AAMI’s claims data reveals the top 6 claims for small businesses in the beauty industry such as beauticians, hairdressers and nail technicians are: 1. Fire and storm damage 2. Glass 3. Theft 4. Money 5.Back in Business 6. Public Liability See PDF here. Source: Business Insurance Hub/AAMI  

Civil aircraft manufacturer Airbus Group is hit by up to 12 major systems attacks each year, its chief information security officer has revealed, mostly through ransomware and state-sponsored hackers. According to Stephane Lenco, from Airbus, defence is particularly difficult against state-sponsored cyber attackers who “will try everything” to break in, and if successful, “will go after […]

The release of Verizon’s 2016 Data Breach Investigations Report (DBIR) underlines the need for businesses to have robust cyber coverage and for brokers to have conversations with their corporate clients about cyber security, says a top cyber and financial institutions specialist. A cyber policy can provide everything from cover for fines, investigations costs, IT forensic […]

Australians lost more than $229 million to scams last year, according to the competition watchdog. The Australian Competition and Consumer Commission’s today revealed it received around 105,000 scam complaints in 2015, totalling $85 million in lost money. Sole traders and small business owners need to be very careful when giving out credit card or website […]

A drought insurance product, based on one created for Kenyan farmers, is being developed for the Australian market. The Swiss-based CelciusPro, which has an offshoot in Australia, launched a pasture drought insurance program last October developed in conjunction with the World Bank, Kenyan government and International Livestock Research Institute. Read more here. Source: Insurance Business […]

Online cons can cost you both time and money. Take a look at three common scams, and tips to stay safe online. Online Dating Scams Phishing Scams Ransomware Scams Read about these in more detail here. Source: NBNCo

A highly advanced scam was circulating recently, which purported to be from Australia Post. Scammers were scraping data from social media that allows them to personalise fraudulent emails and trap would-be victims in to opening an attachment. Read more here. Source: ABC News.

Former Essendon coach James Hird has been left with a $700,000 legal bill after his failed attempt to have the club’s insurer (Chubb) pay his for his unsuccessful challenge against the Australian Sports Anti-Doping Authority (ASADA). Hird may also have to cover Chubb’s legal costs for defending itself against his lawsuit. Chubb Insurance asserted it […]

A year on from the Anzac Day hailstorm that decimated parts of Sydney, business owners are being warned of the risks of more extreme weather events. The risk of winter storms is equally applicable to businesses as it is to homeowners. According to Understand Insurance spokesman Campbell Fuller, “Severe storms don’t distinguish between homes and […]