The Ferrari and the rich kid Despite having 15 luxury cars already in his possession, the son of a Swiss multi-millionaire was so intent on upgrading his collection he devised a scam to claim another model on his insurance. The unnamed 20-year-old, who was said to have become bored with his Ferrari 458 Italia, (similar […]
A UK Perspective on Cyber Crime
Murphy’s Law may not be enough Everyone agrees data breaches and cyber attacks are on the increase, and that the size of potential losses is vast. Why then is take-up of cyber insurance still so low?The Association of British Insurers says despite 90% of large UK businesses suffering a breach in the past year, only […]
Hird sues but will he strike out yet again?
A lack of sound advice or naivety? The following article is an excellent example of how what is covered under an insurance contract can be easily misinterpreted or misunderstood. We at Austbrokers Terrace are not arrogant enough to suggest we would have provided a more informed process in this instance, but this should at least […]
Remote control car – Cyber style!
Another unbelievable cyber tale A cyber breach that allows hackers to take control of a moving vehicle has been demonstrated in an alarming new investigation. Conducted by tech magazine Wired.com, the shocking footage shows the moment a car travelling on a busy freeway is high-jacked by hackers who remotely access the vehicle via its on-board […]
Bird Brain
A difficult fight to win! Insurers have had to step in after a particularly plucky peacock caused over $6000 dollars’ worth of damage to cars by attacking his own reflection. Percy the peacock has been causing havoc at a countryside visitor attraction in the United Kingdom by getting a little too riled up during breeding […]
Horse SA and ABT
Forging partnerships Austbrokers Terrace pride themselves on forging relationships with organisations that could have a financial benefit for both parties. Horse SA is another of our clients that we have entered into such an agreement. How does this work? Simply, if you are a member of Horse SA and our company are successful in securing […]
How long should a business retain records?
Document Retention Ask a business owner how long you should retain your documents, and the answer is likely to be that documents must be kept for a period of seven years after the date on which they were created. This wisdom appears to come from various company law requirements which provide that a company’s financial […]
Fax or Fiction?
Does your business still need a fax machine? If you had to match specific decades with their most characteristic sounds, you might pair the 1960s with The Beatles, the 1970s with Led Zeppelin, and the 1980s with a peculiar electronic drone: the once-ubiquitous hum of the fax machine. When it came to transferring paper documents, […]
Legislation and Cyber Insurance
A Cyber game changer? Cyber insurance is a hot topic right now and shows no signs of dropping from insurance based conversation. While as an industry, and more specifically as a brokerage, we believe it is an insurance neccessity, the public are not quite ready to pay premiums for covers they may not understand. A cyber […]
A potential belly ache
Food for thought In NSW, restaurant kitchen indiscretions are plastered on a public website for all to see. In Victoria, council officers have the power to shut down hygienic premises. In Queensland, food suppliers that fall afoul of regulations can be fined more than $75,000.These are just some of the risks faced by any business […]
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