You Can Protect Your Business From Unfair Contracts The takeaways from our second bulletin include the following: the “unfair contract terms” legislation only applies to contracts that are both a “small business contract” and a “standard form contract”; a small business contract is one where the contract is for the supply of goods or services, […]
DATA REVEALS EXTENT OF RISING REPLACEMENT COSTS
A new report is highlighting the rising cost of replacing home contents after analysing figures from the past 10 years and comparing them to recent data. According to specialist research firm Sum Insured, it now costs almost $15,000 more to replace the contents of a typical home than it would have done in 2007. There […]
CHANGES TO CHAIN OF RESPONSIBILITY – OCTOBER 2018
Under new Chain of Responsibility laws, more parties to the heavy vehicle transport supply chain will have an increased duty of care. If you are involved in this industry, or engage companies involved in this industry, read on to see whether this applies to you. If you have any concerns or queries on this subject, […]
HUMAN-BASED CYBER DEFENCE
More information regarding human-based cyber defence is available at Human Element Security, and in the 2014 Cyber Security Intelligence Report published by IBM. If you would like to discuss Cyber Risk Management and insurance, please contact us. Large-scale studies such as IBM’s 2014 Cyber Security Intelligence Index reveal that 95% of all security breaches are […]
ALLIANZ ISSUES WARNING TO AUSTRALIANS TRAVELLING TO RUSSIA
A number of Australians are expected to head to Russia this June for one of the world’s top sporting events, the World Cup. But with political tensions in the eastern European nation, and the ongoing threat of terrorism, at an all-time high, Allianz Global Assistance (AGA) is advising travellers to take precautions to ensure a […]
WHO WILL WIN THE WORLD CUP? AN INSURANCE ACTUARY’S TAKE…
Who will win the World Cup? JLT Specialty shares its study If you’re wondering who’s likely to win World Cup 2018, then this study from insurance broker JLT Specialty has interesting insights for you. Citing new research from JLT, Actuarial Post reported the odds – Brazil, with a 17.89% chance to bag World Cup victory, […]
“WE STILL DON’T KNOW MUCH ABOUT THE FUTURE OF CYBER”
Another day, another cyberattack: just last week, two major Canadian banks – Bank of Montreal and Canadian Imperial Bank of Commerce – revealed that they had been contacted by cyberattackers claiming to have stolen the data of nearly 90,000 customers, in what was described as the first significant assault on financial institutions in the country. […]
CYBER-SECURITY SPEND SURGED IN 2017
It looks like the message is finally getting through after a recent survey found over half of Australian and New Zealand businesses increased their cyber security spend last year. A new report by Australia’s Cyber Emergency Response Team (AusCERT) showed that 58% of organisations across the region bumped up their spending in 2017. The […]
TESLA CAR INSURANCE IDEA EXPANDING OVERSEAS
Tesla’s foray into designing its own car insurance program is looking like a good idea, as the Tesla Model S was recently named the most expensive car to insure in the United States. According to data from the Insurance Institute for Highway Safety, the Model S cost an average of US$1,789.48 in annual insurance paid. […]
CYBER CRIME: CLIENTS ARE DREAMING IF THEY THINK IT WON’T HAP
A senior underwriter has urged brokers to further educate their clients on cyber risk, saying criminals are still having alarming success with traditional methodology. Speaking at a webinar earlier this week, Gerry Power – Emergence’s national head of sales – told the 1,100 attendees that hacking was involved in 48% of breaches, while malicious software […]
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