Proactive Measures: Latent Defects Insurance Insights

NSW is looking to make latent defects insurance (LDI) compulsory for high-rise residential buildings by 2028. This transformative move has been described as a “game changer” by insurance law firm Wotton + Kearney. Read on to find out more about latent defects insurance and the mooted changes in NSW. The Building Compliance Crisis Industry commentators argue […]

Stop Your Tools & Equipment Going Walkies: Here’s How

Tradies usually don’t have the time or inclination to report the theft of their tools to the police. This can prove costly but, as this article explains, you can minimise your risks and invest in protection for peace of mind. The Rising Issue of Tool Theft in the Construction Industry More than 29,000 tools were reported stolen […]

Have You Checked Your Home Cover Is Exactly What’s Needed?

January 2024 An estimated eight in 10 Australian homeowners are underinsured, according to insurance websites that cite the Insurance Council of Australia (ICA) or the Australian Securities and Investments Commission (ASIC). Considering the rise in extreme weather events, inflation, mortgage interest rates, and average insurance premiums since then, it makes sense to expect underinsurance rates […]

Hot & Dry Summer Ahead. Have the La Niñas Offset the Worst?

Last month, the Bureau of Meteorology announced the start of an El Niño weather pattern. Our country can, therefore, expect warmer and drier conditions for the next three months at least. What does that mean for you, your assets, and insurance? Factors influencing bushfires this summer We’re unlikely to see a repeat of the Black […]

Yes, You Can Insure Second-Hand Gear for Your Business

The options for buying pre-loved equipment for your business can be plentiful. They could include online marketplaces, retail, direct from an owner, via auctions or brokers. Maybe the gear is still within warranty or has been reconditioned, rebuilt, or is sold as is. The Ritchie Bros Annual Market Trends Report shows Australian figures for 2022 increased from […]

Misconceptions About Landlord Insurance Debunked

According to data from the ATO, nearly 2.3 million Australians declared rental income in 2020-21, with six per cent of landlords owning three or more properties. But despite these numbers, there are plenty of misconceptions about landlord insurance. This article covers the main four. Not tenanted? You should still insure it Typically, a landlord policy […]

Risk Management Tips for Australian Service-Based Businesses

As a service-based business operator, you typically enjoy lower running costs than those selling products. Instead, you offer intangibles, such as skills, expertise and time. However, you’ll still need to manage your risk profile. Here’s how professional indemnity cover helps shield your business from potential risks and exposures. Service-Based Businesses’ Risks and Exposures Consider how […]

Is Your Strata Insurance Really Looking After You?

Building defects are a common issue many investors and homeowners face. In fact, asmany as 85 per cent of new strata properties have defects. Some building flaws may seem trivial or superficial at first. But the reality is that a building can become uninsurable if defects are not dealt with properly. So how can you […]

Insider Tips on Managing Your Commercial Property Risks

As a commercial property owner, it is important to understand your responsibilities and ensure that you have the right insurance coverage to protect your property against potential damages. Unoccupied buildings During the pandemic, commercial buildings were often unoccupied temporarily or indefinitely. That can still happen today with the soft tenancy market in some parts of […]

Can You Claim on Your Home Insurance for Fence Damage? 

Learn the rules about claiming for fence damage on your property Your home might be your castle, but the boundary fence is your front line. What does it mean for your insurance if your fence is damaged or destroyed?  This article prepares you mentally for the process should you need to claim.  Are fences covered […]