Most people are aware inflation has been on the rise in recent months due to COVID-19 impacts. However, many are not aware of how significant the impact has been on the construction sector and what that means for their property insurance. As a result, the gap between what most people are insuring their properties for […]
According to the Insurance Council of Australia, most business interruption policies weren’t designed to cover pandemics. Insurers didn’t factor them into their costs, and reinsurance wasn’t generally available for pandemic cover. This means there were no reserves set up for pandemic-related claims. But businesses shouldn’t necessarily see that as a brick wall to claiming on business […]
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 […]
On average, one in five Australian small businesses have been party to a dispute, with most of them experiencing financial loss, according to a government report. As well, small-to-medium-sized enterprises are at risk of unfair dismissal claims, with the Fair Work Commission listing at times with hefty costs. Work-related injury and diseases cost Australian companies $61.8 billion annually, says […]
Who would have thought finding a decomposing snail in a ginger beer bottle would open up a new principle – duty of care – which is the basis for product liability? The landmark 1932 case (Donoghue v Stevenson) set down UK common law that continues to underpin Australian liability law. There’s also another Australian link. […]
The insurance market is a ‘hard’ or sellers’ market right now. So, what does that mean, and what’s the likely impact on your business? Think of the insurance cycle as a clock. At the top, the 12 mark, where we’re heading, is the hard market, when insurance premiums get pricey. At 3 o’clock, you’ll see […]
