Working From Home – The New Norm
What was once seen as a carrot to lure employees to a business, flexible working arrangements are now an expectation of employees. Last year Brokerwise considered the data protection implications for remote office workers. But there are so many more risks to be aware of. People are more relaxed at home, and not just in […]
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Contractors Vs Employees
A contractor is someone you engage to perform work or a task for you who is not an employee. Their engagement is often referred to as a contract for services. Features common to contractors are that the contractor can set a price, a contractor may be paid for an outcome, rather than an hourly rate, […]
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Construction Costs Have Recently Exploded
Construction costs have recently exploded, rising more than at any time since 2005. A surge in construction activity, supply chain disruptions and a shortage of materials has already been widely reported, but an alarming new twist has emerged with an Australia-wide shortage of labour. The number of people wanting to take up apprenticeships in trades […]
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Travel Insurance Now More Complex Than Ever
The coverage afforded under Travel Insurance has long been considered complex and often difficult to interpret. This is evidenced by the Australian Financial Complaints Authority’s (AFCA) reporting which consistently has Travel Insurance generating a disproportionately high number of disputes between Insureds and the insurance companies. The COVID-19 pandemic has affected us all in so many […]
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Plan for New Year insurance review
We’ve made it to the end of the year. Now is one of the best times to review your insurance and ensure that your cover is keeping up with the changes in the market and within your business. Many business owners tend to simply renew their policy before it expires. However, renewing your policy without […]
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Business Insurance over the festive season
With Christmas fast approaching, it is often the busiest and most stressful time of the year for many businesses. While we rejoice for the increase in customers and sales, the increase in activity can mean extra risk for your business. Now is the time to check in to ensure you have enough financial protection to […]
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La Niña likelihood increases
It is that time of the year again, La Niña event is imminent. La Niña brings an increase in rainfall which in turn increases the risks of flooding and water damage to properties. The bad news is that the chances of a flood-inducing La Niña system forming this year have risen, yet again. According to […]
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What is Volunteer Insurance?
Whether you run a charity, a not-for-profit, or regular live events, volunteer insurance exists to protect both you and the volunteers that work for you. From music festival ticket collectors to ongoing charity work, volunteers are often the most important part of your organisation, and they need to be protected from accidents. Volunteer Insurance will […]
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5 Remote Team Building Activities
Show and Tell Most of us probably remember Show and Tell from back in school. Basically, each person would get up and have exactly one minute to show and talk about something they own, something that is sentimental or just an item that they may have picked up over the weekend. This can also be […]
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Why do I need Professional Indemnity insurance?
Mistakes can happen. If your business is found liable for negligence, the costs can be financially devastating. Not only could you be subject to an expensive lawsuit, but your business’s hard-earned reputation may be damaged as a result. Professional Indemnity insurance is mandatory in some industries such as medicine, accounting, law, and financial advisers. However, […]
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The Future of Casual Employment
Changes have been made to the Fair Work Act 2009 which may impact how you employ and manage casual Employees and you have until 27 September 2021 to put new processes in place. The key changes have been summarised into the following areas: Changes to the definition of ‘Casual Employee’ What do I need to […]
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Internal Auditing
Given the steep rise in Employee fraud and embezzlement, the importance of Internal Business Auditing has never been more vital. Whilst there are Insurance Policies, such as Management Liability and Crime that provide Indemnity for some of the exposures the reputational damage, together with the disruption to business’ makes this continued process an important part […]
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Why is Management Liability insurance important for your business?
Conflicts arising from the workplace have become increasingly common, in particular with current market conditions affected by the global pandemic. SMEs are subject to legal action which can be financially devastating for both the business and its executives. The need for Management Liability insurance has grown in importance. Management liability insurance covers the costs of […]
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What Does Subrogation Mean for You?
You lodge a claim with your Insurer, you receive your payment, that is the end of it right? Sometimes yes. However occasionally, that is just the beginning. That is because your policy of insurance most likely gives your Insurer a right of Subrogation. So, what exactly is Subrogation and what does it mean for you? […]
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The Role of Your Broker During the Claims Process
In September 2020, Deloitte Access Economics released a report outlining the value provided by insurance Brokers. The report highlighted that those Brokers supporting Clients throughout the claims process can lead to better outcomes for Clients. This conclusion was expected for insurance practitioners who understand the role of a Broker in the claim process, which includes: […]
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