The Reject Shop ordered to pay $140,000 penalty
Busy February for Insurers & BrokersThe 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 that includes protection for statutory fines.
Whilst The Reject Shop co-operated with Consumer Affairs Victoria, withdrew the products from sale, and issued a recall notice, the size of the Federal Court penalty is an important reminder on having the right insurance in place to protect the cashflow of your business, as well as access to expert legal advice.
The ACCC has issued mandatory product Safety Guides across many categories, which can be referenced here.
https://www.productsafety.gov.au/product-safety-laws/safety-standards-bans/mandatory-standards
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Busy February for Insurers & BrokersBy purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with COVERMORE by calling 1300 728 822.
• If you need to make changes to the policy, you will need to contact COVERMORE on 1300 728 822.
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with CHUBB by calling 1800 803 548.
• If you need to make changes to the policy, you will need to contact CHUBB on 1800 803 548..
By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with EMERGENCE by calling 1300 799 562.
• If you need to make changes to the policy, you will need to contact EMERGENCE on 1300 799 562
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By purchasing online:
• You are expected to self-manage your policy.
• There is no advice provided by Austbrokers Countrywide.
• You will need to manage your own claims directly with Austbrokers Life Solutions by calling 1300 161 635.
• If you need to make changes to the policy, you will need to contact Austbrokers Life Solutions on 1300 161 635.