In addition to our general insurance broking services of obtaining insurance product coverage for our clients, Business Insurance Specialists Pty Ltd and our strategic partners can provide where requested specialist advice and services to those clients who would appreciate a review of other areas of risk in their business and access to additional benefits from strategic partners of Business Insurance Specialists Pty Ltd.
Insurance replacement valuations
Insurance replacement valuation of your assets allows you to have peace of mind that not only do you have the correct insurance, but in your time of greatest need, insurers will have a formal report that outlines to them your asset register and the valuation placed on the asset(s) lost or damaged have been valued on a fair and reasonable basis.
Business Interruption insurance review known as risk accounting
Your most recent financials for the past two years in excel format will allow us to conduct this review to ensure that your income is protected properly.
The review can address issues such as:
• Sum insured for Gross profit, payroll, additional increased costs, claims preparation, supplier and customer sub-limits.
• Structure of coverage
• Periods of indemnity, limits of indemnity, type of cover required including payroll
Review and advice on insurance and indemnity contract clauses with Third Parties
Insurance is your simplest and easiest form of minimizing risk. In close tandem with this, reviewing and ensuring your contracts are adequate and correct in relation to both risk transfer and the retention of risk is important. We can provide general advice on this, or if required, we can obtain legal advice at discounted rates from the experts in this area.
Providing Business Succession plan and Key Person cover recommendations
Ensuring that your business can face adversity suffered through the loss of key personnel is paramount. People are important, but a true business must be able to survive the loss through death or accident of important management and staff in their business, and have your insurance able to be triggered correctly and matched with any buy / sell agreements between the owners or management of a business. We can introduce you to strategic partners who can assist in this area.
IT and Cyber Audit
With the explosion of data, how this is kept and used is nearly the most critical aspect of any business. We can request one of our IT partners to audit your IT Systems to ensure that you have the correct procedures in place. The loss of data in nearly any business these days is a catastrophic event, and you need to ensure that if this was to occur to you, that you have a plan in place.
Responsibilities of being a company director
As a director of a company are you familiar with the risks involved of being a director and the insurances you can take to protect yourself. Do you have appropriate indemnities in place.
Provision of on-line web based induction training to employees
If you have a large workforce, you could consider the advantages of streamlining your induction process, and saving both considerable time and money, and also ensuring that your staff to be, are inducted in a professional and standardised manner at all times.
Providing cost-effective personal insurance solutions including Insurance
Replacement Valuations and personalised risk surveys of prestige home premises.
We can have our insurers of prestigious homes provide covers that are unique in the market, and offer coverage far in excess of what is standard.
In addition to this, insurance replacement valuations and personalised risk survey reports can be provided where your level of home and contents meets minimum criteria.
Underwriter Presentations and Risk Control surveys
For major businesses, a professional survey of your property for insurance purposes can accomplish two major tasks – present your business to insurers in a professional manner and thus allow you to control the process of how you want to be presented and perceived by the insurance market. Often, insurers will conduct their own surveys; however, this will mean that you are at the mercy of how they interpret your business.
Furthermore, a survey will also point out areas that you may consider for improvement in order to ensure that your risk profile is reduced.
If you would prefer to pay for your insurance in instalments, we can arrange this for you through a premium funding service. This means your annual premium can be split into regular payments. Funding your premium this way can let you regulate your cash flow. Premium funding can also protect and maintain existing banking "draw down" facilities and provide an unsecured, off balance sheet loan.
Direct Access to overseas insurers for Hard-to-Place risks
Business Insurance Specialists Pty Ltd can easily access major overseas approved insurers e.g. Lloyds of London, and the many different syndicates that form part of Lloyds. This allows us to provide competitive terms from not only a local level, but also global where required