Business Advisory - Insurance Masterclass

In a recent Masterclass, WBA Business Adviser Peter Newbound provided businesses in attendance with the information they need regarding business insurance.

A double glazing business learnt that sub-contractors and contractors should have their own Public Liability Insurance, and need to be named specifically in a businesses' policy wording if they are to be covered.  Professional Indemnity Insurance was discussed with a Accountant and Tax Adviser, the issue of insuring contractors was brought up again by a Technology Solutions company and a Business Coach was advised of the need to have Public Liability Insurance.

Commercial insurance is set to go up 4-5% and it is key that you have the correct insurance policies in place for your business.

Did you know...

- Wangara insurance policies for break ins are higher than most other places in WA, and sometimes businesses can be paying up to 20% more!

- IT Liability exists to cover businesses during internet and telephone drop outs or exchange blow outs

-  Using a broker means that your policy is more likely to be comprehensive and less likely to have as many get out clauses

- You can now get Cyber Liability cover - these days it is a case of when and not if you get hacked.  Affecting all industries, personal data, account details and information can be stolen no matter what security you have in place and there is insurance available to help you keep operating!

- You should be sending your contracts to your insurance broker too!  Lawyers look at Contract Law but your insurance broker can check the insurance implications too

- You should always check the exclusions in your policy wording

 

If you have any queries or concerns, contact 08 9206 3888 to be connected to Peter for a FREE consulation today - through our Business Advisory Program


 

 

 

 

 

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