Malicious malware, such as NotPetya, and nation-state hacking have cast a dark shadow over the cyber insurance landscape, and while the threats are real, that’s just the top of the pyramid of what’s driving cyber claims. CFC Underwriting’s chief innovation officer can count on one hand the number of claims that the insurance company has […]
BATMAN MAY HAVE TO HANG UP HIS CAPE… BECAUSE OF INSURANCE IS
Batman has finally been foiled – not by a supervillain, but by mounting insurance costs. Ben Affleck, who stars as the Dark Knight in Warner Bros/DC’s recent series of superhero films, entered rehab for alcohol addiction for the third time last week. But by doing so, he may have inadvertently increased the price to insure […]
INSURANCE AND GST : SOME BENEFITS FOR YOUR SMALL BUSINESS
Good news! When you own your own small business and you have some types of insurance in place for assets in that small business, you may be able to claim some GST credits. Let’s investigate. So, what’s the deal?Basically, if you own a small business and you are registered for GST, you may not have […]
WHAT TO DO IF YOU’RE NOT HAPPY WITH YOUR CLAIM
Since the initial publishing of this article, the Financial Ombudsman Service has been replaced with the Australian Financial Complaints Authority; please click here for more information. Austbrokers Terrace is here to represent all of its clients, and is a ‘first port of call’ for claims disputes. As a side-note to this article — using an […]
5 TIPS TO SPOT A FAKE WEBSITE
As technology improves and our reliance on it increases, so too does the ability of scammers to con us out of paying for items that will never arrive. Fake websites that take your money while harvesting your credit card and bank details are everywhere these days and are cleverly designed to look genuine and convincing, […]
NDB SCHEME DRIVING CYBER INSURANCE TAKE-UP
CFC Underwriting has revealed it has seen 107% growth in new cyber insurance business in Australia over the past year. According to the specialist firm, the introduction of the Notifiable Data Breaches (NDB) scheme was the key driver in the take-up. “We attribute much of this growth to awareness of the impending legislation surrounding notification, […]
COUNTING THE REAL COST OF CYBER ATTACKS
Cyber attacks are costing large Australian enterprises an average of $8.3 million a year, but the real costs could be much higher. In a study sponsored by HP Enterprise Security, the US-based Ponemon Institute questioned 30 large Australian organisations on their experience with cyber attacks over a four-week period and extrapolated its findings to a […]
RUNNING A BUSINESS FROM HOME: ARE YOU COVERED?
Running your small business from home can be a thing of beauty. You could be reading this article while adorned in your PJs while the rest of us suffer in work attire that is not really as comfy as those salespeople tell us they are. It’s also likely you have a flexible schedule and don’t […]
BROKERS NEEDED “MORE THAN EVER” BEFORE
A financial services veteran has issued some soothing words to brokers this week, saying the profession remains of critical importance despite rapid and sometimes worrying changes. “This is a fantastic industry and the role of a broker is still needed today, more so than ever,” says Clifton Warren, principal of Corporate Eye Consulting. “We have […]
KANGAROO COLLISIONS ON THE UP
They may be Australia’s national animal but it seems the much-loved kangaroo could be causing a headache for insurers after reports indicated a sharp increase in the number of ‘roo-related car crashes. Smash repairers in Australia’s south-east told ABC News that they’ve seen a dramatic jump in the number of cars colliding with kangaroos, with […]
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