plan, you need to have a good understanding about the risks facing your business. Many of your stakeholders may already assume that your business has a complex risk management process already in place, and they expect leaders to actively identify, assess, monitor and manage risks.
No one knows more than you how much time you have devoted to building your business - but what happens if you, or a partner, are not around to run it? Illness and accidental injuries are unpredictable events, and no matter what careful steps you take to minimise the chance of them occurring – you cannot eliminate them. When the business owner or manager is suddenly unable to either earn an...
From time to time, the media bursts with the latest infectious disease outbreak, from food poisoning to ebola.
ITASCA, Ill., March 9, 2015: Arthur J. Gallagher & Co. (NYSE: AJG) announces that it has once again been recognized as a World's Most Ethical Company® by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices.
Brisbane, 4 March 2015 - A key partnership has been announced between the Queensland Tourism Industry Council (QTIC), the state’s peak industry body for tourism, and Gallagher, one of the world’s largest risk management and insurance broking firms.
From time to time, the media bursts with the latest infectious disease outbreak, from food poisoning to ebola. It’s a timely reminder that in these situations, you should review your insurance cover as it affects your directors and management team’s responsibilities to your employees.
Court rulings on cases in relation to 'hold harmless' clauses seem to be plaguing recruiter contracts, sparking much discussion in the recruitment, on-hire and contracting sector.
5 December 2014, Sydney – Gallagher has today announced the acquisition of Blue Holdings Group (Blue) incorporating the Blue Broking and Blue insolvency businesses.
2 December 2014, Sydney – Following yesterday’s announcement of the expansion of the Gallagher brand across Australia, the organisation has today announced the acquisition of Instrat Insurance Brokers Pty Ltd (Instrat), located in Clayton, Victoria.