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In recent years, building costs have increased significantly, driven by supply chain pressures, labour shortages, and sustained demand across the construction sector. While this is widely reported, what is less obvious is how these increases can quietly impact your insurance cover. For many businesses and property owners,...
Mention the words ‘dark kitchen’ a decade ago and, chances are, listeners would assume you were talking about an electricity outage. These days, most people understand that the term refers to a purpose-built commercial kitchen that’s used to prepare meals for delivery. Australians’ increasing appetite for...
Running your own show can be exciting and rewarding, personally and financially, but it’s not without its risks. There’s lots that can go wrong and if it does the buck usually stops with you and your fellow owners and directors – figuratively and literally. Should a...
Artificial intelligence has ceased to be the stuff of science fiction. It’s real, it’s here and it’s being used by businesses of all stripes and sizes to streamline their operations, reduce costs and enhance customer experience. Perhaps you’d like to join their number but aren’t sure...
Insurance is often a must-have when you’re running your own show. Whatever the nature of your enterprise, insurance is there to help you bounce back after an accident or incident. Understanding the trends that are affecting the insurance market can help you with your broker select...
In July 2024, global cybersecurity company CrowdStrike brought the internet to its knees, with a glitch in its software update that caused widespread system crashes with computers running Windows operating systems. One source suggests the total cost of the outage could run to more than...
Cybercrime shows no signs of slowing down in Australia. ReportCyber, the Federal Government’s online cybercrime reporting service, received close to 94,000 reports in FY2023, according to the Australian Signals Directorate (ASD) Cyber Threat Report 2022-2023. While attacks on big business may hog the headlines, small enterprises are...
Insurance is essential for every Australian business. Designed to help you recover following an accident or incident, it's can arguably be one of your most important investments. But it can also represent a significant expense. That's why it pays to spend time and effort making...
The past few years of natural disasters, from bushfires to floods, have reminded many business owners about the importance of business interruption (BI) insurance. It's been the difference between keeping their doors open or closing shop for good for some businesses. Business interruption (BI) insurance allows...
In its simplest terms, reinsurance is insurance for insurance companies. Unfortunately, global reinsurance is impacting businesses of all sizes following an increase in catastrophic events across Australia. Insurers paid out $36.5 billion in claims in 2022 alone, according to the Insurance Council of Australia. There were more than...