Entries by Andrew Silcox

How Insurance Fraud Can Impact Your Business

Insurance fraud is estimated to cost up to $2.2 billion every year. Many consumers ignore these figures, assuming that insurance fraud only affects the big insurance companies. The truth, however is that insurance fraud directly impacts the premiums for honest policyholders. In order to remain profitable, insurers have to pass the costs that they lose […]

Is Your Business Underinsured?

1 in 10 Australian small businesses with insurance don’t have enough cover to protect themselves. Many Australian businesses are underinsured, which gives them a false sense of security and leaves them exposed to potential risks in case of an incident. Business owners and companies who become complacent with their insurance often don’t seek professional advice. […]

Ways to Reduce Your Business Insurance Costs this Year

The Australian insurance market is starting to enter the ‘hardening’ phase.  This means many business owners can expect more expensive premiums, higher excesses and more narrow coverage. While there’s not much you can do to stop the hardening market, there are certain steps you can take to ensure the market hardening has less of an […]

The Evolving Threat of Cyber Crime: Is Your Business Next?

In the past year, the number of reported Cyber attacks have damaged more networks and exposed more consumer data than ever before. While there are certainly more attacks occurring year on year, more stringent laws have been put in to place that mean greater transparency is necessary when a breach does occur. This has meant […]

Managing Your Business Risk In 2019

The recently released Allianz Risk Barometer report identified ‘Changes in Legislation and Regulation’ to be the top risk for Australian businesses in 2019.  According to the report, this year companies are most concerned about increasing legislation and more onerous compliance process. The statistics released in the report were as follows: Respondents rated ‘Changes in Legislation […]

Royal Commission Highlights Need for Quality Financial Advice

The Royal Commission into misconduct in the Banking, Superannuation and Financial Services Industry uncovered disgraceful behaviour from some of the biggest names in these industries. The findings of the Commission created fallout from scorned clients, and sparked conversations across the industries about moving forward.  The MetLife Adviser-Client Relationship Report (2018) looked into how the Commission […]

Are Your Social Media Channels a Professional Indemnity Risk?

According to the Sensis Social Media Marketing Report (2018), 79% of Australians are on social media, with 47% of small businesses, 49% of medium businesses, and 60% of large businesses having a social media presence. Social media is becoming an increasingly common way for businesses to promote their products and services to clients and potential […]

Are Your Employees Protected from Natural Disasters?

If your business is not prepared when disaster strikes, your company, reputation, and employees can all suffer. It is the job of business owners to look forward and identify the best ways to grow and accelerate.  Your business will not grow without a dedicated and reliable team of staff behind you, so it is vital […]

5 Questions You Should Ask Your Insurance Broker

Insurance is one of the most important investments you can make for your business. When purchasing a policy it is important that you are getting adequate protection, otherwise you are potentially putting your business at risk. The best way to make sure you getting the right cover is to ask your insurance broker the right […]