As a commercial property owner, it is important to understand your responsibilities and ensure that you have the right insurance coverage to protect your property against potential damages. Unoccupied buildings During the pandemic, commercial buildings were often unoccupied temporarily or indefinitely. That can still happen today with the soft tenancy market in some parts of […]
While fewer severe storms, such as cyclones and floods, are predicted for Australia’s east coast, according to global research published recently, those storms will be more intense. They may also head south along our coasts on both sides of the country, says CoastAdapt. While building codes, such as the wind-loading standards, are currently very effective in reducing losses […]
Mining has been one of Australia’s most profitable industries in 2022-23. Iron ore and coal mining, oil and gas extraction collectively account for $170 billion in total profits, notching three of the top 10 positions in the national list. But managing the risks involving people is one of the key concerns for businesses in this sector. Safe Work […]
Franchising can be a great way to start a business with a ready-made model and resources for a fee. Research shows that four out of 10 franchisees used to work for the franchisor, making it a natural transition. Franchising is a mature sector in Australia, so franchisors are becoming creative in finding ways to expand. Even part-time […]
Australian builders are experiencing slim margins, but to help with costs, it pays to have a tight rein on your risk management. We’re not quite seeing what’s happening in the UK, where builders are pulling in the profits, charging a 10% premium over the price of an existing home. Back in Australia, you do have some […]
Two-thirds of Australian small-to-medium-sized enterprises (SME) go out of business after a cyber attack or data breach. That’s according to the latest figures from the Australian Small Business and Family Enterprise Ombudsman. Often, small business owners think they’re too small to be targeted, but they face the same threats as larger organisations. Six out of 10 […]
Your home might be your castle, but the boundary fence is your front line. What does it mean for your insurance if your fence is damaged or destroyed? This article prepares you mentally for the process should you need to claim. Are fences covered by home insurance? Typically, home insurance covers fence damage or destruction […]
Professional liability insurance – also known as professional indemnity cover – may not be compulsory for your sector. But it could be an investment in risk management worth considering. This cover offers protection against legal costs for businesses that give advice or services for a fee. Typically, accountants, architects, IT specialists, marketing consultants, lawyers, bankers, […]
Australian farmers are on tenterhooks with a 50% chance of an El Niño dry weather pattern arriving later this year. According to April’s update from the Bureau of Meteorology, that’s double the normal likelihood. El Niño alert Some climate models forecast the pattern could develop into a ‘super El Niño’. That would mean very high temperatures around the […]
Is your small business among the one in four that say they’ll go under if faced with a liability claim? That’s the alarming statistic from one insurer’s survey. More respondents said they would: At the crux is understanding the cost of and whether you would be able to fund the costs of legal action due to […]
