As of September last year, there were 251,000 short-term rentals registered across Australia, down from 400,000 pre-pandemic. However, not all short-term stays are registered. If you rent out your main residence, this article is for you. We’re sharing a swag of tips to help you manage your risks. Understanding property insurance To help protect your home from […]
Toolbox Talk: Time to Protect Tradies and Your Business
Did you hear about the Tradies’ National Health Month in August? It highlighted plenty of strategies and tips on this important topic to use year-round to protect the tradies in your midst and your business. Top risks tradies face St John Ambulance has a handy definition for tradies, saying they include technicians, trade workers, labourers, machinery operators, and […]
4 Myths about Cyber Insurance Debunked
Cyber security is a top risk management concern for Australian businesses, with eight in 10 organisations hit by ransomware. And research shows small businesses are likely to have poor security practices due to common misconceptions about the threat. It is such a hot issue that the Federal Government appointed the first Minister for Cyber Security in a G20 […]
Is This the Return of High-Rise Construction Insurance?
There is a deluge of legal and insurance claims from ownership’ corporations and individual apartment owners about high-rise construction defects. A UNSW City Futures Research Centre report found defects in 85% of apartments built since 2000. In the firing line are builders and contractors. Negotiating early and rectifying defects promptly, where possible, is a prudent approach to […]
Insurance Premiums for Farms Are Rising: How To Save
On average, farm cash income experienced a 7% drop in 2022-23, according to ABARES. So, when insurance premiums rise 20% to 40%, as is happening in some parts of Australia in recent times, farmers might think more carefully about their risk management approach. But before you hit ‘cancel’ on your insurance policies, check out these tips […]
How do you Manage these Top 4 Hospitality Business Risks?
The past three years have been a whirlwind for hospitality businesses. While the pandemic seems to be on the wane, your business should still do everything reasonably practicable to reduce the risks of COVID-19’s spread, like keeping up to date on employers’ responsibilities via this Safe Work Australia website. Other, more inherent risks remain, though. […]
“Ignore, delete and block”: Australians urged to be on alert
Australian regulators and agencies have warned Australian taxpayers to be extra vigilant during tax time this year and to be on alert for dodgy end-of-financial-year (EOFY) scams, with scammers likely to take advantage of Australians who are submitting tax returns or waiting for the outcome of an assessment. The Australian Communications and Media Authority (ACMA) […]
Australian drivers take risks to avoid wildlife collisions
Around half of Australians have collided with wildlife while driving, and 61% would resort to risky tactics to avoid hitting an animal, according to Suncorp Group (Suncorp) insurer AAMI’s latest research. The report analysed more than 17,000 AAMI animal collision claims across Australia between January 1 and December 31, 2022. It found that one in […]
Property risks warning: Don’t forget bushfires!
Australia could be going from “constant flooding to the real risk of bushfires,” says risk engineerProperty risks warning: Don’t forget bushfires! After last year’s incredible run of serious flooding, bushfire risk management plans may not be front and centre right now for insurance brokers and their customers’ properties. However, FM Global Australia’s Mike Hunneyball (pictured […]
Selling Yourself Short? Why You Should Avoid Underinsurance
Is your small business among the one in four that say they’ll go under if faced with a liability claim? That’s the alarming statistic from one insurer’s survey. More respondents said they would: .Lose clients .Expect less revenue .Have cash flow woes. At the crux is understanding the cost of and whether you would be […]
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