Skip to main content

Pandemic forces insurance rethink

The Covid-19 pandemic means insurance brokers need to work with their clients to rethink how insurance programs are structured.

Stephen Hamill, Director of Risk Management with Austbrokers Comsure, says the pandemic, coupled with other hazards, including climate change, has created circumstances in which brokers must help their clients navigate through a vastly altered business landscape.

“Global manufacturing markets and supply chains are under extreme pressure, so Australian businesses must understand their exposure to and reliance on international markets when considering business continuity planning,” Mr. Hamill says in a new white paper, Navigating risk in a time of change.

Read the white paper here.

Read Austbrokers Comsure 2019’s media release about the white paper here.

More News

Cyber crime: A growing menace

All companies, large or small, are targets for cybercriminals. Unfortunately, many businesses operate under the belief that their existing insurance policies are enough to cover their data security and privacy exposures. That is not the case.

However, Australian insurers are at the forefront in making good the damage of cyber attacks. Although stopping hackers and other criminals in their tracks is not within their capability, they can provide the next best thing by picking up the financial pieces of damaged businesses following cyber attack events.

What can be covered?

Cyber attack insurance can protect you from claims arising from your use of the internet, emails, intranets, extranets or your website. Cover can include but is not limited to:

    • Breach of privacy
    • Damage to your network or website
    • Transmission of a virus
    • Third-party liability
    • Cyber extortion.

Please contact our office for more information and professional help to implement the right cyber risk protection strategy for your business.

This information is not intended to be advice and should not be relied upon as such. You should always review your policy wording carefully.

More News

Business Continuity Plan: Covid-19

Due to the COVID-19 (coronavirus) pandemic and government guidelines, Austbrokers Comsure has enacted our Business Continuity Plan.

Austbrokers Comsure has reviewed procedures and decided to adopt a precautionary approach over and above official guidelines.

To ensure the safety and wellbeing of our customers, people, partners and suppliers, we have made some adjustments to our business operations to minimise any potential risks in this current environment. Here are the adjustments:

  • Our office will maintain a skeletal staff. Where possible, our people will work from home or remotely and be available on email and by phone to answer your queries.
  • Client meetings will be assessed on individual merits and requirements while complying with safe practices.
  • The main phone number will be answered but, if possible, use direct dial numbers and email addresses for brokers and the Claims team.

We have prepared extensively to ensure we can maintain service levels should more of our people need to work remotely in coming weeks and months.

We will monitor the circumstances continuously and keep you updated about this evolving situation.

We appreciate your understanding.


More News

Why use a broker?

Why use an insurance broker? Peace of mind, that’s why.

There is nothing worse than paying a premium for insurance, then, when you lodge a claim following an insured event, find you get the runaround from an insurance company and, eventually, a settlement that leaves you well out of pocket.

Buying your business and personal insurances through a qualified insurance broker has many advantages:

  • A broker will act on your behalf and provide you with personal advice based on your particular circumstances. A broker will offer guidance in the selection of your policies.
  • A broker offers a wider choice from multiple insurers, scheme benefits and discounts, and expert advice on levels and types of cover required.
  • A broker will provide sum-insured calculations, periods of indemnity recommendations and, depending on the size of your asset portfolio, refer you to other specialist services providers, such as risk managers, valuers, contractual and legal advisers, and HR specialists.
  • A broker will stand by you and represent your interests when you need to make a claim. Austbrokers Comsure Insurance Brokers will do all these and more for you. Call us or send an online inquiry to arrange an obligation-free review well before your renewals are due.

You have nothing to lose but stress and sleepless nights.

More News

Corporate travel insurance

If you have employees who are required to travel for work within Australia or abroad you should ensure you and they are not exposed to potentially large financial losses because of these travels.

Expenses for medical treatment, emergency medical evacuation, flight cancellations, hire car excesses or lost luggage are common losses companies can face when their employees are on business trips.

Most firms tend to forget about arranging travel insurance or, alternatively, arranging a series of single travel policies via their travel agent.

The best option to ensure a broader and generally more cost-effective cover is an annual corporate travel insurance policy from your insurance broker.

Annual corporate travel policies can be tailor-made to protect your business from all kinds of business travel expenses, including:

  • Personal injury
  • Medical expenses
  • Emergency medical evacuations
  • Repatriation of remains
  • Cancellation, curtailment, additional expenses
  • Personal liability
  • Luggage, money, travel documents
  • Alternative employee and other additional expenses
  • Hire car excesses
  • Missed transport connections
  • Extraterritorial workers’ compensation
  • Kidnap, ransom and extortion
  • Political and natural disaster evacuations

If you or your staff travel more than a few times a year on company business, annual corporate travel insurance is for you. That’s because it gives you flexibility and you are covered for every trip without having to remember to apply for a single policy every time.

Please contact our office for more information about the benefits of an annual travel policy for your business.

This advice is general in nature and may not suit your particular needs. You should always consider the PDS before making a purchase.

More News