Emerging Cyber Insurance Trends Your SME Needs to Know Australian businesses are getting smarter about managing cyber risks. Two moves – learning more about ransomware and improving their defences against cyberattacks – are paying off, according to a recent industry survey by consultancy CyberCX. It found ransom payments dropped 50% in 2023, according to The Australian [...]

Ensuring your manufacturing business has the right insurance cover Australia is home to more than 100,000 manufacturing businesses. If yours is one of them, you’re probably familiar with the challenges that come with operating in this sector. There’s no shortage of things that can go wrong and without the right insurance cover in place, it’s easy to [...]

Find Out if Corporate Travel is Worth it for your SME Business travel is expected to remain strong in 2024, with research indicating a boost from sectors like manufacturing, healthcare, mining, oil and gas, professional services and construction. According to professional services firm, McKinsey, corporate travel is on track to reach 80% of pre-pandemic levels this year. So, [...]

Here are the top five insurance claims Australian SMEs make, according to insurers. This article will also offer tips to improve your risk management, so you’re less likely to need to claim for any of these events. #1 Claim: Theft Theft and burglary are the top claims. Consider these moves to reduce the likelihood of [...]

AU Cheques on the Way Out: How It Could Affect Your SME It’s official: Australian governments will stop using cheques by the end of 2028, with the financial system banning them by no later than 2030, says the Federal Treasury. You can see the government’s roadmap for more information about the transition, but this article will cover the [...]

Each event comes with unique risks, from corporate conferences to music festivals.  Weather disruptions, venue mishaps, supplier failures, and unforeseen cancellations are just a few pitfalls that could derail even the most meticulously planned occasions. While recognising and mitigating these risks is paramount, insurance can provide financial protection and peace of mind. It could shield [...]

There’s a lot to like about working for yourself, including freedom and flexibility.   But it’s not without its risks. Things can go wrong, and your income and personal assets could be at risk without the right insurance cover. In a worst-case scenario, you could be forced to sell your home or other assets you’ve [...]

As an SME, you’re always looking for a better deal for insurance to protect your business, its assets, and liabilities. This article explains how an insurance broker or adviser's expertise can optimise your coverage within your budget and risk profile. The Great Insurance Squeeze Insurance premiums have increased 16.2% over the past year, faster than [...]

Is your small business among the one in four that say they’ll go under if faced with a liability claim? That’s the alarming statistic from one insurer’s survey. More respondents said they would: Lose clients Expect less revenue Have cash flow woes. At the crux is understanding the cost of and whether you would be able [...]

Australians think of medical providers as their front-line defence for health issues, but who’s helping those healthcare practices to stay ‘healthy’? This article is a guide on sector-specific risk management to help protect your business. Healthcare practices’ risk factors to consider Common risks for medical practices include: Compliance with the standards of the Royal Australian College of [...]