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 […]
Businesses More Vulnerable to Extreme Weather Events
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 […]
Professional Advice And/Or Service – Which Is Which?
A Legal Discussion That Is Worth Reading Lior Maiser of LMI Legal kindly provided me with this synopsis of a recent court case addressing this topic. Lior writes:Liability policies, other than professional indemnity policies, frequently contain exclusions for liability arising from “professional advice or service”. The reasoning is that liability for professional services is, more […]
Tax cuts?
Insurance taxes: the latest shot in an interminable battle By rights, insurance-based taxes in Australia should be long gone. Review after review has labelled them inefficient and recommended their abolition – yet they remain in operation in most states and territories. A lack of political will and imagination about what should take their place has […]
More Cyber commentary
Some cyber data to consider We appreciate the proliferation of ‘cyber’ artcles that are saturating insurance publications of recent times. What this does tell consumers is that it is topical for a reason, and has been clearly identified as the peril all of us are exposed to like never before. Our team can help you […]
The name is Bond – Jane Bond!
Insurance Fraud in the UK A woman referred to by prosecutors as a ‘female James Bond’ who was acquitted of murdering her doctor boss’ model ex-girlfriend two years ago, has been arrested again, this time on charges of insurance fraud. Kelly Soo Park, 49, used to be the office assistant of orthopaedic surgeon Dr Munir […]
What insurance class is growing the fastest?
Cyber unsuprisingly leads the race A leading international brokerage has revealed that cyber insurance is its fastest growing global coverage as numbers in Australia continue to spike. The global powerhouse noted that while cyber is popular the world over, business in Australia is booming as the company is writing half as much cyber business as […]
Insurers biggest risks
What risks our industry fear Insurers have named cyber risk as the biggest risk they face in Australia, according to the latest research conducted by PricewaterhouseCoopers. The 2015 Insurance Banana Skins Survey asked 806 insurers from more than fifty countries what they saw as the biggest risks to the insurance industry and the 28 Australian […]
Understanding Business Interruption
Some Guidance on Business Interruption This is an article written by Dr Allan Manning, probably the foremost expert in respect to Business Inrterruption in Australia, its implications and benefits.We trust the read will be worthwhile and if it provokes any queries please contact the Austbroker Terrace team immediately. As follows – The first two months […]
The Cloud – 10 Things You Need To Know
Is the cloud safe? 10 things you need to know If we’re talking about the cloud, we have to talk about security. It seems that every time the cloud is brought up in the enterprise, the conversation to follow is focused on how secure, or not secure, it really is. Some would have you believe […]
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