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Is your Business at Risk?

Aug 19, 2014

Sourced from Insurance Business, “Broker network saves SMEs up to 7% on policies” – 7th August 2014.

According to industry-sourced research, 70% of Australian businesses don’t have adequate insurance cover. In addition, most SMEs do not have sufficient business interruption or cyber liability cover, leaving them potentially exposed to significant risk or even business failure.

Austbrokers Managing Director and CEO Mark Searles, urged small business owners to take advantage of the more competitive market to adequately insure their businesses. “Over the past year the soft insurance market has led to more competition which in turn is driving down the cost of basic insurance for small business. Yet despite these saving opportunities, the majority of SMEs are uninsured or under-insured.

As premiums are expected to remain soft for the remainder of this year, now is a great time for business owners and managers to review their insurance arrangements with their adviser and consider additional policies to reduce their overall risk.


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