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Author: zz@abcomsure

AB Comsure welcomes a new Graduate Program!

Austbrokers Comsure strives to be a respected leader in the Insurance Industry, and we are always looking for ways to give back to the community. One of the greatest challenges facing the Insurance Industry is attracting high calibre insurance professionals, which is why we are very excited to introduce a new Graduate Program, aimed at recent University Graduates. It is designed to showcase the Insurance Industry as a superior alternative to other professions, as well as an insight into a future career in Insurance. 

Over a period of 12 months, a graduate position at Austbrokers Comsure, gives an inspiring leader the opportunity to work in a variety of roles including, Claims, Broking, Underwriting, Finance, Marketing, Business Services and Leadership, highlighting the wide range of functions that are available within the Insurance Industry. 

Though a structured learning program, Graduates will receive technical training attributed to each role, as well as training across a myriad of Personal and Inter-personal skills, including customer service, empathy, communication, team-work, leadership and emotional intelligence. 

The on-going professional development, mentoring, learnings, and networking opportunities that Austbrokers Comsure can offer through a Graduate Program, is a great step after University to fast-track your career and work out your interests. The aim of the program is to ensure the long term success of the Industry by unearthing future leaders. AB Comsure is very pleased to be able to offer and support it. 

The program’s rollout has proven to be very timely as the Austbrokers Comsure team is continuing to grow. We would like to welcome on board Justin Wise to our team as a Graduate Adviser for 2022! An exciting opportunity awaits. 

For more information on our Graduate program, please contact Ian Garbutt, Managing Director on 1800 122 194. 


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The Importance of understanding “Underinsurance”

Now is the perfect time to think carefully about your Sums Insured. The recent unfortunate and devastating storms and floods across the South East has highlighted a huge problem with underinsurance, particularly for home, contents, commercial property and business insurance policies.

“What is your “Sum Insured?”   This will represent the maximum amount your insurance company will pay. If you are underinsured, you can be penalized in the event of a claim – and then in reality, you have paid for an insurance policy that doesn’t cover the full cost of replacing your property/assets. This can lead to a large financial impact on you, your family or your business.

Factors that also contribute to being underinsured:

  • Knowingly electing a smaller Sums Insured. Whilst this does decrease the premium you pay each year, it can mean, in the event of a loss, that you will be underinsured.
  • A gradual accumulation of possessions. This is why it’s important to review your assets and/or contents each year as you buy more things.
  • Not accounting for upgraded assets. As we tend to replace with better quality and more expensive items, we need to make sure the level of insurance cover reflects the new replacement value.
  • Financial prioritization. Choosing a premium you want to pay vs. insuring your assets or property for the full replacement value.
  • Relying on bank valuations. They are typically conservative, however also include the predicted sale price including the land. Insurance requires the replacement value of the building/contents excluding the land. Sale price is not reflective of rebuild costs.   
  • Increased building/repair costs.  These costs increase every year, sometimes due to the fact that the items we buy become more complex with technology.   For example – Cars are more expensive to fix these days because of the technology within them, and the cost of building materials has risen at least 30% over the last 12 months. This is due to supply. This combined with the added pressure that a major event (pandemic/storm/fire/flood) ads to the building/repair industries as resources and labor becomes scarce which in turn pushes up the cost to rebuild further. 

In the event of a major claim, it’s important to be adequately insured, otherwise you may find yourself in a difficult situation unable to rebuild and get back on your feet to your pre-loss position. The realisation that you didn’t have enough Insurance is often heartbreaking for many, and whilst a portion of the claim could be covered, somehow you’ll be up to finding the rest. This is why the value you place on your home, contents, cars, commercial buildings / property / contents, is so important, and will help you sleep at night getting this right. 

As we learn through every major catastrophe, it’s important to review your Sums Insured each year before you renew based off last years figures. A lot can change in a year! 

If you wish to discuss and review your Sums Insured with your Adviser, please contact Austbrokers Comsure on 1800 122 194.

  


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How to protect you and/or your business from 98%* of Cyber Attacks

Mitigating against Risk is nothing new for any of us. At home you lock the doors and windows as you leave, you might have an alarm installed or security cameras, just to name a few. On the road, we always employ a safe driving practice, and we try and park our cars where they won’t be damaged in any event. At work, we have fire drills and sprinklers, a safe workplace culture and premises, as well as alarms when there’s no one on site. So, what are you currently doing to mitigate against the threat of Cyber risk? 

Did you know, that 73% of identified Cyber hacks came from Russia in 2020? This is predicted to majorly increase, as Russia’s attack against Ukraine unfolds and the rest of the world make difficult decisions with regards to their stance on the current situation. 

Most of us use a computer at home or work, or we use a mobile device whilst on the road. We have access to emails, apps, and some of us even have remote access to work systems. It’s important to have basic Cyber Security practices that can protect you from 98% of today’s Cyber attacks (*Microsoft’s Digital Defense Report, 2022).

These Include:

  • Passwords and Multi-Factor Authentication
    • Having a complex, hard to hack Password is a necessity, think Uppercase and Lowercase letters, Symbols and Length. Often the best passwords are a sentence. But to add to this complexity, use a multi-factor authentication on accounts that support it, which is as simple as receiving a passcode via a text message – so the systems know it’s definitely you logging in.
  • Anti-virus software
    • Antivirus software is important to keep your computer and systems safe from hacking. Make sure you renew it annually with the latest versions – cloud based software has the most accurate detection capabilities. 
  • Keep software up to date
    • As technology is enhanced, software is also enhanced to keep up with it. This might mean your software needs updating regularly (like our apps and phones). If your software is out-of-date, it’s vulnerable to Cyber attacks, as you’re not running the latest improvements. Devices that do not have the latest software should have restricted access until they’re updated. 
  • Apply least privilege access
    • This can be applied at home or work. At home, think parental controls, making sure your children can’t access things they’re not supposed to. At work, having tiered access levels (Owner/Manager authority all the way down to Receptionist Access). Individuals should only be given privileges needed to complete their work. The higher you are in an organisation, special access or abilities above and beyond that of a standard user applies, but again, only access necessary to complete their day to day tasks.
  •  Protect your data.
    • Data is everything. Make sure you have controls over who can access your sensitive data. You don’t want it being compromised – human error is as simple as sending an email to the wrong recipient. If your data is leaked or compromised, this could have major implications to you, your business, brand and reputation. Security measures must be in place, and controls in place on who can access it. 

Cyber crimes are organised, targeted and rampant in 2022. Cyber Insurance should be your last defense. If you wish to discuss your exposure, contact your Insurance Adviser at Austbrokers Comsure on 1800 122 194, or email us at info@abcomsure.com.au.


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SE-QLD & NSW Extreme Weather Event Update

Our thoughts go out to everyone that has been affected by the most recent Southeast Queensland and New South Wales Weather Event.  While the event itself may have passed, the destruction it has left in its wake has had a devastating impact across the region. Many of our clients have been directly impacted as a result, and it is heartbreaking to see the losses that have been sustained. 

Given the magnitude of the event, there are a high volume of claims being processed for the region.  The Insurance Council of Australia has reported in excess of 140,000 claims lodged with insurers so far, and the current damage bill is estimated to cost in excess of $2.4 billion. As a result, the insurance industry is experiencing significant delays in sourcing assessors, specialists, trades, and building materials to service all claims in a timely manner.  Claims are currently being triaged by severity across the region, with some insurers experiencing a 6-8 week turn-around time for arranging an assessment at the property.

Whilst the industry is experiencing significant delays, please rest assured that our Claims team and Insurance Advisers are working tirelessly to ensure that your claim remains at the forefront.  We will continue to monitor your claims and assist you in returning to your pre-loss condition as soon as we possibly can. We thank you for your patience and understanding whilst our processing times are higher than usual, and we will continue to stand by you during your time of need.  

We have been getting many questions about the various people that may be appointed to your claim. Please see below a list of people that may be appointed and their respective roles. 

Austbrokers Comsure 

Throughout your claim, you will receive regular communication from our Claims team, along with your Insurance Adviser.  Your Adviser is your designated broker who manages your insurance portfolio, and the claims team manage the lifecycle of your claim and act as an intermediary between yourself and your insurer throughout this process.  The claims team and the Insurance Adviser work together to ensure that we obtain the best possible outcome on your claim, within policy limits, and act on your behalf. Each claim is currently being team managed, to ensure that we are able to progress your claim as soon as possible. 

Loss Adjuster 

Your insurer may appoint a loss adjusting firm such as Crawford and Co, Sedgwick, or McLarens to your claim.  These external firms act on behalf of your insurer and are appointed to assess the damages at your property and complete a detailed report on all the items affected or destroyed by the insured event.  Loss Adjusters are used for both for building and contents related claims.  The Loss Adjuster will then report back to your insurer, advising the recommended coverage, trades, and scope of works required, which will assist your insurer in progressing the claim. 

Hydrologist 

Given the complexity of this catastrophic weather event, there may be various reasons why your property has sustained damage.  The damage may have been a direct result of a flood, rainwater, storm water run-off, or a combination of the above.  Your insurer may appoint a Hydrologist to attend your property to determine the primary cause of damage.  The hydrologist is an independent specialist that can determine the cause of water ingress by completing an on-site assessment.  Once the assessment is complete, the hydrologist will submit a report to your insurer for review, outlining their findings which will assist in determining the proximate cause of loss and how each policy will respond. Should you have any questions about your policy coverage or applicable excesses, please contact your Insurance Adviser. 

Restorer 

Your insurer or loss adjuster may appoint a Restorer to your claim, particularly if there has been extensive water damage. The role of the restorer is to assess the water damage to your building and contents, and attempt to remediate and restore them back to their pre-loss condition. The restorer will provide a report to your insurer advising what items were salvageable, and what items need to be replaced, along with a scope of works for approval. The loss adjuster will factor this into their report back to the insurer to assist in determining coverage of the claim. 

Builder

Your insurer or loss adjuster may appoint a builder to your claim for any property related damage.  The builder may attend to complete a make-safe to prevent further damages being sustained, or may attend to complete an assessment, scope of works and quote for building repairs required on the claim.  The builder will provide this information to the insurer or loss adjuster for review.  The loss adjuster will factor this into their report to the insurer for claim coverage.  Should your claim be covered, the builder will attend to complete the repairs once the scope of works has been agreed upon between yourself and the insurer. 

Engineer 

Your insurer or loss adjuster may appoint an Engineer to your claim.  Engineers are specialists that are appointed when there is suspected damage that may compromise the structural integrity of the property.  Should an Engineer be appointed to the claim, they will complete an assessment and determine whether the structural integrity has been compromised.  A report of their findings will be provided to the insurer or loss adjuster to assist in determining claim coverage. 

 

Should you have any questions in relation to your claim or the professionals appointed, please reach out to our claims team by emailing claims@abcomsure.com.au, or by phoning Austbrokers Comsure on 1800 122 194. 


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7 Common Christmas Scams to avoid.

Article provided by Know Risk.

In the future, when we’re scooting around on our hoverboards (it’s closer than you think) we’ll think back to this year as the year cyber crime went to the next level. Traditionally, it was the domain of shonky “lawyers” working on behalf of a wealthy, long-lost African relative who just wanted to send you millions of dollars out of the kindness of their heart, and of course, just needed your bank account details. Simple. However, these days there are many ways cyber-criminals can scam you into giving them your hard-earned dollars, particularly in the lead up to Christmas.

So here are the seven most common scams you need to watch out for this Christmas

1. Not so charitable

In Australia, the holiday season is often our most tragic, with the threat of bushfires and tropical storms never too far away. As Christmas is the time of giving, we’re always first to put our hands in our pockets and donate to those affected by disasters. Sadly, cyber-criminals like to seize on these moments and often trick us into donating to fake charities with cleverly designed email and social media campaigns that mirror legitimate ones and tug at our heart strings.

If you’re going to donate to a charity, do it through the charity’s official website or over the phone using their official phone number, that way you know your money is going to the right cause.

2. Spreading joy and junk

For the non-traditionalists, the digital e-card is a great way to offer your season’s greetings without having to lick any stamps. While there are plenty of well-known e-card websites, there are also plenty of fake Christmas e-cards that will be sent around by unknown senders. If you receive a digital Christmas card, be sure to check the sender before opening it and if the card asks you to click on a link or download software, don’t.

3. Hook, line and sinker

While phishing emails like those from our wealthy Nigerian relatives are a year-round occurrence, they certainly become more prevalent during the holiday season. The creators of these emails are much smarter than they used to be and may look to cash in on our desire for bargains. Instead of a plain word email, they design legitimate-looking emails promising deals, discounts and sales from trusted sources like the banks or retail outlets like JB Hi-Fi or Target.

With so many of us buying our gifts online and relying on shipping, targeted phishing emails pretending to be from Australia Post or couriers like FedEx often contain malicious links created to look legitimate.

When keeping track of your deliveries, go to the courier’s website and use the tracking code supplied by the shop you bought from rather than clicking on a link in any email. Sure, it may take you an extra moment but it’s certainly safer.

4. There’s no such thing as a free lunch

Social media is great. We get to look at reams of poorly taken photos of other people’s dinner and pass judgment on their holiday snaps. But one thing that has been popping up on social media sites is the “too good to be true” deal.

Be honest with yourself. Would you expect David Jones to be handing out Armani suits at 95% off or Harvey Norman to give away PlayStation 4s for $50? Not likely. Remember the adage that if something looks too good to be true, it usually is. As you’re scouring the web for this year’s must-have item, keep your eyes peeled for dodgy competitions on social media or links sent through an email and bogus gift cards.

5. Not so ‘appy days

With new smartphones or tablets on many people’s Christmas wish lists, there’s desire to get our hands on the latest apps. As with most things technology-based, cybercriminals have cottoned on and are increasingly releasing malicious apps used to steal data.

Before downloading any new apps, make sure you read the reviews first and take note of what permissions the app asks for. For parents, make sure your iTunes or Google Play passwords are kept away from your kids, in case they become tempted to download a new version of the Flapping Bird game.

6. Don’t be left stranded

Christmas time means school holidays, and many of us yearn to take a well-earned break and spend Christmas overseas. Unfortunately, travelling during this time of year is much more expensive than other times, something those pesky cybercriminals are well aware of. Looking to cash in on our need to get away, many cyber crooks will promote fake travel deals across email, social networks and legitimate-appearing websites.

In what is a double-whammy, these sites will not only take your money but clicking on malicious links will often install spyware. As we’ve said before if it looks too good to be true, it probably is, so when booking any travel plans, do so through a reputable website or travel agent. Use these tips on making sure the legitimate looking site you’ve been directed to is genuine.

7. The gift that keeps on stealing

Christmas means giving, and many companies will be giving away gift baskets as a thank you for doing business with them. Branded USBs are very popular these days and while very useful, make sure you know the company that has sent you the gift. Many USBs are pre-loaded with malware designed to steal your data once inserted into your PC.

If in doubt, throw it out.

 

Still Christmas Shopping? Add Personal or Business Cyber Insurance to your list. Speak with your Insurance Adviser at Austbrokers Comsure on 1800 122 194 for more information regarding your exposures and what you can get cover for. 


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Are you ready for Storm Season?

It’s incredibly important to prepare for the upcoming storm season as we all know how destructive the Australian summer can be. Weather events occur throughout the year, however, most occur between months October through to April.

Austbrokers Comsure has taken pre-emptive action to ensure we are in the best possible position to assist those who are affected by any upcoming weather events. It’s these stressful times when you need an Insurance Adviser to help you through it – knowing we are here for you personally through the claim, to handle it for you from start to finish and to make sure you get the best result possible.

So we thought it was timely to send through a guide on how to prepare your homes and businesses prior to storm season, in the hope we can all be better prepared.

STEPS:

  • Rake up leaves, remove overhanging branches, trim trees and have your gutters cleaned out.
  • Remove all debris from around your property.
  • Prepare an emergency kit (batteries, torch, radio, candles, first aid supplies)
  • Keep valuables, medications, important documents and spare clothes with your emergency kit.
  • Make sure you record emergency numbers for SES, glass repairers and Austbrokers Comsure.
  • Take photos of your valuables that you don’t have proof of ownership for as you will need this at the time of a claim. If you manage a business, ensure you take photos of your stock and note the condition, as this will assist you if you need to make a claim.
  • Identify how to turn off mains for water, power and gas.
  • Keep your vehicles’ fuel tank full if there is a weather warning issued. Make sure you have checked your spare tyre, wipers and lights.


If you do need to notify us of a claim what will you need?


MOTOR

  • Name your policy is in (personal or business)
  • Your driver license details
  • Location of your vehicle
  • Where the damage is
  • Photos of the damage if possible


HOME

  • Name your policy is in (personal or business)
  • Do you need a make safe?
  • We can assist you if you have damages that need to be addressed as a matter of urgency (broken glass, water entry from damage to roof and so on).
  • What the damage is to your property or contents
  • A list of item that have been damaged
  • Proof of ownership for the items being claimed
  • Photos of the damages
  • If this is a loss of food due to power failure, make a list of the items and take a photo before you throw them away.
  • If the carpets are wet and not cleanable and need to be removed retain a corner of the carpet – this is to confirm the type of carpet you had.

BUSINESS

  • Name your policy is held in
  • Location of the loss
  • Do you require a make safe
  • List of damages
  • Photos of damages
  • Depending on the type of cover and damage caused your consultant will advise what further details or information is required.

No matter the size of the claim, every one of them is important to us. We have relationships with Insurers that give us the holistic advantage because we know how to adapt our approach depending on which insurer we are working with. We work together to get our client’s claims across the line, in a timely and the most effective manner.

Find an Emergency Plan Fact Sheet produced by the Queensland Government here.

Are you ready?

Please call Austbrokers Comsure on 1800 122 194 in the event of a claim. In the event of an emergency after hours, please call our claims mobile on 0419 710 868.


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Burglars reveal the common mistakes homeowners make that tempt them

Are you an easy target? We’ve all done it – stashed the spare key in the pot plant near the door, or left a window unlocked because we’re just popping down to the shops.

A study was conducted by police surveying Western Australia detainees, to find out how burglars tick.

Overall 168 detainees were asked about their knowledge of common burglary tactics and here is what was discovered:

What mistakes increase your chance of being burgled?

  • Hiding keys in obvious places i.e. under the doormat
  • Properties that appear vacant
  • Leaving bins out
  • Letting your mail pile up in the letterbox
  • Not parking your car in the driveway
  • Homeowners who are under the influence of alcohol
  • Leaving curtains open with valuables in plain sight
  • Leaving a light and radio on late at night clearly advertising a home is vacant
  • Previous robberies in the neighbourhood

Some respondents said they still burgled properties when the occupant was at home, but just waited until they were clearly occupied with outdoor chores like gardening or washing the car.

Improving the security of your premises is a good way to deter and thwart any burglary attempts. So what can you do?

  • A dog – 61.4% of detainees surveyed said they’d be deterred from trying to break into a property if the owner kept a four-legged friend
  • A working alarm system
  • Grilled window’s and doors
  • Sensor Lights
  • Security Camera’s
  • Secure Fences

Staying at home won’t also stop you from being burgled, as 46.2% say they would still enter a home while the owner was inside, providing they thought they could get away with stealing things undetected.

The majority of detainees said they’d typically commit a burglary in the hours between 6pm and 7am, though 37.9% said they’d attempt it during the day.

A common theme we are starting to see is breaking into a Car, stealing the Garage Remote/Clicker, and opening / entering the Garage of a house. It’s very important to ensure the internal door is locked between your Garage and the House, and ensure you don’t leave valuables in sight.

Another issue we are now faced with is floor plans and photos being available online when a house is up for sale/rent. Why does this pose a risk to you? Well intruders know where your bedrooms are, know where doors and windows are located, and what they possibly need to break in, and they can plan their escape routes via Google street view/satellite view in the event they need a quick getaway.

Social media also poses a huge risk, if your profile isn’t set to private and you are posting those incredible holiday pics. Great way to find out that you aren’t home.

Interestingly, the study suggested 57.8% of burglary offences were spontaneous, while roughly a third involved prior planning.

Be safe, and rethink. No one wants to be a victim.

If you would like a review of your Home and Contents Insurance, please contact Austbrokers Comsure on  1800 122 194. 


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Freight Forwarders Liability Insurance – The importance of understanding your policy coverage

Navigating your insurance policy, limitations, exclusions and understanding whether you have found the best policy for your business and exposures isn’t an easy task. For some Freight Forwarders and Customs Brokers, many rely on a standard Liability or Business Pack insurance policy. Whilst this does provide some basic level of cover, many Freight Forwarders and Customs Brokers will find they are not adequately insured for the duties and tasks they undertake on a daily basis.

Unfortunately, these businesses often find out when it comes time to make an insurance claim and they realise they don’t have the right level of cover. Therefore, we have highlighted the key differences between generic business policies and taking out a Freight Forwarders Liability insurance policy with Austbrokers Comsure. We recommend accessing a copy of your current policy wordings to check how adequate your Insurance coverage is when comparing to the below.

Are you a Freight Forwarder with a Business Pack Insurance Policy?

Unfortunately, Business Pack insurance policies (also known as General Liability policies) are often mistakenly purchased by Freight Forwarders. This type of policy can be more affordable however only protects the insured from general business risks. However, Freight Forwarding isn’t what we at Austbrokers Comsure classify as a ‘typical business’. It is a unique and complex industry requiring tailored and specific “Freight Forwarders” Liability Insurance, to cover the typical risks a Freight Forwarder faces due to strict industry requirements. A standard Business Pack insurance policy is therefore tailored for small businesses such as cafes, retail and startups.

Do you rely on a Professional Indemnity Policy? 

Along with General Liability policies, we have encountered several Freight Forwarders and Customs Brokers facing the consequences of not being adequately insured. Professional Indemnity policies are tailored for professions such as Lawyers, Accountants, Engineers, Marketing specialists and Customs Brokers & Freight Forwarders. This type of policy allows Insureds to pursue legal avenues to clear a business’s name or reputation, and will also cover costs if a client suffers a loss due to incorrect advice. However, Professional Indemnity policies don’t cover a Freight Forwarder or Customs Brokers full business exposures, such as losses that may occur due to industry fines and/or penalties. 

How does a Freight Forwarders Liability Insurance policy cover you at Austbrokers Comsure?

With over 45 years of experience, we understand Freight Forwarders and Customs Brokers. We know how the industry operates, your business needs, and the common risks and exposures. Consequently, we have worked alongside an Insurer to create a market leading Freight Forwarders Liability Insurance policy to ensure these businesses are protected when they need it most. This tailored policy aims to include insurance cover found in a Business Pack and Professional Indemnity policy, with added features and benefits unique to the exposures found in the Freight Forwarding industry.

What cover can be found in a Business Pack Insurance policy?

  • Third-party liability for property damage and consequential loss (as an office risk and this does not apply to cargo being moved by you);
  • Pollution liability, including compensation or expenses relating to a pollution incident;
  • Tenant’s liability, compensation to a third party for damage to a premise;
  • Infringement of personal rights liability;
  • Products liability (physical products your business sells), providing compensation to a customer; and
  • Advertising injury liability, compensation for a customer regarding advertising injuries.

What cover can be found in a Professional Indemnity Insurance policy?

  • Errors and omissions, financial or consequential loss to a customer due to a wrongful, delayed or demurrage of cargo;
  • Infringement of personal rights liability; and
  • Consultancy services liability, compensation for a customer for financial loss arising from incorrect advice.

The extra coverage provided by a Freight Forwarders Liability Policy at Austbrokers Comsure:

The following features and benefits are covered by a Freight Forwarders Liability Insurance cover available through Austbrokers Comsure. Often Freight Forwarders and Customs Brokers don’t know this cover is available, or it can be overlooked when it comes to a Business Pack and Professional Indemnity policy. These are key areas of coverage below that minimize your current business exposures.

  1. Customer Liability

This section aims to extend the liability of a typical Business Pack policy and includes liability protection for the customer regarding the loss or damage to cargo. It also covers consequential loss resulting from loss or damage, as well as contractual liability. Contractual liability is based on the clients terms and conditions (T&C’s) or any specific contract that is agreed by the Insurer.

  1. Fines, Penalties and Infringement Notices

Whilst Business Pack and Professional Indemnity insurance policies cover losses, it is a unique feature of a Freight Forwarders Liability Insurance policy to include these financial burdens. Freight Forwarders and Customs Brokers often come into contact with Border Authorities, and over the course of business, they will likely need to deal with fines, penalties and infringement notices issued. Unlike other policies, a Freight Forwarders Liability Insurance policy also covers the Chain of Responsibility, including heavy vehicle infringements.

  1. Approved Costs and Expenses

Freight Forwarders and Customs Brokers can seek the coverage of specific costs and expenses, such as disposing cargo and removing debris following an occurrence. Additionally, this policy wording covers fumigation or disinfection of cargo, watercraft, rolling stock, containers or equipment concerning legal obligations surrounding quarantine.

Furthermore, the policy covers the Freight Forwarder or Customs Broker’s costs of redirecting cargo to the correct destination after it has been misdirected. When a consignee fails to collect cargo or remove abandoned cargo at the place of delivery, this section will assist in the coverage of additional costs. Freight Forwarders and Customs Brokers will also be able to recover costs for the general average or salvage for which they are liable for, and unable to recover from their customers.

  1. Customs Duty Liability

This section provides that the liability of unpaid cargo duty is limited, to comply with the Customs Act 1901 (Cth).

  1. Custody of Goods Liability

Where the insured is entrusted with the possession, custody or control of cargo and becomes liable for payment, this will be limited to comply with the Customs Act 1901 (Cth).

  1. Customs Broker Investigation Costs and Expenses

Under this policy, Freight Forwarders and Customs Brokers will be covered for legal, investigation or mitigation costs which have been reasonably incurred due to avoiding the suspension or revocation of their licence by a Border Authority.

What are your next steps?

Don’t wait until it’s too late. If you would like your policies reviewed to understand what gaps in cover you may have, if you have any questions, would like to take out a Freight Forwarders Liability Insurance policy, or would like to further understand Austbrokers Comsure’s additional coverage benefits, please contact Austbrokers Comsure on  1800 122 194.

Please note: This article is for information purposes only and does not take into account your personal situation or needs. Contact Austbrokers Comsure for advice.


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Can I pay my insurance in monthly installments?

Paying an Insurance bill is certainly not something that’s high on our daily “To-Do lists”. It is one of those pesky bills, and unfortunately if we don’t pay it, we won’t be covered.

So, rather than forgetting about it, Austbrokers Comsure has a solution for you. It’s a product called Premium Funding.

A cash flow solution that gives both families and businesses the ability to spread the payment of their insurance premiums over regular monthly instalments, instead of shouldering the whole cost upfront.

Benefits of Premium Funding include:

  • Retain working capital: For other income generating opportunities.
  • Multiple payment methods: Including direct debit and credit card.
  • Flexible repayment options: Up to 12 monthly instalments.
  • Fixed Rates: Protecting you from Interest Rates Fluctuations.
  • No Loan Security cost: The policy itself is the security.
  • Won’t interfere with existing finance facilities: Such as bank overdrafts.
  • Tax deductible: Interest repayments may be tax deductible.
  • Easy application process: One page premium funding application.


If you would like to speak to one of our Insurance Advisers further about how this can benefit you, contact Austbrokers Comsure on  1800 122 194.


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