The manufacturing industry, anywhere in the world, is critical to keeping the economy moving. The sector is also one of the most technical, involving a wide range of moving parts including logistical, mechanical and labour resources. It is important that cover is tailored to each business.
The insurance landscape can be complicated and there is a range of industry-specific terms that are use. Here is a guide to the most common ones.
If you have an insurance policy, you’re helping to protect yourself against financial or business loss in the event of an incident. If an event occurs, you’d lodge a claim with your insurer. But how does that process work?
By 2020, it is expected that the commercial drone industry will be worth more than US$10.8 billion, according to Statistica. It clearly has a bright future as a medium, and its uses are still coming to light. But how do you protect your drone, and yourself in the case of accidents?
A proliferation of search aggregators — sites that take your request and push it through a panel of service providers so you don’t have to obtain quotes individually — has also changed the online shopping experience for consumers. If you’re purchasing something like a flight, or a physical item, then it’s the most efficient way to go. With insurance on the other hand, it presents clear risks.
As the world becomes increasingly enabled through technology and continual connection, businesses — both large and small — must take precautions against being compromised through online platforms.
Businesses that partner with a risk adviser have a better chance of maximising the payment from a claim than consumers who buy direct.
Research from the Australian Government shows that travel insurance is a popular holiday investment, but there are considerable gaps in knowledge about what customers are actually covered for.
Protecting against risk is essential for any business, and identifying and understanding less obvious exposures can help a business prepare and be best protected, should the worst happen.
If you’re a business owner or decision-maker, using an insurance broker to regularly review all of your business insurance policies to see where you might be at most risk could be highly beneficial for your business.
Austbrokers is the home of the broking industry’s rising stars under the age of 35 with not one but two finalists in the National Insurance Brokers Association’s (NIBA) NSW/ACT Young Professional Broker of the Year Award.
On Friday the 4th of May, more than 600 insurance professionals, including brokers, authorised representatives, insurers and underwriters gathered at The Westin Sydney for the Insurance Business Awards.
Australian businesses that fail to disclose certain types of data breaches can be fined up to $2.1 million and may be subject to a class-action lawsuit from affected customers. How prepared is your organisation?
Austbrokers has partnered with CoreLogic to give brokers real-time data for their clients. Partners will be able to access Cordell Commercial Estimator, Cordell Sum Sure, and RP Data Professional. The addition of these new tools will continue to enhance the Austbrokers partners by providing clients with accurate estimates for the replacement costs of commercial and residential properties.
When it comes to insurance, everyone wants the same thing: the best possible cover for the most competitive price. Find out why going through an insurance broker is the best way to approach your insurance.
We're no stranger to severe storms, droughts, floods, cyclones and hailstorms and the number of people incorrectly covered or not at all is alarming. Austbrokers can protect you now for when the worst happens. Let one of our experienced brokers assist you to get the coverage you need for extreme weather.
Your personal income is provided by your business, but if your business isn’t earning any income then neither are you. Have you thought about what happens if, through no fault of your own, you can’t trade for a day, a week, or longer?
So your business has suffered an unfortunate incident. But it’s alright because you have insurance, right?