Insight

The 2023/2024 Australian federal budget is a reflection of a number of risks in the economicclimate. These include persistently high inflation, the continuation of higher interest rates and stress in the global financial sector. The good news is unemployment is expected to remain low at 4.25% in the coming financial year. Additionally, a small surplus…

Across Australia, businesses of all shapes and sizes are turning to information communicationtechnology to automate repetitive tasks, reduce overheads and increase sales and profits. So is the insurance sector. Eighty percent of local insurers are using Insurtech – tools and technologies designed to make the insurance industry more efficient – according to the results of…

The rising inflation we’re experiencing now is affecting insurance in a number of ways. Materials commonly used to replace damaged properties, such as building items and even labour, are in short supply, driving up replacement costs. In these times, it’s important for small businesses to make sure the sum insured for their assets reflects their…

Understand the current strata insurance market landscape, how to achieve the best outcome for strata properties, and what’s on the horizon for 2023. The strata insurance market is in an interesting place. This update provides insight into the factors that have shaped the current market and a realistic outlook for strata insurance premiums. It delves…

The possibility of having cyber criminals make your personal details public is worrying enough, but did you know that criminals can also use this information to damage your business? “When a company’s security is compromised criminals often put the data they steal up for sale on the dark web, or what is called personal information…

This article addresses the ins and outs of flood cover, and whether your clients can include flood cover as part of their Strata Insurance. 1. How is flood defined In the past, different insurance companies all had their own definition of what constitutes ‘flood’ in their policy wordings. However, in 2012, the Insurance Council of…

Cyber risk continues to be a leading risk for Australian businesses in a post-pandemic world. As Australians continue to work remotely, relying heavily on digital platforms to interact and conduct business transactions – cybercriminals are taking advantage. Understand how you can mitigate the risk of cybercrime and minimise the damage inflicted by a cyber-attack. Why…

When it comes to payment, business insurance premiums can be an inconveniently large investment. This is particularly relevant in the current market, with widespread economic uncertainty and premium rates on the rise. Premium Funding payment solutions can help you maintain essential insurance coverage, while freeing up your business finances for other immediate investments that directly…

Understand the current Strata Insurance market landscape, how to achieve the best outcome for your strata property, and what’s on the horizon for 2022. Strata Insurance Market Overview The Strata Insurance market is experiencing considerable rate rises and cover availability is becoming increasingly restrictive. Major losses across the insurance industry, in particular the strata space,…

The devastating bushfires that tore through parts of VIC, NSW, SA and QLD in 2019 are a grave reminder that you don’t have to live in a rural area to be affected by fires. Bushfire preparation has never been more important as we enter another Australian summer. The National Council for Fire and Emergency Services…