Some questions are more common than others. Here are some answers to the most common business insurance questions.


Following are some frequently asked questions that may be helpful for you. Please call us if you have a specific question you'd like answered. We're always happy to help.


Why use an insurance broker?

An insurance broker ensures you have the right protection in place to address your specific risks.  Austral Risk Services assess your risks and provides impartial advice, critical claims service, and access to comprehensive and tailored policy wordings at competitive prices – and we are your advocate in the event of a claim. This is an important role.

At Austral, our aim is to build trust, transparency and excellent communications in all our relationships with our clients to ensure we can perform to our best ability for them. We’re friendly and personal too.


Can I get discount on our business insurance premiums?

We negotiate with insurers to get you the best possible business insurance rates. Our Austbrokers network is comprehensive so we have the capacity to offer real savings to our clients.

Why isn’t the cheapest insurance option necessarily the best option?

Like many non-insurance products, you do get what you pay for. Business insurance is no different. As your broker, we can help explain the different options and why it may be preferable to choose a more expensive option to ensure you have the correct protection for you and your business.

Why is insurance so expensive?

We suppose the other way of looking at this question is, how much is your business insurance worth to you?

Having security and knowing that your business can weather any storm is paramount. Premiums do vary from time to time and we will always keep our clients abreast of any savings they can make in their insurance premiums as we appreciate that this can be a considerable expense for any business. This is part of our role as your insurance broker.

Vehicle claims

An employee has had an accident, what do I do now?

Contact Austral Risk Services immediately and we will make the process easy for you. See Claims for all the details you’ll need. We urge you to read this carefully so you comply with all your insurer’s information needs.

Why do we need to pay an excess?

Most policies are subject to an excess – this is the amount you (being the Insured) have to contribute towards your claim.

Why are we at fault?

If your insurer is unable to recover costs back from a third party, you could be considered “at fault” for your claim. It is therefore critical you obtain all third party details (e.g. name, address, phone number, vehicle year/make/model/registration number and licence details) in the event of a motor vehicle accident.

Can we have a hire car while our vehicle is being repaired?

If you select the hire car option (in the event of an accident) with your policy, yes, you may have a hire car while your vehicle is undergoing repairs. Ask your broker about your policy details if you are unsure.

How much is our vehicle excess?

As your excess will depend on your individual or company circumstances, we ask you to please contact your Austral Risk Services broker to determine your exact excess amount.

Workers’ Compensation

Do I need to insure my subcontractors under my Workers’ Compensation policy?

Please speak to your Austral Risk Services broker about your specific Workers' Compensation needs. You can also refer to the relevant website for each state for comprehensive information: .
NSW – workcover.nsw.gov.au
NT – worksafe.nt.gov.au
QLD – worksafe.qld.gov.au
SA – workcover.com
Tasmania – workcover.tas.gov.au
Victoria – vwa.vic.gov.au
WA - workcover.wa.gov.au/employers/understanding-your-rights-obligations/covering-your-workers/contractors-subcontractors/

One of my employees has been injured – how do I make a Workers’ Compensation claim?

Contact Austral Risk Services to obtain the necessary workers' compensation claim forms and advice. A list of information can also be obtained here.


What is risk management?

Risk management is defined by the international risk management standard ISO 31000 as “coordinated activities to direct and control its activities with regard to risk”. It can be more broadly described as the culture, processes and structures that are directed towards realising potential opportunities while managing real or potential adverse effects.

Click here for information on Austral's risk management services.

Why manage risk?

Risk management enables an organisation to more confidently exploit opportunities, meet compliance requirements and protect its people, assets and reputation. It assists in the distinction between good luck and good management and bad luck and bad management.

What is the relationship between risk management and insurance?

The majority of risks in a business environment are not insurable. Identifying risk in the broader context enables Austral to design insurance programs which efficiently and cost effectively meet clients specific risk exposures.

How will having a risk management approach eliminate our business risk?

It is not possible nor desirable to eliminate all business risk. For a start, some risks are not identifiable. However, organisations which actively identify and manage risk in their activities are more likely to be better prepared to respond quickly when things go wrong.

We already manage our risks. How can you help us?

That is great and most businesses do manage risk in many ways. Austral can benchmark your risk management practices against industry best practice and assist you to integrate risk management with other processes such as compliance, incident management, business continuity planning and internal audit.

Please click here for more about our risk management services.

How can Austral assist our organisation with business risk?

Our first step is to speak with your senior management (CEO / Company Secretary / Business Owner etc) to determine your current level of risk management. This initial assessment places us in a position to present a proposal setting out how we can assist to support your risk management activities.

What is the cost of the initial assessment and any ongoing activity?

The initial discussions are at no cost to you. The cost of further activity depends on the advice required and the size and complexity of the organisation. We can say with every confidence that our scale of fees is extremely competitive and are agreed with our clients prior to the commencement of any activity.


Which insurers do you deal with?

We deal with a large number of local, interstate and overseas insurers. Austbrokers is one of the largest brokers in Australia and as a part of it, Austral can and will find the best insurer to suit your specific needs.

What is the difference between a broker and an agent?

An agent works on behalf of the insurer. We work on behalf of you.

What makes Austral different to other risk advisors and insurance brokers?

We believe Austral has a lot to offer your organisation. Find out more here.

What does QPIB stand for?

Qualified Practising Insurance Broker

What does ANZIIF stand for?

Australian and New Zealand Institute of Insurance and Finance

What does NIBA stand for?

National Insurance Brokers Association

Who are Austbrokers?

For all the details about Austbrokers, please click here. 


How do we make a claim?

Contact Austral immediately and we will make the claims process easy for you. See our Claims section here for all the details you’ll need. We urge you to read this carefully so you comply with all your insurer’s information needs.

Why do we need to pay an Excess?

Most policies are subject to an excess – this is the amount you (being the Insured) have to contribute towards your claim.

Can we go ahead and have our vehicle/building repaired or do we need to get permission?

If you need to make a property safe and mitigate the possibility of further loss, then the insurer will allow you to do so. Please contact Austral Risk Services for initial advice where possible.

New clients - Starting with Austral

When are we covered from?

As soon as we have the required details and you instruct Austral to place cover on your behalf.

Can you send me Certificates of Currency?

Yes of course, these can be provided.

How long do I have to pay my insurance?

Our payment terms are 14 days.

Can invoices/statements be emailed to me?

Yes they can – we offer a number of options for you to receive information from us.

Do we need to sign anything when we get insurance with Austral Risk Services?

Not always, however if a proposal form or declaration is required, we will request it.

How do we start dealing with Austral as my insurance is currently with a different broker?

Contact our office and ask to speak to one of our helpful brokers and we’ll arrange everything for you.

Can my insurance invoices be sent to my accountant?

Yes, if you (being the Insured) authorise us to do so.