Insurance News

Finalist 2022 Australian Insurance Industry Awards

Austbrokers Countrywide recognized as an Industry finalist for Broker of the year 2022. People Development and Education continues to drive Austbrokers Countrywide, and part of the recognition as a Finalist is the great work we have done and continue to deliver with our People

What to do when you return to your property after flood

Safety is the priority - don't do anything that puts anyone at risk. Only return to your property when emergency services give the go ahead. Contact your insurance company as soon as possible to lodge a claim and seek guidance on the claims process.

Information required to lodge a COVID-19 Business Interruption Claim

Businesses can lodge a business interruption (BI) claim at any time. Here's a general outline of the documents and information required by Insurers to consider and assess the claim.

Australian Cyber Security Centre report 2020/21

67,500 cybercrime reports in 2020-2021, which is 1 every 8 minutes The ACSC Annual Cyber Threat Report 2020–21 provides substantial and scary insights into the level of cyber crime and the vulnerabilities faced by Australians. 

Celebrating our colleague’s achievements!

Congratulation to Mark O'Reilly as a finalist in the NIBA Victorian/Tasmanian Broker of the Year awards for 2021.

Good news regarding Professional Indemnity cover

We are excited to announce a new Professional Indemnity cover with a no cladding exclusion available now

Top 10 Cyber security questions to ask yourself.

Handy tips on ensuring your business is protected against cyber attacks

ASD Essential 8 – the minimum level of cyber security that you need to know and adhere to.

ASD stands for The Australian Signals Directorate, and they provide a guide for 8 pillars of security to consider as a base level for businesses to adhere to.

6 Ways to Protect Yourself From Hackers

Did you know that connecting to public Wi-Fi could make your personal information available to hackers? This and more advice to avoid being hacked.

VERO Business Recovery Grant – Winners

To prepare for and eventually undertake your business recovery (once declared possible by the Government), refer here for risk mitigation strategies for shutting down machinery safely and carefully.

What to consider when shutting down Your Equipment during COVID-19

To prepare for and eventually undertake your business recovery (once declared possible by the Government), refer here for risk mitigation strategies for shutting down machinery safely and carefully.
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Are you prepared for a tax audit?

Here at Austbrokers Countrywide we offer a range of products that will ensure you aren’t left with an audit bill of thousands of dollars.

I sell Products – Should I continue buying Liability insurance?

If you sell a product, you will have a long term exposure to the potential of injury or damage resulting from the use and operation of your product. FIND OUT MORE

What happens if I cancel my Professional Indemnity cover? Can I do without it?

Professional Indemnity is not like car insurance. It works on a “claims made” basis and you must have insurance in place at the time a claim is made against you. FIND OUT MORE

Advice on how to mitigate your insurance costs and stay protected

In these difficult times it is important that you maintain insurance protection for your assets. there are options available to assist in maintaining your insurance protection.

Insurance FAQ’s and Information relating to COVID-19

Important Covid-19 insurance information for: Business Interruption / Loss of Rental Insurance, Public Liability Insurance, Property Insurance, Landlords Insurance, Corporate Travel Insurance, Workers’ Compensation Insurance

Guidance on protecting your work premises during temporary closures

Due to the coronavirus restrictions, many businesses are having to temporarily close. If your businesses is having to temporarily close, here's some useful advice about how to protect your premises during any temporary closures.

Landlords Insurance – Am I covered if my tenant stops paying rent?

Important Covid-19 insurance information for Landlords regarding cover when tenant stops paying rent. Landlords insurance has optional coverage for Loss of Rental and for Rent Default. Find out more.

Protecting yourself from COVID-19 scams

COVID-19 is being used as a phishing lure by cybercriminals. Trusted brands are used to build credibility & entice users into opening attachments. Here's 5 TIPS on protecting yourself from COVID-19 scams

Victorian Building Authority: Professional Indemnity Requirements for Building Surveyors

It was inevitable but the VBA has now moved to permit Victorian Building Surveyors to maintain their registration and carry Professional Indemnity insurance that includes external wall cladding exclusions as gazetted today.
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Cyber risks – Brute Force Attack, Ransomware & Business Interruption

One of the biggest areas effected with cyber threats is the cost associated with the interruption to the business (not able to trade), and the most common cause is Human Error. Read this real life example.

Treadmill Challenge raises $14,600! for Make-A-Wish Australia

We are so happy to announce that we our Treadmill Challenge raised an amazing $14,600 for Make A Wish Australia.
Thank-you to everyone who participated. We covered 295 kilometres, this equates to the distance from our head office in Scoresby to Yarrawonga!!

$85,000 raised at the A1 Office Gala Charity Event

A1 Office Gala Ball charity event seeking to raise funds for Kids Under Cover was a huge success with $85,000 raised on the night.

Could a scientist solve your problem?

$10k grant to utilise the Melbourne Synchrotron.
South East Melbourne Innovation Partnership (SEMIP) is proud to bring you Pitch for Beam Time pitch night on 31st October 6pm at the Eastern Innovation Business Centre.The Prize: The winner will receive $10,000 worth of Beam time at the Australian Synchrotron in Clayton.

Family Ski Adventure – Austbrokers to the rescue!

A real life example of how our claims team helped turn a family’s holiday ordeal into a happy outcome by obtaining an additional payment of $15,700 from the insurer.
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What professional indemnity insurance limit is adequate?

What is an adequate Professional Indemnity Insurance limit? This is not an exact science with an applicable formula and the answer can be different for everyone, but here are 5 key issues that should be considered when determining an adequate indemnity limit.

Make-A-Wish gets the big cheque

Within our first year of partnership with Make-A-Wish Australia , through 3 very successful events, we raised an incredible $41,956. Far exceeding our original target of $30,000. We would like to thank our staff for all their hard work, and just as importantly all our corporate friends that kindly contributed. Read all about it....
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Fraud – protecting your customers

10 Simple things that can be done to prevent fraud. Fraud can take many guises – corruption, concealing assets, fake accounts, and payments to fake companies and people, just to name a few.
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Your rights & responsibilities in notifying a PI Insurance claim

Professional Indemnity Insurance provided on a ‘Claims Made’ basis mean you have certain responsibilities to notify circumstances throughout the policy period. Whether they eventuate or not, it is important to notify all potential circumstances to your Insurer during the current period in order that cover is afforded.

Are your contractors really employees?

If you're unsure you may be in danger of fines up to $630,000 for company’s and $126,000 for directors. Read our simple checklist to see if you are employing, and you do not meet the criteria of engaging a subcontractor.

Limited Events Cover v Accidental Damage

The purpose of insurance is to provide protection when you need it most, yet the selection of the insurance protection is often chosen on price, not the quality of the protection. The challenge with a Limited Events insurance coverage (sometimes referred to as Defined Events) is that the insurance only responds to the listed events, so many exposures remain uninsured.  This often can be discovered too late, leaving you financially exposed.

Do you Need Product Recall Insurance?

A key financial risk is the exposure to a product recall caused by contamination, mislabelling, or malicious activity. Insurance can respond to the event (the defect) that triggers the need to repair / replace, which is often referred to as a Contaminated Product or Product Recall insurance policy.
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The Point of Professional Indemnity – why bother?

If you are offering advice within your profession and a loss is suffered by the third party, you may be held liable Often the value in a Professional Indemnity policy is the defence costs. Without insurance protection you may be putting your personal assets at risk.
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ACCC ‘Targeting Scams’ report highlights increased risk of being scammed.

Last week the ACCC released its ninth annual 'Targeting scams' report. Providing great insight into the scale of losses and trends around the different types of scams. With a 13% increase from last year. - $340M in combined financial losses.

The 6 Biggest Mistakes Businesses make

Common mistakes businesses make when assessing business risks and making insurance decisions.

You get what you pay for – Complimentary Travel Insurance

When it comes to Travel Insurance we were reminded of the key principle ‘you get what you pay for’, with insurance having very little to do with price and all about the protection it offers.

Operator Error Can Destroy Your Business

Read the top 8 common vulnerabilities that lead to potential catastrophic exposures for businesses due to operator error. Roughly two thirds of commercial property losses are at least partly to blame on human error.

Fines & Penalties Insurance – A must have for business

Recently The Federal Government announced significant financial penalties for breaches of the Corporations laws and financial misconduct. FIND OUT MORE

Trading through Uncertainty – Surviving Business Interruptions

Could your business survive a major weather event, or fire, or a power cut? Receiving income when a major interruption occurs is a cornerstone of insurance protection, yet only 17% of small business owners purchase Business Interruption insurance.

$41,809.99 Raised for Make-A-Wish

In just 10 months we have raised $41, 809.99 for our chosen charity Make-A-Wish® Australia. After setting a goal of $30,000 for the 2017-18 financial year we’re thrilled to have well and truly exceeded this amount.
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3 Factual Cyber Crime Claims

Don't think you have any cyber exposures. Here's 3 cyber claims that will surprise you!

Top 5 Equipment Breakdown Insurance needs

Our top five considerations for ensuring your equipment breakdown risks are matched with your insurance needs
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Identity Fraud on the Rise

Standard Employee Fidelity / Crime insurance does not cover the loss caused by Identity Fraud. Find out more.

‘Spear Phishing’ attacks on the increase

Spear phishing is an increasingly common way to attempt to defraud businesses and individuals and the likelihood of an attack is only going to increase.

Top 10 Business Risks

Allianz have released their 2018 Risk Barometer Report, and it is no surprise that the risk of Cyber incidents sits at the top of the list.

Product Safety is a Key Issue

Product Safety is a key issue for every manufacturer and retailer. Learn from other recalls to help improve your own products and reduce the risk of a costly mistake.

Mandatory Data Breach Update

More than 30 data breaches have been reported since new laws were put in place. Watch this brief video to make sure you are aware of what you need to do with managing data risks.

Busy February for Insurers & Brokers

The Insurance industry has had a busy month, with insurers and brokers continuing to help people when they are at their most vulnerable.

The Reject Shop ordered to pay $140,000 penalty

The recent example of The Reject Shop being ordered to pay a penalty of $140,000 highlights the need for awareness in labelling of products, and also the vital importance of having a Management Liability coverage.

Cargo Damage in Maersk Honam Fire

On Tuesday 6th of March Maersk Line container vessel Maersk Honam reported an explosion and subsequent fire in one of its cargo holds.

Health Service providers and data breaches – How Cyber Insurance can benefit you

You may feel you can manage the potential business and crime risk to your organisation of a cyber related incident, but have you contemplated the risk if you don’t comply with new legislation?

Wax for a Wish Video

A little pain can go a long way in making wishes come true. Watch a short video of how our staff went above and beyond to raise over $12,000 for Make-A-Wish
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Liability for failure to display pool signs prohibiting diving & pool depth

Whether failure to display signs prohibiting diving or warning of the depth of a motel pool caused the catastrophic injuries of a child The Issue The content of the duty of care owed by an occupier to pool users Whether the plaintiff had contributed to her injuries