Proportionate liability in Queensland – Implications for Insurance
What is proportionate liability? Proportionate liability refers to the concept that liability for a plaintiff’s loss should be apportioned to the defendants in accordance with the extent of their responsibility for that loss. Why was the proportionate liability scheme introduced? The Ipp report (named after chair David Ipp who handed down the report) was commissioned […]
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What am I responsible for as a business owner?
There are countless circumstances that may have a negative effect on your business, many of which are impossible to predict. The good news is that it is possible to prepare for any eventuality, thereby safeguarding your business from potential financial ruin. The best way to do this is with the right business insurance. However, as […]
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The importance of 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 & Crime, that provide Indemnity for some of the exposures; the reputational damage, together with the disruption to business’ makes Internal Business Auditing, an important part […]
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A Centuries Old Crime, Digitally Enhanced
Scams aimed at manipulating individuals for fraudulent purposes have been occurring for centuries, but this deception has now well and truly moved into the digital world. Social engineering, in the context of information security, refers to psychological manipulation of people into performing actions or divulging confidential information for the purpose of a broad spectrum of […]
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The insurance implications of working from home
Australians are increasingly working from home, with the most recent data from the Australian Bureau of Statistics indicating at least a third of us choose to work from home at least part of the time. A study by future trends research house McCrindle shows there are lots of different reasons why people work from home. In total, […]
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Underpaying employees… what’s going wrong?
We’ve all heard of the $7.8M underpayment scandal which recently engulfed celebrity chef George Colombaris, but is this just a symptom of the sheer complexity of workplace laws in Australia? After all, big organisations with dedicated HR departments are getting it wrong, so what chance does SMEs have of complying? Just to name a few, […]
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Telematics continues to evolve in insurance
Telematics technology has proven benefits when it comes to encouraging more responsible driving, with research indicating better driver behaviour is one of the main advantages in using this innovation. Black box or telematics technology is a way for businesses to collect data on how their employees are using company vehicles. Using telematics, businesses can collect […]
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Queensland Smoke Alarm Laws and you
Whether you are a home owner, a renter, a landlord or a renovator/builder, the smoke alarm legislation introduced by Queensland Fire and Emergency Services from 1 January 2017 will affect you! As a landlord…. Existing smoke alarms manufactured more than 10 years ago must be replaced with photoelectric smoke alarms which comply with Australian Standards […]
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All you need to know about Premium Funding
What is Premium Funding Almost all of the major insurance companies offer their retail clients monthly payment options. Whether it’s your car or your home, or even your life insurance, paying by the month is easy. But when it comes to business and commercial insurance, you will find that most insurance companies do not have […]
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Insurance issues arising in the gig economy
What is the gig economy? ‘Gig’ is a slang term referring to a ‘job for a specified period of time’ and harks back to when musicians were engaged for a performance or a ‘gig’. The gig economy refers to the growing trend towards freelance or contract workers, as well as the share economy of resources […]
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What you need to know about landlord insurance
If you’ve scrimped and saved in the hopes of achieving financial security through an investment property it makes sense to insure such a valuable asset. It’s no secret that Australians are among the most real-estate obsessed people in the world. Around two million Australians own an investment property. A disproportionate number of these people have […]
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Single Touch Payroll is here
The biggest change to payroll in history is here and compulsory for businesses with 19 or fewer employees. What is it? Single Touch payroll (STP) is an ATO compliance regulation which requires employers to send employee payroll information, including salary, wages, PAYG withholding and superannuation to the ATO at the same time as their standard […]
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Report highlights cyber risks’ magnitude
Human error is a key reason why data breaches occur. The Office of the Australian Information Commissioner’s (OAIC) first annual report on the notifiable data breaches (NDB) scheme shows it received 964 notifications from 1 April 2018 to 31 March 2019, a 712% increase on the previous voluntary scheme. While malicious or criminal attacks were […]
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How to minimise being underinsured
Many Australians, especially those who own businesses, discover they don’t have the cover they need in the worst possible circumstances. Insurance is one of those subjects that many people glaze over. So, just to test how knowledgeable you are about this important but unsexy topic, see how many of the following you can answer. Questions […]
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Why small businesses use an insurance broker
Small business owners tend to be born optimists with little inclination to think about what could go wrong. That’s why it pays to have an insurance broker in your corner to safeguard what you’ve worked for. Paul Harrison’s family-owned shoe shop in Sydney’s Neutral Bay has operated out of various locations for more than half a […]
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