Underinsurance is more common than you think. Industry figures show up to 62% of small-to-medium-sized businesses don’t have correct-value insurance. So, whether you’ve self-assessed or secured professional valuations for your business plant, equipment, and property, you might still be at risk of underinsurance. Here’s why: Your self-assessment might be wrong You’re insuring for the price you paid […]
Will today’s bargain be tomorrow’s burden? With used business, farming, and construction equipment in high demand, it’s worth assessing the benefits and risks of buying secondhand. Factors causing the rush are the pandemic disrupting international supply chains and a growing appetite for buying online. Overall, the secondhand economy – not just for business equipment – […]
Employment practices’ liabilities can be expensive, disruptive, and time-hungry to businesses. Claims are also rising. That’s because employment laws and regulations are complex and often change, so businesses can struggle to stay compliant. To help, we’ve compiled an update on the risks to your balance sheet and how to manage your practices more effectively. The risks of your […]
If your business received COVID-19 support payments, such as from the Federal Government’s $90 billion JobKeeper program, you may face an ATO tax audit. That office is expected to focus on employer obligation audits and reviews this year. At the height of the pandemic between April and September last year, 3.6 million workers received the JobKeeper wage subsidy. The […]
If your company orders, receives or sends goods in transit, you’ll have noticed supply chains are a different ball game thanks to the impact of COVID-19. In this article, we’ll outline the changes and how they affect your company’s risk profile as well as insurance cover. Here are the changes in a nutshell: Production delays […]
