When it comes to protecting commercial property, terrorism insurance might not be the first thing on your mind, but it’s an important aspect to consider. The Australian Terrorism Insurance Act of 2003 mandates coverage for “declared terrorist incidents”, ensuring businesses are protected from financial losses following an attack. This law addresses global terrorism risks, offering another layer […]
Flooding is a major and worsening risk for many Australian property owners. Recent findings from Monash University reveal that 370,000 homes and 120,000 commercial properties face a 1% annual risk of flooding. That translates to a significant number of properties at risk. Plus with climate change, these risks are expected to rise even further. Whether you’re a […]
Find out about the five most common claims Aussie SMEs make on their insurance and how your business can reduce your risks. Protect your SME with better risk management & the right insurance coverage.
Fire and flood catastrophes can often alert farmers they’re underinsured. It can often hit as a double shock. Not having the right level of coverage is more common than you might think. For example, up to eight in 10 bushfire-affected properties may be underinsured, according to the Insurance Council of Australia. Why are farms underinsured? […]
NSW is looking to make latent defects insurance (LDI) compulsory for high-rise residential buildings by 2028. This transformative move has been described as a “game changer” by insurance law firm Wotton + Kearney. Read on to find out more about latent defects insurance and the mooted changes in NSW. The Building Compliance Crisis Industry commentators argue […]
Australia has about three million rental homes and about 1.7 million landlords, according to University of Sydney research . About one in three landlords own more than one property. But despite their numbers, plenty of misconceptions abound about landlord insurance. This article covers the main four ones. Not tenanted? You should still insure it Typically, a landlord policy will […]
Leaving your commercial property unattended during the upcoming summer holidays poses many risks. But these can be managed with some forethought. The responsibilities are a group effort, though. They’re shared between owners, tenants and their representatives, those parties involved in managing and occupying such a property. Depending on your building’s type, layout, use, and whether […]
With commercial property landlords enjoying returns of up to 12%, it makes sense there would be more risks and work involved. We’re talking about commercial properties such as office suites, shops, factories, warehouses, restaurants or hospitality venues, even car parks, etc. Exposed to economic changes The landscape for commercial leasing is changing due to the […]
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 […]
