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This insurance package is typically designed for small to medium size property owners and provides coverage for both Assets and Liabilities within the framework of one policy.

Key Features

• Fire and Other Damage:  Cover for your building and landlords fixtures for certain specified events such as fire, storm (but not flood), impact, lightning, explosion, earthquake. Also included is the cost of removing debris.
• Business Interruption:  Covers you for loss of gross rentals resulting from interruption of or interference with your leased premises caused by damage for which you are insured under either Fire and other damage policy sections.
• Glass (where vacant or tenant is not required to insure):  Covers the replacement value of broken glass. Also includes the cost of temporary shuttering, replacement of sign writing, repairing plastic signs up to Insurer’s limit.
• Public and Products Liability:  Covers your legal liability for personal injury or damage to property caused by an occurrence connected with the ownership of your premises.

Covers loss, destruction of or damage to contract works and all materials ascribed to the contract whilst in transit or on or adjacent to ‘the insured site’

(Cover applies both during the construction and maintenance periods and is tailored to reflect the particular risks specified that relate to construction contracts).

Can also cover legal liabilities for injury to any person(s) and/or damage to any property of third parties arising out of the construction/maintenance operations.
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Information you need to provide:
Business details including address, construction projects and construction materials details Length of time with current/previous insurer Claims history including number of, date and type of claims.

Covers baggage, overseas medical expenses, money, personal accident benefits, loss of deposits and other contingencies appropriate for insured persons whilst travelling on the business of the Insured. This policy is often purchased on an annual basis.

Information you need to provide:
Business details including address, number of trips per person interstate, intrastate (over 100k) and overseas together with average duration. Length of time with current/ previous insurer Claims history including number of, date and type of claims.

EMERGENCIES

• Medical Insurance verification
• Payment guarantees to hospitals
• Emergency Medical Advice (24 hours per day)
• Case Management if hospitalised
• Cost containment and control
• Hospital discharge planning
• Arrangement of evacuation home

Identification Cards that have been issued to identified overseas travellers should be carried whilst travelling. These cards contain a telephone number for emergency assistance.

The service includes:

NON-EMERGENCIES

A claim form should be prepared and sent to Shortland Insurance Brokers Pty Limited (ensuring your ABN No. and Input Tax Credit entitlement are included) as soon as possible. Overseas travellers must report losses to the local police or responsible officer of any aircraft or vessel on which he / she is travelling.

Cyber-attacks or data breaches can take many forms, from deliberate attacks to technology issues or simple negligence. As modern business is reliant on computer systems and networks, a breach of data or a shut-down of service can have a major impact on your business with many small businesses unable to operate afterwards.

Cyber Insurance can help in the event of a breach.

Small businesses are particularly vulnerable to cyber-attacks of all kinds and it can be very costly. Aside from the cost of notifying your customers, you may also face costs for PR, credit monitoring, investigations response and compliance related activity, compensation for affected customers and engaging experts.

Most of these costs aren’t covered by normal business insurance, which is why it is important to speak to us to make sure you are covered in case of a breach or attack.

Cover for your building and business contents & stock for certain specified events such as fire, storm (but not flood), impact, lightning, explosion, earthquake. Also included is the cost of removing debris.

MANAGEMENT LIABILITY (Directors & Officers Liability)

The policy is designed to protect the PERSONAL ASSETS of directors and officers by providing indemnity for any loss arising from a claim as a result of a ‘Wrongful Act’ committed by them in the course of performing their duties.

Wrongful Act means an actual or alleged breach of duty, breach of trust, neglect, error, omission, misstatement, misleading statement, breach of warranty of authority or other act committed or attempted by an Insured Person, individually or otherwise, in the course of his duties to the corporation.

Key Features

• Corporate Reimbursement Cover
• Entity Cover:  This is extremely relevant for private companies that are owned by the directors. A claim against the company will cause the same financial hardship to the owner therefore cover is extended to provide protection to the corporation.
• Employment Practices Cover:  Breach of employment practices
• Superannuation Trustees Cover:  Provides cover when the company has a sponsored staff superannuation fund when a trustee responsibility breach occurs.
• Corporate Crisis Cover:  Covers the cost for external crisis management services in the event that the Corporation is in the unenviable position of suffering a crisis $250k sub limit.
• Statutory Liability Cover:  Covers the Insured for a Penalty imposed by a Regulatory Authority for unintentional breaches of several acts $500k sub limit.
• Tax Audit Cover:  Provides Tax Audit Costs incurred by the Corporation in relation to an investigation or audit undertaken by the Australian Taxation Office $500k sub limit.
• Employee Infidelity Cover:  Provides employee theft cover for Dishonest Acts committed and discovered after the date from which the corporation has maintained uninterrupted fidelity insurance $250k sub limit

WHY WOULD YOU BUY THIS PRODUCT?

Many companies and their directors and senior managers unwittingly allow themselves and their PERSONAL POSSESSIONS to be exposed to litigation that occurs on an almost daily basis.

It is not unusual for privately held companies to be owned by the directors. These individuals have often built up the business through many years of hard work and personal sacrifices. These companies are in a position where they make a positive contribution however their efforts sometimes result in a third party being upset and angry by a decision that the company has taken.

WHAT ARE SOME COMMON TYPES OF CLAIMS BROUGHT AGAINST DIRECTORS AND OFFICERS

• Breach of duty/neglect
• Trade Practices/Fair Trading Legislation
• Insolvent trading under Section 588G of the Corporations Act 2001
• Mergers and Acquisitions (misleading and deceptive conduct)
• Shareholder disputes
• Employee claims (unfair dismissal, discrimination, sexual harassment)
• Unions/members (defamation)
• Regulatory authorities (ATO, ACCC, anti-discrimination boards, etc)
• Federal and state government offices
• Breach of contract

Covers a range of liabilities that can face an employer following wrongful termination, refusal to employ, failure to promote, demotion, disciplinary action, sexual harassment, discrimination or defamation of an employee.

Covers sudden and unforeseen mechanical or electrical breakdown of plant and machinery. The policy can be extended to cover consequential loss from interruption to the business following such breakdown.

Covers loss of and/or damage to stock from purchase as raw materials through manufacture and transit / shipment to final destination. This cover is often termed as ‘Cradle to Grave’. Sellers Contingency protects exporters when goods are destroyed or damaged as a result of the buyer not paying for the goods.

Marine insurance covers the risk of loss to ships and vessels – Marine Hull, and the risk of loss to property and goods in transit – Marine Cargo. Marine Cargo insurance is sometimes divided into Inland Marine, which covers property and goods in transit between locations without requiring sea transport and Ocean Marine, which covers property and goods subject to a sea voyage. Marine Cargo policies are issued in various forms depending on the requirement of the shipper, the shipowner, the charterer, the consignee etc.

• If goods are delivered in a damaged condition or if there is any reason to suspect damage, the attention of the Carrier’s or Shipper’s Representative should be immediately drawn to the damage and the delivery receipt noted accordingly.

In the event of suspected damage, it is suggested that the receipt be noted – Goods believed to be damaged. Accepted subject to survey in store

If there has been any malicious damage, burglary or theft, the police should be notified

Immediately when damage or pilferage is discovered, contact Shortland Insurance Brokers Pty Limited to receive instructions on what action to take. It may be necessary to appoint a surveyor/ assessor.

Write a letter of demand to the Carrier’s or Shipper’s Representative holding them responsible and asking them to pay costs & a sample letter of demand.

Send to Shortland Insurance Brokers Pty Limited the following documents:

• Completed Claim Form (ensuring your ABN No. and Input Tax Credit entitlement are included)
• Invoices or other proof of value of the consignment
• Original freight note or carbon copy
• Delivery receipts
• Suppliers packing slips where appropriate
• Bill of lading, consignment note or other proof of shipment, including clear statements of the conditions of carriage
• A copy of the letter of demand, and the carrier’s response (if any) received
• Details of possible salvage.

Industrial Special Risks/ Commercial Package (property & Business Interruption)

Claims Procedure:

Mostly these claims will arise from losses involving such events as:

• Fire
• Storm
• Flood
• Explosion
• Theft / Burglary
• Malicious Damage
• Breakage & Accidental Damage
• Impact by Vehicles

If something happens to cause loss of or damage to your property:

Take all necessary precautions to protect property from further loss or damage.

Call the police or other emergency services as required. Any loss by theft or wilful or malicious damage should immediately be reported to the nearest police station and details of the attending police noted.

If you suspect that the loss or damage may exceed the policy deductible, obtain all details you can:

• Of the incident
• Of the amount of loss;
• Of any witnesses.
• Contact Shortland Insurance Brokers Pty Limited immediately for instruction on how to handle the claim.
• Complete Claim Form documentation (ensuring your ABN No. and Input Tax Credit entitlement are included) and all claims documentation as soon as possible after the occurrence whilst details of the incident is still fresh in the minds of all concerned.

This insurance package is typically designed for small to medium size trades business enterprises and provides coverage for both Assets and Liabilities within the framework of one policy.

Information you need to provide:  Business details including address, business type, turnover and property details Length of time with current/previous insurer Claims history including number of, date and type of claims.

Key Features:

• Trade Insurance – Public and Products Liability
• Cover for your legal liability for personal injury or damage to property which is caused by an occurrence connected with your business.
• Trade Insurance – General Property
• Cover for everyday items of your choice when you are out, such as power tools, mobile phones, etc.
• Trade Insurance – Burglary
• Cover for theft of stock, electronic equipment and other business contents contained within your building, following forced and violent entry.
• Trade Insurance – Other insurance covers
• Construction
• Fire and Other Damage
• Goods in Transit
• Fraud and Dishonesty
• Equipment Breakdown (including mechanical and electronic equipment)
• Tax Audit
• Business Interruption
• Accidental Damage
• Money
• Glass
• Personal Accident and Illness

Coverage is available for:

• Buildings (Full AD), Common Contents and Loss of Rent
• Disaster Protection Option
• Legal Liability
• Officers Liability
• Voluntary Workers
• Officer & Employee Dishonesty
• Audit fees
• OH&S Defence Costs
• Single occupancy to Multi-tenanted retail, commercial and industrial strata risks

Residential Strata

Features & Benefits:

• Buildings (Full AD), Common Contents and Loss of Rent
• Catastrophe Protection Option
• Legal Liability
• Officers Liability
• Voluntary Workers
• Officer & Employee Dishonesty
• Audit fees
• OH&S Defence Costs

Legal liability for injury to the reputation, goodwill, profession, trade, business or credit of third parties in consequence of defamation, libel and slander

An important feature of any Professional Indemnity and Directors’ & Officers’ Liability policy is the ‘claims made’ basis of cover. Essentially these forms of cover require immediate notification of:

• A claim against an insured
• Any circumstances which may give rise to a claim under the policy.
• If such circumstances are not reported to the insurer prior to expiry of the period of insurance, the insurer is not bound to provide indemnity under the policy.

In order to ensure that any entitlement to indemnity is preserved, your insurer must be advised of any incident which may give rise to a claim immediately when it comes to your attention and prior to the expiry date of the policy.

Notification should be given to Shortland Insurance Brokers Pty Limited personnel who will then:

• Advise what action should be taken
• Notify insurers on your behalf.

Insurance covering accidental bodily injury to or death of third parties as a result of road traffic accidents. All owners of motor vehicles using public roads in Australia are required to have CTP cover taken out in the State in which their vehicles are registered. The parties involved in a road traffic accident are:

• First Party – the Insured or policy holder.
• Second Party – the Insurer
• Third Party – other persons involved, except the driver of the vehicle at fault.

Procedure for ‘Own Damage’ claims

Where the damage to the vehicle is under $2,000, proceed with repairs on the best of two quotations.

Where the cost of repairs exceeds $2,000, advise Shortland Insurance Brokers Pty Limited so that the vehicle may be assessed by your insurer.

Where the vehicle is undriveable, have it towed to a place of repair and leave the completed claim form with the vehicle. The assessor will collect the claim form when inspecting the vehicle and agreeing the cost of repairs with the repairer.

Where the vehicle is driveable, advise Shortland Insurance Brokers Pty Limited of the day when the vehicle will be available for assessment at the repairers’ premises. Leave the quotation and claim form documentation (ensuring your ABN No. and Input Tax Credit entitlement are included) with the vehicle. It will assist your insurers to have twenty-four (24) hours notice of a request for assessment.

Settlement:
Unless otherwise instructed, repair accounts will be settled directly with the repairer by your insurers. Settlement of claims in respect of vehicles which are deemed to be a total loss will be made with you and/or your financier, depending upon whether any amount is owing on the vehicle.

Procedure for Third Party Property Damage claims

Under no circumstances should any liability to third parties be admitted. Details of claims from third parties should be forwarded immediately to Shortland Insurance Brokers Pty Limited.

If a Third Party is at fault and the claim is below your deductible or you do not wish to claim under your insurance, proceed as follows:

• Obtain a quotation for repairing your vehicle.
• Send a Letter of Demand and the repair quotation to the Third Party.
• Keep a copy of the quotation and the letter.
• If the Third Party pays the cost of repairs the matter is settled.
• If they ignore the letter of demand, you should send a second letter about seven (7) days after the first one.

If they ignore the second letter, we advise referring the matter to your solicitor.

• First Letter of Demand
• Second Letter of Demand

Driver’s procedure

The following driver procedure should be kept in the glove box of each vehicle:  This information is supplied to assist in having your vehicle repaired as soon as possible, and to assist your insurer where appropriate to recover the cost of your repairs from the other driver involved in the accident. It will also assist the insurance manager in your own office to prepare the necessary claim form.

At the scene of the accident:

• DO NOT ADMIT LIABILITY.
• Comply with Police reporting requirements.
• If another vehicle is involved, obtain:
• The owner’s name, address and telephone number.
• The driver’s name and address.
• The name of the owner’s insurance company.
• The make, type and registration number of the vehicle.
• The name and address of any witnesses.
• Record the date, time and location of the collision.
• Notify the insurance manager in your own office immediately and assist him in completing a claim form.

An insurance broker acts on behalf of the client not on behalf of the insurance company as we as the broker have your best interests in mind, and can offer you insurance products from a vast range of insurers. An insurance agent acts on behalf of one insurance company in particular and will only offer insurance products from the one insurance company they are an agent for.

Cash, Credit Card, Internet Direct Debit, Bpay & Monthly Instalments (offered by reputable 3rd party premium funding companies).

Uncollected debts as a result of physical loss or damage to accounting and similar records.

The premium determined after expiration of the policy on the declaration of details such as wages, stock values etc, or the loss experience under the policy. The original premium charged on such policies may be referred to as the deposit premium, the base.

Consequential loss resulting from loss or damage to property whilst undergoing construction, installation etc. Advance of overheads, extended interest charges etc.

Usually the total amount of money an insurance company will pay under a Liability policy for all claims which arise during the period of insurance.

Covers third party liability which arises out of the ownership, maintenance or operation of registered aircraft landing areas.

The amount of premium which must be paid annually to meet the contractual requirements of the policy and keep it fully in force.

A term commonly used to distinguish life ‘assurance’ from general (ie, non-life) insurance.

A clause in a policy requiring that, where property is insured for less than its full insurable value, the Insured is required to bear a proportion of any loss. The proportion is the amount by which the property is underinsured expressed as a percentage of its full insurable value at the time of the loss. It is common practice for insurance contracts to be subject to Average or Co-Insurance which means that if the value of the property insured exceeds the sum insured, then you would be required to contribute proportionally to each and every loss.

Covers loss of or damage to the insured aircraft and liability to third parties, including passenger liability, arising from the operation of the aircraft.

This is a package product incorporating various insurances relevant to the banking and finance industries.

The insurance of animals for risks of death by accident, sickness or disease.

Covers loss or damage due to explosion or collapse of boilers and other pressure vessels that normally require a certificate of compliance before being used. The policy also covers liability for resultant third party property damage or bodily injury.

A surety bond is a contract of guarantee which has three parties:

1. The surety or guarantee, ie the Insurance Company.

2. The person who is to perform the subject matter of the bond, ie the Contractor.

3. The person in whose favour the bond is issued, ie the Owner or Obligee.

Under a bond, the surety undertakes to hold itself responsible up to the specified amount for the non performance or malperformance of an expressed obligation ie the obligation of the Contractor.

Burglary coverage is restricted to theft following break-in or committed by persons concealed on the premises. Theft cover is not dependent on either of those characteristics (and as a result, if available, is normally more expensive).

(Loss of Profits, Consequential Loss): Covers loss of gross profit or revenue, to maintain the continuing or fixed costs of a business and increased working costs incurred to avoid or diminish a reduction in the business results and profitability following loss of or damage to property.

Cover can be arranged to protect Promoters and Investors against losses that arise through the cancellation or abandonment of a nominated event caused by a prescribed peril or circumstance.

The amount of insurance or reinsurance available from one insurer or from the entire insurance market in a particular locality or country.

Covers the Insured’s legal liability to the owner of a chartered vessel and/or to third parties arising out of the signing of a charter party agreement.

The party making a claim under an insurance policy. The claimant may be the Insured. Under Liability policies, the claimant is a third party

Claims resulting from accidents or occurrences which have taken place but of which the Insurer has not received notice or report of loss.

To reimburse the company for payments it is legally entitled or obliged to make in indemnifying Directors or Officers for claims made against them whilst acting in their capacity as Directors or Officers. It will not reimburse the company for claims made against the company.

This insurance package is typically designed for small business enterprises and provides coverage for both Assets and Liabilities within the framework of one policy.

This exposure follows the construction of a project and protects various responsibilities of the Contractor after leaving the site.

Insurance covering accidental bodily injury to or death of third parties as a result of road traffic accidents. All owners of motor vehicles using public roads in Australia are required to have CTP cover taken out in the State in which their vehicles are registered. The parties involved in a road traffic accident are:

• First Party – the Insured or policy holder
• Second Party – the Insurer
• Third Party – other persons involved, except the driver of the vehicle at fault.

Covers loss, destruction of or damage to contract works and all materials ascribed to the contract whilst in transit or on or adjacent to the insured site.

(Cover applies both during the construction and maintenance periods and is tailored to reflect the particular risks specified that relate to construction contracts).

Can also cover legal liabilities for injury to any person(s) and/or damage to any property of third parties arising out of the construction/maintenance operations.

Covers contractual liability for loss of and/or damage to hired or leased containers and additional costs incurred.

Covers financial loss arising from the failure of parties to a contract to fulfil their contractual obligations.

Covers penalties under contract for delay in completion of a contract on schedule.

Lack of care on the part of the individual injured or suffering loss which helped to cause the accident or aggravated the injury or damage.

Covers expenses incurred in bringing under control an oil/gas well. Can include expenses such as seepage and pollution cleanup costs, re-drilling expenses etc.

Covers baggage, overseas medical expenses, money, personal accident benefits, loss of deposits and other contingencies appropriate for insured persons whilst travelling on the business of the Insured. This policy is often purchased on an annual basis.

The F.O.B. cost plus freight, insurance and all other charges for delivery to the declared port or final destination.

Designed to protect the Insured against commercial losses brought about by the insolvency of trade debtors. A policy will usually cover 90% of insured debt and is recognised by financial institutions as an asset when considering granting loans or other facilities.

Covers liability under the Customs and/or Excise Act.

This takes its name from the fact that indemnity is provided for payroll, ie wages and salaries, during two successive periods. The first is the initial selected period, eg 10 weeks beginning with the damage during which 100% of the rate of payroll is applied. After the initial period the cover continues throughout the remainder of the full selected indemnity period, but for a reduced proportion of the payroll. Cover is flexible as the initial period can be compressed or consolidated, depending upon the extent of a business interruption.

Covers liability to third parties for their purely financial loss NOT arising from injury to their persons or damage to their property. Limited cover can be purchased in various forms including Product Guarantee and Professional Indemnity insurance, but in general cover is difficult to obtain because the exposure is so pervasive.

Covers loss sustained by the Insured as the result of fraud perpetrated by anyone other than the Insured’s employees through the Insured’s computer or electronic communications systems.

Covers physical loss or damage, including mechanical or electrical breakdown, to computing equipment and loss due to interruption to the business as a result of loss, destruction or damage by an insured peril.

Refers to arrangements for Superannuation, group or individual Life Assurance, Disability or Salary Continuance insurance etc.

A prescribed class of insurance business commonly referred to as Workers’ Compensation insurance.

Documentary evidence of a change to an existing policy, for example, change of address, increase in sum insured etc. An endorsement may result in an additional premium, a return premium or no premium adjustment.

Covers losses caused by contract repudiation, export licence cancellation or currency inconvertibility preventing the transfer of payments made under a contract.

Policies are available to provide protection for breakdowns and defects that arise after the expiry of a manufacturer’s warranty period.

Provides protection for additional costs necessary to comply with government regulations following a loss, eg previous premises may have had a wooden staircase whereas current regulations require concrete, thus the sum insured should allow for reinstatement in concrete.

Legal liability to pay compensation (including common law damages) to an employee normally domiciled in Australia who sustains injury, disease or death somewhere outside the Australian State or Territory of domicile in circumstances where the local Workers’ Compensation policy may not adequately respond.

Covers loss sustained through fraudulent or dishonest acts committed by employees.

A range of policies are available to protect producers and investors against loss involving assets, liabilities, people, production costs and profit.

Covers loss of or damage to fine art and curios whilst on display, exhibition or in transit.

This composite policy can include a selection or all of the following perils: Fire, Lightning, Explosion, Aircraft, Earthquake, Storm & Tempest, Rainwater, Water Damage, Flood, Malicious Damage, Riots & Strikes, Impact by Vehicles or Animals.

Amounts payable by insurance companies to meet the operating costs of Fire Brigade authorities as determined by the various State Governments are passed onto policyholders as premium loadings known as Fire Service Levies.

This is a legal liability policy. If company shares or stocks are transferred from one name to another, due to the production of forged documents, both the registrar and the issuing company may be jointly/severally liable for losses incurred by the real owner.

A policy condition whereby no claim is admissible unless the loss exceeds a specified amount, at which point the Insurer pays the full amount of the claim.

Relates to the cost and charges from the supplier’s store, including the cost of the goods, cases, packing, rail, delivery charges, dock charges, land transit, insurance, customs and agents’ charges at the port of shipment. In other words, the total cost of the goods to be delivered to the vessel, but not sea freight or marine insurance.

A term used in Maritime Law to cover special claims. Briefly it means that if cargo of a vessel is sacrificed for the common good of all property at risk on that vessel, then all parties involved will contribute to the loss of those whose goods were sacrificed, ie if a ship carrying goods on your behalf is forced to jettison your goods for the safety of the ship as a whole, then the owners (or their insurers) of the other cargo and the ship would contribute so as to reduce your loss. Similar principles would apply for other owners if their cargo was jettisoned to protect yours.

Covers loss of or damage to specified property, normally of a portable nature, which is not covered under the policy on property at the insured’s premises.

Covers a nominated group of individuals for a specified benefits against a range of accidental disabilities. Benefits are payable to the organisation purchasing the cover rather than to the disabled person.

Covers employees and their families for reimbursement of health and dental charges incurred in addition to those reimbursed by Medicare.

Covers domestic dwellings and contents against fire and other perils including theft and personal liability

The principle of indemnity is to place the Insured in the same financial position after a loss as that which applied immediately before the loss. That is, the Insured does not receive ‘new for old’.

This embracive policy typically protects the Insured against losses involving assets and business interruption arising from physical loss or damage to the property used in the business

A specialist market exists to cover claims against authors for infringement of copyright in a variety of areas

This term refers to a quality inherent in goods or their packing which produces deterioration or loss or damage to the goods without the assistance of another party and by its own action, eg. weevils in flour.

This term is used in the Business Interruption policy and comprises Net Profit plus the total of all expenses which will not necessarily diminish proportionally with a reduction in turnover or production, eg rent and rates. This is calculated by adding Turnover and Closing Stock less the sum of Opening Stock and the uninsured Working Expenses (ie, the variable costs).

An interest in relation to, or liability with respect to the subject matter of insurance which is of such a nature that damage to the subject matter, or injury or damage caused by or liability arising from the subject matter would result in financial loss to the person concerned.

Covers a specified amount following the death or disablement of selected key personnel. This cover should be purchased where the loss of key personnel may result in loss of market confidence, significant cost of employee replacement, short-term cash flow difficulties, debt foreclosure, etc.

Covers ransom monies and negotiation expenses in the event of kidnap of an employee or members of their family or resulting from threats against property

Protects residential property owners in the event of damage to their property by tenants.

Covers expenses in either pursuing or defending an action arising from disputes with customers or suppliers for the sale, purchase, hire or supply of goods or services or in defending employment contract actions brought against a company by employees or in defending any criminal prosecution made against the company, its directors or employees.

Covers an individual against death by any cause with the exception of suicide, subject to certain time constraints.

Is available to a person who is dependant upon a form of licence in order to earn a livelihood, eg a pilot. The insurance covers specified benefits in the event of accident or disability which results in discontinuance of the licence.

Covers expenses associated with a variety of potentially serious, often life-threatening nominated sicknesses and diseases.

This can cover money at designated premises, in safes and strongrooms and whilst in transit.

Covers financial loss as a result of default by the borrower.

Utilised to provide for the repayment of an outstanding mortgage or other outstanding debt which is being paid off by instalments, in the event of death or disablement of the mortgagor.

Covers legal liability to third parties (including passengers) for accidental death, bodily injury or damage to third party property caused by an aircraft or by any person or object falling from an aircraft not owned by the Insured but which they charter, hire or use with the permission of the owner, only whilst such aircraft is in the care custody or control of the Insured.

Can provide weekly and lump sum benefits for accidental death or injury to a specified person or persons. Protection is also available to cover sickness

This policy can cover the craft itself, accessories and also Third Party Liability (including to and by water skiers).

Insurance to provide an agreed sum in the event that a nominated quantity of rain should fall during a specified time period, on a specified date and location. Cover is often required by promoters of sporting and outdoor events who would expect to incur financial loss should rain affect attendance at an event.

Covers loss by confiscation, expropriation, nationalisation, requisition, destruction or deprivation by actions of governments or local authorities of countries in which the Insured may trade.

Covers legal liability either at law or under contract to repair or replace defective products made, sold or distributed by the Insured.

Covers the costs and loss of net profit where products are withdrawn or destroyed due to actual or alleged contamination or malicious tamper so as to render the product unfit or dangerous for use.

Covers legal liability for all costs, expenses and damages for withdrawal or recall of goods or products because of any known or suspected defect or deficiency therein.

Covers legal liability to compensate third parties for loss sustained by them arising out of negligent acts, errors or omissions or civil liability on the part of the Insured in the conduct of their business.

Covers liability to third parties arising out of the ownership of watercraft/vessels.

A signed document accepting settlement for a loss.

This is a method of insuring property on a “new for old” basis. In the event of a physical loss or destruction of property insured under these conditions, settlement would be based on the cost of replacing the property or restoring the damage in new materials without any deduction for depreciation.

Covers for a specified period of time, up to 100% of salary of an employee or self-employed individual who cannot work because of a prolonged disability arising from accident and/or sickness.

Covers seismic survey equipment offshore against loss or damage by insured perils.

Covers loss or damage to seismic tapes during transit, processing or storage.

This is designed to cover damage caused to the premises and its contents (especially stock) through accidental leakage of the sprinkler system.

The common law right of an Insurer to recover from a third party who is wholly or partially responsible for a loss paid by the Insurer under the terms of a policy. For example, when an Insurer has paid the Insured for loss sustained to his car as the result of a collision, the Insurer may collect through the process of subrogation from the person whose car caused the damage. Subrogation recoveries are treated as reductions of losses paid when calculating claims experience.

Provisions for retirement. A wide range of Superannuation and related Life Assurance products are available in the market.

Covering expenses arising from a successful defence against an unwelcome bid to take over or acquire control of the insured company.

Covers professional fees charged by an accountant in connection with a Taxation Office audit, including costs in obtaining expert advice.

Covers technology errors or omissions, technology media liability and technology broadform public and products liability

Covers computer systems fraud, telecommunications fraud, computer virus, loss of data due to hacking, business interruption and extra expense.

A person, not a party to the insurance contract, who has an alleged right of action for injury or damage, against the party insured under the policy.

Covers business interruption loss attributable to the strike action of the employees of the Insured’s customers or suppliers of goods or services.

Caravans and car or boat trailers can be covered by this type of policy.

Covers trustees and trust managers of superannuation funds. Covers fiduciary legal liability to compensate third parties (including legal costs incurred) arising out of the negligent administration of the trust or fund.

In all contracts of insurance, it is a fundamental principle that the parties must exercise the utmost good faith towards each other. Any material fact which would influence the parties to the contract must be disclosed, otherwise there are grounds for avoiding the policy.

A legal liability insurance which provides cover: in the same circumstances as other liability policies such as Public & Products Liability, Motor Vehicle etc but provides additional sums insured above those insurances (known as ‘Excess Liability’). of a wider scope than the underlying liability policies, eg. covers Advertising Liability.

One who determines the degree of acceptability and the pricing of insurance business.

Personal valuables can be either insured only whilst in the home or anywhere in Australia or whilst travelling abroad.

Covers employees by way of a payroll deduction scheme, for death or disablement as a result of an accident. Cover also provided for an in-hospital cash benefit.