Underinsurance is alive and well in Australia. A recent report from Swiss Re has highlighted major concerns surrounding large gaps in property insurance for Commercial and SME businesses in Australia. Did you know that the annual uninsured loss for businesses in Australia is nearly an astounding $5 billion? And that 1 in 8 businesses do…
Breaking News: China has been blamed for a ‘massive’ cyber attack on Bureau of Meteorology supercomputer. Yet another incident highlighting the critical nature of Cyber Insurance within your Business Insurance Program. It has today been reported by ABC News that a ‘massive’ cyber attack has occurred at the Australian Bureau of Meteorology. It is alleged…
Yet another Australian business has fallen victim to cybercrime, where the personal details of over 5000 customers were compromised. Hackers were found to have breached the systems at Aussie Farmers Direct, in an attempt to blackmail the business for money, before they released the private customer data online. Unfortunately this example isn’t an isolated incident,…
News outlets across the country have issued various reminders and warnings for Australians to be prepared for the upcoming bushfire season this summer. A strong El Nino weather pattern could see very dry conditions create a significantly increased fire risk. Below we provide some advice on how you can best prepare your property and make…
Research on distracted driving conducted in the US has uncovered some alarming statistics on common causes of distraction which in many cases can lead to road accidents. Below, we explore the main causes of driving distraction as outlined in the study, and the increased risk drivers face as a result. Prof. Allan Manning, LMI Group…
An Australian insurer has launched a direct insurance, lower cost offering for strata unit owners and body corporate committees in North Queensland. But, is this really going to be of any service to the Strata industry? On 30th April 2015, the National Insurance Brokers Association (NIBA) released a statement in response to this new offering,…
Storms in NSW have now been declared a catastrophe for insurance purposes. The Insurance Council of Australia (ICA) has declared the recent storms in NSW a catastrophe event. The regions affected in particular include – Central Coast, Hunter, Greater Sydney Metropolitan and Illawara regions, all suffering widespread damage. Now declared a catastrophe, insurers are harnessing…
Holiday season is a time to pack up and get away for some much needed R and R, however it would appear many of us are not doing all we can to protect our homes from unwelcome intruders whilst we are away. According to an article published in the Herald Sun, “Superintendent Tim Hansen said…
An unexpected life event could just be your undoing. “The average woman in Australia is only 92 days away from financial ruin. For men, that period is an ever-so-slightly more comforting buffer of 120 days.” according to an article published by news.com.au on November 20, 2014. Statistics like this are alarming and should make us…
On Friday 18th July, the winners of the 2014 Whitbread Strata Community Awards were announced at a Gala Awards ceremony hosted by Larry Emdur in Sydney. From a field of 65 candidates, there were nine winners announced, plus those awarded Highly Commended. Winners of 2014 Awards Program Innovation of the Year – Megasealed Strata Owners…
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