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Pen Underwriting’s IT Liability Product

Pen Underwriting’s Outstanding IT Liability Product

In today’s world of ever changing technology, Pen Underwriting offers a tailored  Information and Communication Technology package covering civil technology liability, general and products liability and product recall expenses.  This seamless policy provides complete flexibility, allowing a choice between one, two or all three sections of coverage.

Policy Features include (but not limited to):

Section 1: Technology Liability Coverage

  • Broad civil liability coverage
  • Breach of Professional Duty
  • Confidentality and Privacy
  • Computer Virus Transmission
  • Contractual Liability
  • Defamation
  • Dishonesty
  • Intellectual Property Infringement
  • The Australian Consumer Law
  • Warranty of Authority
  • Web Activities
  • Unauthorised Access or Use
  • Extended Continuous Cover
  • Extended Reporting Period
  • Loss of Data or Documents
  • Territory: Worldwide excluding USA

Section 2: General Liability Coverage

  • General and Products Liability
  • Cross Liabilities
  • Joint Ventures
  • Principal’s Indemnity
  • Care, Custody and Control
  • Territory: Worldwide excluding USA

Section 3: Product Recall Expenses

  • Product Recall Expenses to $250,000
  • Territory: Australia

Plus many other standard benefits. Adding in independent local claims handling and a dedication to service excellence, Pen Underwriting provides first class insurance solutions for IT Liability clients.

Please Contact Us should you wish to discuss IT Liability Insurance needs.

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Internet Trends Report 2015

2015 Annual Internet Trends Report

Take a look at the latest in Internet trends for 2015 and beyond.



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Winter Preparedness & Storm Insurance

Storm Insurance and Winter Preparedness

storm insurance

Winter is coming and we can be sure that storms and bad weather will disrupt households across Perth and WA this winter.  While storm insurance and wind, rain and water cover are all staples of your home building insurance, its always wise to be prepared ahead of time.

In the event of a large scale storm, its possible power, water, sewerage and gas services may not be working. There could be road closures, and telephone lines may be down.  You may find after a storm or flood you need emergency accommodation, welfare support services, food, water or money.


Call us as your insurance broker, or call your insurance company immediately as most companies provide 24 hour service.

  • They may be able to provide you with temporary accommodation, food and cash for immediate hardship
  • Ensure your home is secure before you leave as you are responsible for the security of your home
  • Do not attempt any repairs unless qualified as this may put you or your family at risk or cause further damage that may not be covered by your insurer


And your family and friends cannot assist contact:

  • Department for Child Protection (DCP) on 0418 943 835 for assistance with emergency accommodation, clothing, food and other essentials
  • Department of Housing on 1800 093 325 for public housing or bond assistance for rental accommodation if you are eligible

If your home has been badly damaged and you need help, call the SES on 132 500


  • Call Western Power on 131 351
  • Call Horizon Power on 132 351 if you live in a regional area.   (If you are unsure refer to your last bill)


• Start cleaning up around your home – stack loose material such as branches and debris away from water meters, valves and telephone lines

• Call your local government to get advice about the removal of green waste and other materials such as asbestos fencing.


The State Emergency Service (SES) is a volunteer division of the Department of Fire and Emergency Services (DFES), Western Australia’s leading Hazard Management Agency (HMA) for natural disasters.

SES volunteers play a vital role in responding to natural disasters and emergencies on behalf of the community.

What is the SES telephone number?

  • 132 500

Before you call the SES think about the following:

  • The nature of your enquiry and whether the SES is appropriate for your needs
  • Call triple zero (000) for fire and life threatening emergencies call
  • Call 132 500 for urgent property repairs that you cannot fix yourself.

When you call the SES

Due to the high level of demand during a natural disaster people need to remain patient and be prepared to wait.

  • Speak slowly and clearly
  • Tell them exactly where to attend
  • All requests are prioritised by urgency
  • Major structural damage will be attended to first
  • Avoid clogging up emergency hotlines with unrelated requests

What will the SES help me with?

  • Assisting with significant structural damage like collapsed roofs or ceilings
  • Making temporary emergency repairs to homes and buildings
  • Removing fallen trees that have damaged homes and cars
  • Sandbagging areas in danger of flooding
  • Pumping out flood water
  • Rescuing trapped or injured people, and helping people relocate if they are in danger

What won’t the SES help me with?

  • Clearing debris and organising permanent repairs
  • Attending to broken fences, trees that have fallen on fences or if there is debris around your property or in your pool
  • Basic repairs that you can manage yourself


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Australia’s Most Dangerous Jobs

dangerous jobs

Australia’s Top 10 most dangerous jobs

How dangerous do you think your job is? Maybe you work in construction, or maybe your office building has a less-than-stellar maintenance record. No matter where you spend your nine to five, or even five to nine, every occupation comes with inherent risks, and it’s important to safeguard yourself against them.

Still, not all jobs are created equal. Whether you’re working at a construction site or in the office there is still some level of risk. A close look at Australian occupations against Australian Bureau of Statistics data and worker’s compensation claim statistics from Safe Work Australia sheds some light on where employees have the most risk.

Of the top 10 most dangerous jobs, commercial fishing is 17 times riskier than mining, and recognised globally as one of the world’s most dangerous jobs. As for the others that made the list, some are not surprising, like miners and construction workers, while others, such as garbage collectors and farmers, were surprising.

The level of risk you come up against in your occupation is important for many reasons, but it also matters for your life insurance or income protection policy. Insurance underwriters will consider all possible health and safety risks associated with your job as well as other lifestyle factors when they determine what policy you can get and also the cost of your premiums.

While you’re not necessarily going to get injured at work, no matter how dangerous your job is, some jobs do have a lot more risk and not having any kind of financial cover may be riskier than the job itself

Australia’s top 10 most dangerous jobs

  1. Commercial fishers. This is globally recognised as the world’s most dangerous job. 
  2. Truck drivers. In 2011 there were 200 fatal crashes involving truck drivers, making up 15 percent of road fatalities that year. Truck drivers are 10 times more likely to die on the road than any other occupation. 
  3. Farmers. Surprisingly, this was considered the top three most dangerous jobs in the world in 2008. 
  4. Miners. Subject to toxic gases and explosions, 50 to 60 Australians die each year due to dangerous conditions in the mines.
  5. Construction workers. So far in 2014, 13 construction workers have died. Leighton Holdings averages 20 to 50 Australians dying each year on construction sites.
  6. Tree loppers. Every day they face the threat of overhead electric wires, unsteady branches and working with dangerous equipment such as chainsaws. Between 2010 and 2012 five tree loppers were reported dead in Sydney alone.
  7. Police. Approximately one police officer dies every year, with the force being subject to disease, abuse, injury, assault and even death every day.
  8. Firefighters. About 44 percent, of firefighters die from heart attacks, with trauma related deaths standing at 27 percent, crashes at 20-25 percent and burns and asphyxiation sitting at 20 percent.
  9. Pilots. With adverse weather conditions and possible mechanical failures to contend with, commercial pilots face high risks every day.
  10. Garbage collectors. They not only deal with the threat of accidents on the road, but are also exposed to toxins and chemicals on a daily basis that can lead to long-term damage.

Article reproduced from knowrisk.com.au, Michelle Hutchison.

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Calliden & Great Lakes Entity Change


Great Lakes Reinsurance (UK) PLC trading as ‘Great Lakes Australia’ is the underwriter of Calliden Business Package and Commercial policies. On or about 1 July 2015 Great Lakes Reinsurance (UK) PLC, will change its legal form in the United Kingdom from Great Lakes Reinsurance (UK) PLC to Great Lakes Reinsurance (UK) SE. Great Lakes Reinsurance (UK) SE will continue to trade under ‘Great Lakes Australia’.

There is no change to our clients’ cover, the quality of service you receive, or policy branding. All contacts for claims, underwriting and accounts remain the same.

Endorsements noting such will be issued as part of policy invoices, and should be read together with the policy wording and any other documents which supplement the above policy wording issued by Great Lakes Reinsurance (UK) PLC trading as Great Lakes Australia (ARBN 127 740 532, ABN 18 964 580 576, AFSL 318603). This endorsement applies to the above policy wording from 1 May 2015.

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Business Interruption Explained – NIBA TV Video

Learn all about Business Interruption Insurance

Business Interruption is generally taken (or should be!) as section 2 of a Business Pack policy, right beside the Property/Fire Section.

The prime purpose of business interruption insurance is to make sure that the financial position of your business returns to where it was before the loss. Your insurer will assess your profits and turnover, and factor in industry variations and trends to gain an understanding of your potential loss after an insured event.

You need to have a property policy in place (Section 1 Property/Fire) in order to be eligible for business interruption insurance, and the damage incurred must be of the type that would be covered under that property policy.

Business interruption insurance also covers various other elements. For example, if you have suffered a major interruption to your business, you might find that you need to spend extra money to get back up and running. You might have additional rent or you might have to pay for temporary premises, or extra costs of employing additional staff to assist in the clean-up process.

These can also all be covered by business interruption insurance, under what is called additional increased cost of working. Often an insurer will advance such monies to minimise downtime, and to ensure your business returns to normal as speedily as possible.

Is it worth taking?  You better believe it. It is NOT an expensive section, and we would be happy to discuss further.  Please contact us for all Business Interruption requirements and enjoy the video below.



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Federal Budget 2015 – A Snapshot for Business

federal budget 2015

A Snapshot of the Budget Affecting Business


Small business

  • The company tax rate for incorporated businesses with annual turnover up to $2 million will fall by 1.5 percentage points to 28.5 per cent from 1 July, 2015. Unincorporated businesses such as sole traders and partnership structures with annual turnover up to $2 million will receive a 5 per cent tax discount, capped at $1000, through their year-end tax returns from 1 July, 2015. This will cost the Government $3.3 billion in the period to the end of the 2018-19 financial year.
  • A temporary measure will allow small businesses with turnover below $2 million to get an immediate tax deduction for every asset they acquire that is valued up to $20,000 for tax purposes – up from $1,000 previously. This will apply from Budget night until the end of June 2017 and cost $1.8 billion.
  • Capital gains tax rollover will be reformed to enable small business to change the legal structure of their business from the 2016-17 financial year without incurring capital gains tax. Rollover relief is currently available for individuals who incorporate but all other changes of entity type trigger a capital gains tax liability.
  • A fringe benefits tax (FBT) exemption will apply from 1 April, 2016 for all businesses with an aggregated annual turnover of less than $2 million that provide employees with more than one portable electronic device, even where the devices have substantially similar functions. Currently, an FBT exemption only applies to more than one device if the devices perform substantially different functions.
  • The Government will release a consultation paper later in 2015 on potential changes to the Corporations Act to reduce any unnecessary regulatory requirements for small business.


  • Start-ups will be able to immediately deduct professional expenses incurred when they begin a business, such as legal costs, rather than writing them off over five years. This will cost the Government $30 million.
  • The Government will provide $7.8 million over four years to the Australian Securities and Investments Commission to implement and monitor a regulatory framework to facilitate the use of crowd-sourced equity funding, including simplified reporting and disclosure requirements.
  • Tax concessions for employee share schemes announced in the Mid-Year Economic and Fiscal Outlook 2014-2015 will be expanded after consultations on the draft legislation identified minor technical changes that could be made.

Big business

  • The Government plans to work with business to develop a voluntary code for greater public disclosure of tax information by large companies.
  • A new tax avoidance law will be introduced in Part IVA of the Income Tax Assessment Act 1936 aimed at approximately 30 multinational companies with global revenue of $1 billion or more that artificially avoid having a taxable presence in Australia. It will apply from 1 January, 2016.
  • The Government will double the maximum administrative penalties that can be applied to companies with global revenue of $1 billion or more that enter into tax avoidance and profit shifting schemes. It will also implement the OECD’s new transfer pricing documentation standards from 1 July, 2016.
  • A retrospective cap of $100 million will apply to the amount of research and development expenditure for which companies can claim a tax offset at a concessional rate. Expenditure beyond the $100 million cap will receive a lower offset at the company tax rate. This measure will apply to assessments for income years commencing on or after 1 July, 2014.


  • Subject to the unanimous agreement of the States and Territories, GST will apply to digital products and services – for example, Netflix – from 1 July 2017. This will raise $350 million in the period to the end of the 2018-19 financial year.


  • The Government will establish a concessional loan facility of up to $5 billion for private sector investment in infrastructure such as ports, railways and pipelines in Northern Australia. The loan facility will be open for applications from 1 July 2015.

Families, childcare and pensioners

  • The Government is aiming to achieve savings of $967.7 million over four years by removing the ability of people to “double dip” to get paid parental leave from both the Government and their employers.
  • It is delivering a $4.4 billion Families Package, including $3.5 billion over five years on child care assistance, a new simplified Child Care Subsidy from July 2017, a $869 million Child Care Safety Net for disadvantaged children and $843 million for preschool programs.
  • Changes to the asset free areas for pensioners from January 2017 will allow 170,000 pensioners with modest assets to receive a full or increased pension, but an increase in the taper rate from $1.50 to $3 will mean those with substantial assets of up to $1.2 million who are currently on part pensions will receive a smaller pension or none at all.

Prepared by Pacific Finance Australia


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Dual launches new Corporate Travel Wording

dual australia

Dual Australia new Corporate Travel Wording now Live

Extra Benefits Include:

  • Age limit increased to 100 years
  • Unlimited Cancellation, Curtailment and Additional Expenses automatically included
  • Automatic cover under a Journey for private travel interstate and overseas for Company Directors, Chief Executive Officers, Chief Financial Officers/Controllers, General Managers, Senior Managers, and Company Secretaries of the insured including any accompanying spouse/partner and dependent children
  • No exclusion for financial collapse of an entity under Cancellation, Curtailment and Loss of Deposits
  • Death by specified sickness covered for $50,000 including heart attack, cardiac arrest, pulmonary embolism, stroke, malaria and dengue fever
  • Cover for loss of reward points included under Cancellation, Curtailment and Loss of Deposits
  • Mexico, Central and South America automatically covered under Kidnap and Ransom
  • Our Hire Car Excess section includes the cost of the return of a hire car and own car cover when on a journey

Please Contact Statewide for all your Corporate Travel Insurance Requirements.


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Steadfast Group in the News

A few recent press articles on the Steadfast Group…


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Perth Insurance Brokers Report – April 2015