INSURANCE NEWS

Tackling the Materials & Labour Scarcity

Critical labour shortages plus escalating materials costs are a spanner in the works for Australian construction businesses. In the year to September, residential construction costs increased 7.1%, the steepest rise since 2005. Those costs are tipped to jump a further 6% this year, says the Urban Developer. Underpinning those higher prices is the worst materials shortage in more […]

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How to prepare a business interruption claim

According to the Insurance Council of Australia, most business interruption policies weren’t designed to cover pandemics. Insurers didn’t factor them into their costs, and reinsurance wasn’t generally available for pandemic cover. This means there were no reserves set up for pandemic-related claims. But businesses shouldn’t necessarily see that as a brick wall to claiming on business […]

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Buying secondhand equipment? The low-down on your insurance options

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 – […]

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Prioritising workplace wellbeing during COVID-19

Mental health might not have been on the radar of many businesses previously, but this year COVID-19 has put mental wellbeing at the forefront of workplace safety considerations. Both employees and business owners have been subjected to additional stress and uncertainty, and self-isolation and possible loneliness have only added to feelings of anxiety. Back to […]

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When to get insurance for your new business

Congratulations on starting your new business. By now you’ve chosen a structure to suit, such as sole trader, partnership, company, or trust, and sought expert financial advice. You’ve registered your business and secured the right licences and permits to operate, either online or in a traditional brick and mortar building. You see promise for your business, and […]

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