Question 1

ISR Insurance Coverage

Accepted Answer

ISR Insurance provides comprehensive protection for high-value business assets valued over $5 million, including property, buildings, materials, and machinery.

Unlike standard business insurance that lists specific inclusions, ISR policies cover all key events unless explicitly excluded. This approach offers broader, more flexible protection for substantial physical assets.

Excluded risks can be added through extensions or separate policies to customize your coverage.

Question 2

Types of Losses Covered

Accepted Answer

Industrial risks insurance covers a comprehensive range of losses including:

• Fire and explosion damage
• Natural disasters (storms, floods, earthquakes)
• Machinery breakdown
• Theft and vandalism
• Business interruption from covered events
• Property damage to buildings and equipment
• Loss of materials and inventory

Coverage is based on an all-risks approach, meaning all perils are covered unless specifically excluded in your policy terms.

Question 3

Business Interruption Coverage

Accepted Answer

Business interruption insurance protects your income when disasters disrupt operations. It covers losses from fire, natural disasters, terrorism, equipment breakdown, and other unforeseen events that force business closure or reduced capacity.

This coverage is essential for all businesses, regardless of size. Disruptions can damage your market share, reputation, sales, and shareholder value.

We offer both traditional insurance solutions and additional risk management strategies to minimize business interruption exposure.

Question 4

Marine Transit Insurance

Accepted Answer

Marine transit insurance protects goods during transportation within Australia and overseas against specified damage events.

Ideal for businesses involved in:
• Shipping and receiving goods
• Commercial watercraft operations
• Vessel repairs
• Marina operations
• Freight forwarding
• Primary production
• Import/export activities

Coverage options include:
• Worldwide coverage for imports and exports
• Domestic goods in transit by you or professional carriers
• Stock, service items, and customer goods

Question 5

Plant & Equipment Insurance

Accepted Answer

Plant and equipment insurance protects expensive mobile machinery and equipment used in your business operations. This comprehensive policy covers accidental damage, loss, and legal liability for high-value assets with substantial capital costs.

Benefits include:
• Protection for mobile plant and equipment
• Coverage for accidental loss or damage
• Legal liability protection
• Income loss coverage during repairs

Ideal for businesses relying on costly equipment where damage or downtime would significantly impact operations.

Question 6

Industry-Specific Coverage

Accepted Answer

We provide specialized insurance solutions tailored to specific industry needs including:

• Bloodstock and equine operations
• Transport and logistics
• Financial technology (Fintech)
• Real estate and property management
• Manufacturing and industrial operations
• Construction and trades
• Agriculture and primary production
• Professional services

Each industry faces unique risks. Our expertise ensures your coverage addresses the specific challenges and exposures relevant to your business sector.

Question 7

Business Package Insurance

Accepted Answer

Business package insurance provides comprehensive protection tailored for small to medium businesses in one flexible policy. Coverage includes property damage from fire, perils, and accidental loss, plus 14 customizable cover options.

Key benefits:
• All-in-one policy simplifies insurance management
• Flexible coverage including liability, property, and business interruption
• Solutions for various industries: construction, real estate, professional services, transport, warehousing, and farming
• Purpose-fit solutions that save time and money

With our expertise in small-medium business insurance, we find the right coverage for your industry risks while you focus on running your business.

Question 8

Management Liability Coverage

Accepted Answer

Management liability insurance provides comprehensive protection for directors and management against major risks and breaches in business operations. Available for businesses with turnover up to $50M.

Key coverage areas:
• Directors' and officers' liability
• Employment practices liability
• Fiduciary duty breaches
• Regulatory investigations and defense costs
• Corporate reimbursement
• Cyber liability protection

We support diverse industries including professional services, technology, fintech, real estate, retail, manufacturing, and not-for-profit organizations.

Question 9

Cyber Liability Insurance

Accepted Answer

Cyber liability insurance protects your business from financial losses due to cyber breaches and attacks, covering defense costs and supporting business continuity.

Protection includes:
• Data breach response and notification costs
• Inadvertent release of customer personal information
• Cyber-crime and cyber extortion/ransomware
• Business interruption from cyber events
• Legal defense costs
• Regulatory fines and penalties

Essential coverage in today's digital environment where cyber threats continue to evolve and impact businesses of all sizes.

Question 10

Workers Compensation Coverage

Accepted Answer

Workers compensation insurance covers employee wages, medical expenses, treatment, and rehabilitation costs for work-related injuries.

What's covered:
• Lost wages during recovery
• Medical and hospital expenses
• Rehabilitation and ongoing treatment
• Permanent disability benefits
• Death benefits for dependents

Who's covered:
• Full-time and part-time employees
• Casual workers
• Contractors (in certain circumstances)
• Apprentices and trainees

Required by law in most Australian states for businesses with employees.

Question 11

Transport Package Coverage

Accepted Answer

Comprehensive commercial motor insurance for transport businesses, covering vehicle damage, business interruption, and goods in transit.

What's covered:
• Accidental vehicle loss or damage
• Business interruption while vehicle is non-operational
• Public liability coverage
• Transit compensation for goods and livestock damage
• Agreed value options for cargo loss or damage

This packaged solution provides complete protection for transport operators, combining vehicle, liability, and cargo coverage in one policy.

Question 12

Professional Indemnity Insurance

Accepted Answer

Professional indemnity insurance protects businesses providing professional advice or services against client claims of mistakes causing injury or financial loss.

How it works:
If a client alleges your company made an error resulting in their loss, this policy covers legal defense costs and damages you must pay.

What's covered:
• Negligent acts and errors
• Omissions in professional services
• Breach of professional duty
• Legal defense costs
• Court-awarded damages

Essential for consultants, advisors, designers, IT professionals, and other service-based businesses providing professional expertise.

Question 13

Who Needs Professional Indemnity?

Accepted Answer

Professional indemnity insurance is essential for any business providing professional advice or services. It protects against costly claims arising from mistakes or professional errors.

Ideal for:
• Accountants and bookkeepers
• IT specialists and consultants
• Advertising and marketing agencies
• Management consultants
• Engineers and architects
• Financial advisors
• Legal professionals
• Healthcare providers
• Designers and creatives

If clients rely on your expertise, this coverage prevents a single mistake from devastating your business.

Question 14

Importance of Professional Indemnity

Accepted Answer

Professional indemnity insurance is critical for protecting your business from the potentially devastating financial impact of professional errors or client dissatisfaction.

Why it matters:
• Claims can bankrupt uninsured businesses
• Legal defense costs alone can exceed $100,000
• Protects your business reputation
• Often required by contracts and industry regulations
• Provides peace of mind to focus on delivering quality work
• Covers past work even after policy ends (retroactive coverage)

Without this coverage, a single claim alleging a professional mistake could force your business to close.

Question 15

Broadform Liability Insurance

Accepted Answer

Broadform (Public) liability insurance protects your business from claims arising from everyday activities that cause injury, loss, or damage to third parties.

What it covers:
• Injuries occurring at your premises
• Property damage during normal business operations
• Third-party bodily injury claims
• Legal defense costs
• Court-awarded damages

Essential protection for:
Any business where clients, suppliers, or the public visit your premises or where your work could potentially cause injury or property damage. Everyday business activities carry inherent risks—this coverage protects you from financial loss when accidents happen.

GENERAL INSURANCE

Business Insurance

Business Insurance

ISR Insurance Coverage

Types of Losses Covered

Business Interruption Coverage

Marine Transit Insurance

Plant & Equipment Insurance

Industry-Specific Coverage

Business Package Insurance

Management Liability Coverage

Cyber Liability Insurance

Workers Compensation Coverage

Transport Package Coverage

Professional Indemnity Insurance

Who Needs Professional Indemnity?

Importance of Professional Indemnity

Broadform Liability Insurance

Personal Insurance

Personal Insurance

Household Property Protection

Rental Property Cover

Car & Vehicle Protection Plan

Business Vehicle & Fleet Coverage

Watercraft & Jet Ski Safeguard

Recreational Vehicle (RV) Assurance

Journey & Trip Protection

Accident & Wellness Coverage

LET ABOVEBOARDS
DO THE WORK

GENERAL INSURANCE

Business Insurance

Business Insurance

ISR Insurance Coverage

Types of Losses Covered

Business Interruption Coverage

Marine Transit Insurance

Plant & Equipment Insurance

Industry-Specific Coverage

Business Package Insurance

Management Liability Coverage

Cyber Liability Insurance

Workers Compensation Coverage

Transport Package Coverage

Professional Indemnity Insurance

Who Needs Professional Indemnity?

Importance of Professional Indemnity

Broadform Liability Insurance

Personal Insurance

Personal Insurance

Household Property Protection

Rental Property Cover

Car & Vehicle Protection Plan

Business Vehicle & Fleet Coverage

Watercraft & Jet Ski Safeguard

Recreational Vehicle (RV) Assurance

Journey & Trip Protection

Accident & Wellness Coverage

LET ABOVEBOARDS DO THE WORK

LET ABOVEBOARDS
DO THE WORK