Available Policies

Our policy descriptions

The following list is an indication of some of the more common insurances available on today’s market. It is not to be construed as a complete list of all insurances available. Should you have any concerns in relation to any aspect of your business, please do not hesitate to ask, as many covers can be tailored to suit your individual needs.

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

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

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

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

Boiler and Pressure Vessel Explosion
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.

Business Interruption (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.

Cancellation and Abandonment
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.

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

Compulsory Third Party (CTP)
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.

Construction Risks/Liability
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.

Corporate Travel
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.

Cost, Insurance and Freight (CIF)
The F.O.B. cost plus freight, insurance, and all other charges for delivery to the declared port or final destination.

Crops (growing)
Covers loss destruction or damage to crops from an insured peril.

Director's and Officer's Liability/Company Reimbursement
Director's and Officer's covers Directors or Officers for their legal liability for wrongful acts committed whilst acting in their capacity as a Director or Officer.

Company Reimbursement

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.

Dual Basis Payroll
This takes its name from the fact that indemnity is provided for payroll, i.e. wages and salaries, during two successive periods. The first is the initial selected period, e.g. 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.

Electronic Computer Crime
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.

Electronic Equipment/Breakdown/Business Interruption
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.

Employment Practices Liability
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.

Environmental Impairment Liability
Covers legal liability for personal injury or property damage caused by unintended gradual or long-term pollution. This policy also covers the Insured for legal costs and the costs of removing, rendering harmless, or cleaning up any substance which has caused or would cause environmental damage.

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

Extraterritorial Worker's Compensation
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.

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

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

Fire and Extraneous Perils
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.

Glass
Can cover either specified items of glass or more typically all glass on the premises. Cover can be extended to include such items as signwriting and framework.

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

Home and Contents
Covers domestic dwellings and contents against fire and other perils including theft and personal liability. Industrial special risks: 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.

Kidnap, Ransom, and/or Extortion
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.

Legal Expenses
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.

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

Machinery Breakdown (material damage/business interruption)
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.

Marine
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.

Money
This can cover money at designated premises, in safes and strong rooms and whilst in transit.

Motor Vehicle
This can take several forms:

• (a) Comprehensive, i.e. own damage and third party property damage.
  (b) Third Party Property Damage plus Fire and Theft.
  (c) Third Party Property Damage only.

• Compulsory Third Party “Act” cover. This is a compulsory insurance in all States of Australia and applies to Third Party Injury or Death sustained in an accident involving a registered motor vehicle.

Multi-Risks
A Multi-Risks policy covers the Insured against a wide range of unspecified, fortuitous risks of loss or damage (subject to policy exclusions etc.) to the property insured but not loss or damage caused by its inherent nature.

Non-Owned Aviation Liability
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.

Personal Accident/Illness
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.

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

Pluvius (weather)
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.

Product Tamper/Contamination
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.

Product Recall
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.

Professional Indemnity/Errors and Omissions
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.

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

Public and Products Liability
Legal liability to pay compensation (including legal expenses) to third parties in the event of the Insured causing injury, death or loss of/or damage to property arising out of business operations or products.

Reinstatement and/or Replacement
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.

Special Risks
Covers loss or damage to specified personal jewellery or valuables. This cover is usually placed in conjunction with Home Contents insurance.

Sprinkler Leakage
To cover damage caused to the premises and its contents (especially stock) through accidental leakage of sprinkler system.

Statutory Liability
Covers fines and penalties levied by government departments such as work cover etc.

Subrogation
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.

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

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

Technology Liability
Covers technology errors or omissions, technology media liability and technology broad-form public and products liability.

Third Party (under a liability insurance policy)
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.

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

Umbrella Liability
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, e.g. covers Advertising Liability.

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

Voluntary Group Accident Schemes
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.

Worker's Compensation
All employees injured by accident or industrial disease arising out of/or in the course of their employment are legally entitled to compensation under the various Workers’ Compensation statutes.