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 […]
Trucking safety has improved over the past decade, but there’s still a need to protect truck drivers at work better. Heavy vehicles have been involved in fewer crash fatalities since 2003. That’s despite more freight movements (55%) and road freight volumes (51%) in that time, according to a national insurance body. However, the fatality rate for truck […]
Supply chain disruptions – shipping issues and computer chip shortages – mean there can be up to year-long delays in accessing new vehicles. It’s, therefore, important to keep your existing fleet well-maintained in the interim. In the long term, these practices will save your business money and unscheduled vehicle downtime. Research shows an optimised maintenance program (i.e. predictive and […]
Last year’s wetter and warmer weather than average could be a sign of things to come. And that trend is not just because Australian agriculture has endured three La Niña weather patterns in a row. Uncertainty and extremes are the themes for our country’s future climate and globally. Last month, the Intergovernmental Panel on Climate […]
According to the Australian Bureau of Statistics, in those industries with the highest rates of injuries, 43% are small business workers. They include construction, agriculture, mining, transport, manufacturing, and warehousing. But Australian small businesses can do more to minimise the risks of employees becoming injured at work. Those that adopt best practices enjoy these benefits: However, in its […]
