As your business grows, the people involved in growing and managing it are
exposed to risks.
Liability risk
cover protects the company, its people and its products or services against
legal claims.
Directors and
officers, senior management and all the individuals must have adequate
protection. Equally, the products and services you provide need to be insured.
Litigation may occur when you least expect it.
Austral will work
with you to identify your risk exposures in these areas and help you
proactively manage liability risk in your business with the right business
insurance.
Association (NFP)
Not-for-profit organisations and their office bearers and
employees are exposed to a variety of risks arising from their work.
Association Liability Insurance incorporates elements of
professional indemnity cover and management liability cover to protect the
organisation, office bearers and employees against legal costs and damages
expenses that could arise from allegations of misconduct, breach of duty,
mismanagement and more.
Construction
Construction is complex and costly. You must be confident
you have the right insurances in places to ensure the project can run on time
and on budget, no matter what happens.
Construction liability will cover loss, destruction or
damage to a construction site. It can cover all materials destined for use
there. It also ensures the people working on your site are protected.
Austral understands each construction project has unique
challenges. Speak to one of our team to get expert advice (and peace of mind)
for your next project.
Cyber Risk
Cyber attacks are a real threat to any company. Our reliance
on the Internet, the complexity of our IT systems, cloud technology and
personal electronic devices at work and social media, all offer real threats to
your business and the security of your data.
Austral Risk Services will work with you to safeguard your
company in a number of ways.
We will develop risk management and education programs for
your team about external and internal cyber risk, its implications and how to
manage it. We will also review and recommend suitable specialist business
insurance products designed specifically for these threats.
Click here for more comprehensive information about managing
cyber risk in your organisation.
Directors and Officers
Directors’
and Officers’ liability insurance protects against legal expenses incurred on
behalf of directors, employees and organisations in defending against actions
which are not covered under the standard Directors & Officers
Liability/Company Reimbursement policy. This could include prosecutions related
to Occupation Health & Safety (OH&S), Environment Protection Authority
(EPA) and some employment related matters such as harassment, discrimination or
wrongful termination.
Employment Practices
People are the lifeblood of all businesses but managing them
can be difficult. Employment practices liability is critical for those times
when things go wrong. Wrongful termination, a demotion, disciplinary action and
sexual harassment are just some examples which can end up with a lawsuit.
You must be sure you minimise employment risks for your
business and put the right protection in place.
Management
Management liability insurance protects directors, officers
and your business from a broad range of risk exposures relating to the
management of a private company, partnership, sole trader or not for profit
organisation.
Anyone who is involved in the management of a business takes
on responsibilities that may leave them personally liable for alleged or actual
mistakes. There are myriads of examples where the business may be tested.
Management liability includes:
- Directors' and Officers' Liability – Covering wrongful acts by the business and directors and officers.
- Employment Practices Liability – Covering wrongful employment practice claims made against a business.
- Statutory liability – Covering any errors or omissions made by a business for not meeting specific business, employment or industry statutory requirements.
- Company liability – Covering defence costs and settlements made by third parties against the business.
Austral will guide you through the risks your business faces
and assist in determining the right management liability insurance you need.
Professional Indemnity
Professional Indemnity insurance is a form of cover that is
specially designed for businesses and individuals who provide professional
services to their clients. Errors can be costly. The loss does not have to be
strictly monetary but could be material, physical or financial.
If someone initiates a lawsuit against you claiming you have
breached your professional duty you could find yourself having to fight an expensive
and protracted legal battle.
Austral’s professional and experienced team can help you
make the right decisions.
Public and Products
Public and products liability is a broad insurance cover,
critical for every business entity.
Broadly speaking, public and products liability insurance
covers a company’s legal liability to pay compensation to a third party or
parties in the event of the company causing injury, death or loss of or damage
to property arising out of business operations or products.
Understanding your risk exposure is critical in getting this
right. To determine the best level of Public and Products Liability cover for your company, speak with
Austral.
Workers’ Compensation (Common Law)
Businesses are about people. And protecting the people
working in your business is a given. Workers’ Compensation is a complex area
and is one where Austral excels. We have saved the businesses we work with from
greater risk exposure and also saved them costs for protection.
Austral will advise you on what you need to know and do.
Please click here for more comprehensive information on Workers’ Compensation.