|
O ne of our roles as your General Insurance Adviser is to highlight areas where you may have an exposure to loss but are presently uninsured.
Following below is a list of insurances that are available. This list is not exhaustive and does not include all types of policies available in the various insurance markets, but represents a useful list for review of your insurance requirements.
For ease of reference, we have split the list into the following headings:
1. Asset Risks Protection
2. Income and Other Financial Exposures
3. Liability Risks and Exposures
4. People Exposures and Protection
Although many of these insurance policies my not be appropriate to your needs today, the business is constantly changing and it is appropriate that you review this list regularly to ensure that you remain comfortable carrying any uninsured exposures.
Asset Risk Protection
- Business Package - Covering a number of Risks for SME including Building, Contents, Business Interruption, Burglary, Glass, Liability and others
- Industrial Special Risks - Fire and Perils and Accidental Damage to fixed assets
- Householders - Loss or damage to residential premises and their contents
- Burglary - Theft of property following forcible and violent entry to premises
- Motor - Loss or damage to registered vehicles
- Fire and Perils - Damage to fixed assets caused by a range of nominated risks
- Glass - Damage to fixed glass
- Marine Cargo - Damage to goods while in transit
- Marine Hull - Damage to private and commercial vessels and related equipment
- Personal Valuables - Loss or damage to jewellery, works of art and other valuables
- Machinery Breakdown - Cost to repair following mechanical or electrical breakdown of plant equipment
- Aviation Hull - Loss of or damage to aircraft and related equipment
- Boiler Explosion - Damage to registered boilers by explosion, overheating, collapse
- Marine Builders Risk - Loss or damage to vessels during construction, testing and comissioning and delivery
- Jewellers Block - Loss or damage to stock of precious metals and gems
- Livestock and Bloodstock - Loss following death or loss of use of valuable animals
- Contract Works - Loss or damage to the project during construction
- Contractors' Plant and Machinery - Loss or damage to unregistered mobile plant, drilling rigs and the like
- Electronic Equipment - Material Damage and loss of data following breakdown or malfunction
- Corporate Travel - Costs following accident or illness whilst travelling
- Crop - Fire or hail damage to cash crops
- Political Risks - Expropriation of overseas assets by Governments or local authorities
Income and Other Financial Risk Exposures
- Account Receivable - Loss due to irrecoverable debts following destruction or theft of debtors records
- Advance Consequential Loss - Loss of future earnings and increased expenses following delayed completion of a project caused by damage
- Bonds Performance Guarantees - (an alternative to bank guarantees)
- Business Interruption - Loss of income and increased expenses due to damage to fixed assets
- Cancelltion and Abandonment - Cover is provided for loss of income and additional expenses incurred due to occurrences such as adverse weather conditions or non appearence of performers for many reasons, including death or illness
- Commercial Legal Expenses - The reimbursement of legal costs in either defending or pursuing legal action in areas of contract, employment, criminal, property, patent and write, motor and trade practices (both civil and statutory)
- Computer Breakdown - Profits loss of income and increased expenses following mechanical and electronic breakdown of computer equipment
- Computer Crime - Loss of funds following tampering with computer with computer systems
- Credit Insurance - This provides protection for insured debts following insolvency of a debtor and can be tailored to cover any single group of specific debtors or a blanket cover over all debtors
- Export Credit - Provides exporters with cover for default by customers or default due to politicial interference
- Fidelity Guarantee - Losses due to the dishonesty of employees
- Intellectual Property - Legal expenses incurred to defend patent, trademark, copyright etc.
- Kidnap, Ransom and Extortion - Monies paid following kidnap of staff or family or threats of damage to assets
- Machinery Breakdown Profits Increased - Loss of income and expenses following breakdown of key plant and equipment
- Marine Profits - Loss of income and increased expenses following marine transit material damage claims
- Money - Loss or damge to cash, cheques, negotiable instruments
- Product Tamper - Loss of net profit, recall and other expenses following product tampering
- Strike - Additional expenses incurred following labour disturbances
- Takeover Defence - Expenses to successfully defend a takeover of a public company
- Audit and Investigation - Expenses due to unexpected audits required by any statutory body, including Australian Taxation Office
Liability Risks & Exposures
- Broadform Public and Products - Bodily injury and property damage arising from the professional activities of an organisation
- Airport Operators - Bodily injury and property damage arising from the operation of a licensed airport
- Association Liability - This provides indemnity to those who hold positions on management committees incorporated organisations against negligent acts, errors or ommissions
- Aviation Liability - Bodily injury and property damage ariing from the operation of an aircraft
- Defamation - Damages following libel and slander
- Directors and Officers Liability - Damages following a wrongful act committed by the directors or officers of a company
- Employers Liability Accident Make-up Pay - Pays "Gap" between Workers' Compensation Act benefits and actual weekly pay
- Employment Practices Liability - Liability for employment related issues such as wrongful dismissal, sexual harrassment and discrimination
- Extra Territorial Workers' Compensation - For employees working interstate or overseas
- Environment Impairment Liability - Bodily Injury and property damage following gradual pollution
- Professional Indemnity - Damages arising from the professional activities of the organisation
- Forged Transfers - Damages and expenses following negligence in share registry
- Marine Liability - Bodily injury and property damage arising from operation of vessels, carriers liability, ship repair activities, charterers liability, container liability and stevedore liability
- Motor - CTP - Bodily injury arising from registered vehicles
- Product Recall Expenses - Expenses incurred in the recall of defective products
- Liability - Activties and from products manufactured, imported or sold
- Trustees Liability - Damages following mismanagement of superannuation funds by trustees
- Umbrella Liability - Provides cover in excess of standard Broadform liability policies, including Motor Third Party, but also provides blanket cover for many areas excluded by those policies
- Workers' Compensation - Providing cover for employers' liability for injury to employees, Act benefits and at Common Law
People Exposures and Protection
These products are arranged byadvised on by our Financial Planning subsidiary company AIIB Financial Services Pty Ltd - Group Life Cover - Provides a group of people with cover for death or disability at much lower rates than can be provided individually
- Consumer Credit - Personal Accident and unemployment insurance to protect finance loans
- Key Man - Financial loss following death or disablement of key personnel
- Loss of Licence - Lost income when an income producing licence cannot be maintained as a consequence of disability
- Major Trauma Cover - Provides lump sum of money following diagnosis of specified major personal health conditions
- Partnership and Shareholder Protection - This provides a package designed to protect the surviving shareholders in the event of the death or disability of a principal
- Personal Accident and Illness - death or disability following an accident or illness (cancellable contract)
- Income Protection - This can provide cover in the event a person is unable to follow their chosen occupation (a non-cancellable contract)
- Salary Continuance - This provides cover for continuation of employees' salaries after sick leave has been exhausted
- Travel and Expatriate Cover - Medical and repatriation expenses following injury or illness while travelling or working overseas
As mentioned previously the above list is not all of the policies that are available in the marketplace, but if you wish to have more information on any of the above or any other class of insurance not on this list, please contact us and we will provide to you details as soon as possible.
|
