Insurance

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How to minimise being underinsured

Many Australians, especially those who own businesses, discover they don’t have the cover they need in the worst possible circumstances. Insurance is one of those subjects that many people glaze over. So, just to test how knowledgeable you are about this important but unsexy topic, see how many of the following you can answer. Questions What type of insurance can provide cover if a natural disaster results in my business having to shut down for a period of time? What type of insurance can

rades and services insurance packs

Trades and services insurance basics

Trades and services insurance If your small business operates within the trades and services industry, it may be worth considering a trades and services pack where your insurance needs are concerned. These packs are typically designed for smaller businesses with a lower number of employees and a smaller annual turnover. So, what does a trades and services pack cover, and what industries is it best suited to? Read on for more details. Which trades and services is it most relevant to? The kinds of

Defined Event Insurance Policy

Defined events vs Accidental damage Policy

  Most insurers in Australia provide a choice of cover for buildings and contents insurances: defined events, or accidental damage. When you are looking to buy House, home and content or Landlord Insurance what is the main difference between these options is the way they approach the concept of insured events: one works by stating what it does cover whereas the other operates by stating what it does not cover. Defined events There are several terms used to describe these types of

Emerald Flood 2010

Does All Business Insurance Cover Flood?

Some business insurance claims in Australia has been the result of 1 in a 100-year flood, leaving many many businesses unaware and unprepared for the loss Does all business insurance cover flood? Does all business insurance cover flood? No according to Steve Sloan insurance broker with Insure 247? “Business insurance policies that cover property loss or damage can be altered to include flood insurance and the loss of income as a result of a flooding event, however, each policy and insurer have

Fence Safety Inspecting

Professional Indemnity For Swimming Pool Barrier and Fence Safety Inspecting and Certifying

Quotesonline can now arrange quotes for Professional Indemnity Insurance for Swimming Pool Barrier and Fence Safety Inspecting and Certifying. In response to regulations requiring Swimming Pool Barrier and Fence Safety Inspecting and Certifying businesses to have Professional Indemnity insurance, the team at Quotesonline can now arrange quotes through Solution, we are very pleased to announce that we have made this occupation available to quote. What is Professional Indemnity Insurance? Put simply, this is insurance that covers people against claims resulting from

Business Insurance Quotes

Insurance and GST: some benefits for your small business

Making the most of your insurance financially 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 to pay GST on insurance premiums if the insurance has been purchased to cover an asset that is either

Insurer IAG Announces 1st Half Results

  IAG has reported a 1H16 insurance profit of $610 million (1H15:$693 million) and an insurance margin of 14.9% (1H15:13.4%), representing a sound result despite challenging conditions in its core Australian and New Zealand commercial markets. Key financial indicators are: Insurance profit $610 million (1H15:$693 million) Reported insurance margin 14.9% (1H15:13.4%) Underlying insurance margin1 14.2% (1H15:13.3%) including a Berkshire Hathaway quota share positive effect of approximately 250 basis points (bps) Gross written premium (GWP) $5.5 billion (1H15:$5.6 billion) Net profit after tax $466 million (1H15:$579 million) Cash return on equity (ROE)

Western Australian Fires Declared A Catastrophe

The Insurance Council of Australia (ICA) has declared a catastrophe for bushfires in Western Australia’s south west. Hardest hit so far appears to be the town of Yarloop where about 95 homes are believed to have been destroyed, as well as businesses and infrastructure. The ICA has yet to receive any reliable estimates of claims numbers given many evacuated residents have not yet been able to return to inspect their residences. Initial estimates put the value of insured losses in the tens of millions of dollars. ICA CEO

Insurance Council Declare Cyclone Marcia A Catastrophe

The Insurance Council of Australia (ICA) declared a catastrophe for parts of central Queensland affected by the Severe Tropical Cyclone Marcia. Insurance Council CEO Rob Whelan said damage had been reported in many communities, including Yeppoon and Rockhampton. He said more towns and cities further to the south were also likely to incur storm and water damage as Marcia tracked south-west, bringing with it heavy rain and the potential for local flooding, and the ICA was continuing to monitor its path and impact. Mr Whelan said: “The

Is Google Insurance Coming?

Google Insurance Comparison With News Google has registered business names in the United States for its car insurance comparison site, could it also be planning to bring it to Australia? Google currently compares 176 insurance providers in the United Kingdom, however it face a number of hurdles before it could enter into the Australian insurance market 1) Insurers reluctance Since 2002 the owners of Quotesonline have approached leading Australian insurers, all of whom refuse to enter into the aggregation space, fearing

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