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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,...
These days, lithium batteries can be found everywhere, from smartphones and laptops to electric scooters, bicycles and vehicles. But while they’re a critical element of modern life – and integral to Australia’s emissions reduction strategy – they have an element of risk attached to them which...
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...
There are many useful and official resources to help businesses prepare for summer bushfire season and other risks. It’s also essential to have the right insurance cover in place so that if your business does experience a natural disaster, you can get back on its feet...
All the data points to a hotter than-average summer, which means Aussie businesses should prepare for extreme weather during the warmer months. Here are some steps you can take to help prepare your small business, in case droughts and floods affect your area. The Australian Actuaries Climate...
When you suffer an insurable event, the way you approach the claim from the start can make a huge difference in terms of how quickly the claim is processed and whether it’s approved, as these examples show. In the first case, the business relied on a...
Last year, there were devastating bushfires, in 2020, the turmoil produced by the COVID-19 pandemic and in 2021, La Nina. While La Nina has not translated into wet conditions over the spring season, businesses should still be vigilant over the coming months. A Niña is a...
Although bushfire season is here, this risk is only one of a host of different sources of fire. Arson is often the cause of fire and poor maintenance standards are another serious fire risk for businesses. For instance, damaged or old electrical cabling is all too...
With bushfires burning around the country, it’s important for homeowners in fire-prone areas to take steps to ensure they have the right insurance in place. This is especially important given how easy it is for people living near the bush to find they are underinsured after...
A new report shows there has been a substantial jump in insurance claims as a result of internal water damage since 2014. Insurer Chubb’s new report, Get Smart about Water Leaks, has found claims related to water damage have grown by 72% over this time. The average...