What is business insurance?
Business insurance is designed to protect your business and assets against unforeseen events. Depending on your occupation and industry, we can tailor a business pack to suit your insurance requirements and also recommend stand-alone policies such as professional indemnity or cyber.
Who should consider business insurance?
All business owners should consider taking out some level of insurance.
Summary of covers available
- Public liability insurance – cover against third-party personal injury, property damage and advertising liability claims
- Physical loss or damage to your business premises (building/contents, stock, glass etc.)
- Physical loss or damage to your business tools and other portable equipment (general property)
- Legal action by employees (employment practices liability)
- Legal action by government (statutory liability)
- Professional indemnity (For occupations involved in engineering, designing or providing professional advice)
- Management liability (combined policy covering directors and officers, employment practices liability, statutory liability)
- Cyber (financial loss associated with cyber attacks, hackers, extortion)
- Machinery/equipment breakdown
- Employee dishonesty: covers losses resulting from employee theft or fraud
- Tax audit (costs associated with auditing by the ATO)
- Money (loss of money)
- Medical malpractice
- Theft (replacement of stolen business property)
- Marine transit (to cover loss or damage goods in transit – overseas, interstate or inland)
- Business vehicles
What are the risks of not having insurance for your business?
Starting and running a business always comes with risk, but not having insurance can place significant financial strain on your business in the event that something should occur, which could ultimately lead to reduced profits, a loss of income, liquidation/bankruptcy and possibly legal claims against you. It is important as a business owner to seek out suitable types of insurance to protect your assets, income, and employees.
Below are some of the many occupations we can cover:
- Financial Advisors
- Property Owners
- Oil, Gas and Mining
- Administration Occupations
- Information Technology Services
- Transportation Services
- Caravan Parks
- Security and Fire Services
- Gym/Fitness Centres
- Associations and Sporting Clubs
- Gardening Services
- Real Estate Agents
- Pest Control