Insurers back national cladding probe after UK disaster Australian insurers are backing a national survey of buildings using flammable cladding in the wake of the devastating blaze that killed at least 58 people in London’s Grenfell Tower. Experts have warned the disaster could be replicated in Australia, and the Insurance Council of Australia (ICA) […]
A recent survey has revealed that 90% of Australian organisations have faced some sort of cybersecurity compromise during the 2015-16 financial year, highlighting the need for cyber insurance to avoid massive financial losses from a cyber attack. The survey by the Australian Cyber Security Centre (ACSC) polled 113 organisations, 90% of which claimed to have […]
Small business owners largely emerged as winners in the 2017 Federal Budget – with a number of new measures aimed at SMEs. On 9 May 2017, the Federal Budget was handed down – with the Government proposing some key incentives aimed at boosting small business in Australia. But, while most of the reforms set out […]
Insurance Forecasts for 2017 and beyond from Statewide Insurance Brokers
Virtual Reality (VR) could shape the future of general insurance says third party claims expert Peter Tomkins. “Traditionally, the biggest challenge insurers face is understanding risk. Modern technology has come a long way to address this need – insurers are now using car monitors to understand driving behaviour , and Fitbits to understand a client’s […]
Part 1 What won’t professional indemnity insurance cover? Each policy will have its own set of exclusions whereby the insurer will not be liable to pay compensation to the insured in the event that a claim is made. Some typical exclusions listed on professional indemnity policies include: Claims arising following cancellation of policy: It is […]
