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.
https://abcountrywide.com/wp-content/uploads/2019/07/vba-logo.png310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2019-07-15 14:22:322019-10-01 15:18:07Victorian Building Authority: Professional Indemnity Requirements for Building Surveyors
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.
https://abcountrywide.com/wp-content/uploads/2019/05/CYBERRISKS.png310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2019-05-14 15:03:192019-05-21 10:59:03Cyber risks - Brute Force Attack, Ransomware & Business Interruption
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!!
https://abcountrywide.com/wp-content/uploads/2018/12/TREADMILL-WEB.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-12-07 11:59:532018-12-11 11:28:39Treadmill Challenge raises $14,600! for Make-A-Wish Australia
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.
https://abcountrywide.com/wp-content/uploads/2018/11/kids-under-cover.jpg279450Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-11-01 15:24:372018-11-01 15:50:00$85,000 raised at the A1 Office Gala Charity Event
$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.
https://abcountrywide.com/wp-content/uploads/2018/10/scientist.png310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-10-19 10:31:112018-10-19 10:42:22Could a scientist solve your problem?
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.
https://abcountrywide.com/wp-content/uploads/2018/09/CLAIMS-STORY.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-09-19 15:08:542018-09-25 10:37:29Family Ski Adventure - Austbrokers to the rescue!
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.
https://abcountrywide.com/wp-content/uploads/2018/08/piinsurance.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-08-23 14:54:122018-08-28 09:05:26What professional indemnity insurance limit is adequate?
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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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.
https://abcountrywide.com/wp-content/uploads/2018/08/piclaims.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-08-16 11:13:372018-08-20 15:44:15Your rights & responsibilities in notifying a PI Insurance claim
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.
https://abcountrywide.com/wp-content/uploads/2018/08/EMPLOYEE-1.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-08-07 14:10:132018-08-07 14:46:59Are your contractors really employees?
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.
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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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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.
https://abcountrywide.com/wp-content/uploads/2018/07/pi-insurance.png310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-07-02 12:16:172018-08-20 15:44:56The Point of Professional Indemnity – why bother?
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.
https://abcountrywide.com/wp-content/uploads/2018/06/scamcover.png310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-06-25 09:18:532018-08-20 15:29:13ACCC 'Targeting Scams' report highlights increased risk of being scammed.
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.
https://abcountrywide.com/wp-content/uploads/2018/06/you-get-what-you-pay-for.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-06-04 12:44:042018-06-04 12:46:24You get what you pay for - Complimentary Travel Insurance
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.
https://abcountrywide.com/wp-content/uploads/2018/05/OPERATOR-ERROR.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-05-29 10:18:232018-05-29 10:48:46Operator Error Can Destroy Your Business
Recently The Federal Government announced significant financial penalties for breaches of the Corporations laws and financial misconduct. FIND OUT MORE
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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.
https://abcountrywide.com/wp-content/uploads/2018/05/SURVIVING-BUSINESS-INTERUPTIONS-1.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-05-14 12:24:062018-05-22 12:59:54Trading through Uncertainty - Surviving Business Interruptions
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.
https://abcountrywide.com/wp-content/uploads/2018/05/makeawish-41810.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-05-07 11:41:002018-11-01 16:10:37$41,809.99 Raised for Make-A-Wish
Standard Employee Fidelity / Crime insurance does not cover the loss caused by Identity Fraud. Find out more.
https://abcountrywide.com/wp-content/uploads/2018/04/fraud.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-04-14 00:20:362018-08-20 15:30:43Identity Fraud on the Rise
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.
https://abcountrywide.com/wp-content/uploads/2018/04/phising-attack.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-04-11 12:28:132019-09-09 09:22:28'Spear Phishing' attacks on the increase
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.
https://abcountrywide.com/wp-content/uploads/2018/04/recalls.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-04-04 10:47:162018-04-11 12:35:41Product Safety is a Key Issue
The Insurance industry has had a busy month, with insurers and brokers continuing to help people when they are at their most vulnerable.
https://abcountrywide.com/wp-content/uploads/2018/03/fire-damage.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-03-27 14:24:322018-04-11 12:38:15Busy February for Insurers & Brokers
A great video circulated by our friends at FM Global that highlights simple solutions to better protect you and your business.
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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.
https://abcountrywide.com/wp-content/uploads/2018/03/therejectshopproductlabelling.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-03-13 15:18:252018-03-13 15:43:15The Reject Shop ordered to pay $140,000 penalty
On Tuesday 6th of March Maersk Line container vessel Maersk Honam reported an explosion and subsequent fire in one of its cargo holds.
https://abcountrywide.com/wp-content/uploads/2018/03/cargo-fire.jpg310500Evanhttps://abcountrywide.com/wp-content/uploads/2017/01/austbrokers-countrywide-logo-2.pngEvan2018-03-04 15:38:272018-03-13 15:43:22Cargo Damage in Maersk Honam Fire