Entries by Andrew Silcox

6 Tips to Protect Your Business From a Cyber Attack

Large scale cyber attacks on multinational corporations including Ashley Madison, eBay, Target and Sony have dominated news headlines in the past 12 months. Awareness of cyber crime has increased, yet smaller businesses remain unprepared for such an occurrence as they assume it’s unlikely to happen to them. In reality, small to medium sized businesses are […]

37 Million Adulterers’ Data Exposed

37 Million Adulterers’ Online Dating Website Ashley Madison Becomes Latest Victim of Cyber Crime. On July 21st, news broke that Ashley Madison had been hacked, with the culprits obtaining personal records that were saved on the website’s systems. These records have since been released online, which has caused significant trauma for several of the website’s clients […]

GJ Insurance Successfully Negotiates Product Recall Case

One of our PSC Connect ARs, Greg Thomas of GJ Insurance Consulting, has demonstrated the benefits of having a broker by saving one of his clients over $100,000 when he represented them in a Product Recall claim that could have put them out of business. The Case Greg’s client is a small, not-for-profit company that […]

ASIC Orders Lenders to Improve the Marketing of Travel Insurance

As a result of pressure from the Australian Securities and Investments Commission (ASIC), a range of banks and credit card issuers nationwide have been forced to better disclose the terms and conditions of Travel Insurance policies marketed through rewards schemes. An increase in consumer complaints to the Financial Services Ombudsman regarding the terms of credit […]

NSW Storms Highlight Importance of Property Cover

The clean up across New South Wales is continuing after last month’s catastrophic storms, which affected thousands of homes and businesses across the state. The Insurance Council of Australia stated that insurance companies have received almost 30,000 claims to date, and expect this figure to rise; estimating damages payouts as a result of the storms […]

Most Businesses Significantly Underinsured for Cybercrime

According to the Ponemon Institute’s 2015 report ‘Global Cyber Impact’, 80% of companies worldwide are likely to suffer a data breach within the next 12 months – yet only 1 in 5 have a Cyber Liability policy in place. Surveying 2,243 company representatives across 37 countries, the report released startling conclusions for today’s business owners. […]

Tips for Managing Business Risk

Every type of business encounters some level of financial, legal or operational risk. The frequency and severity of these risks depend on the type of services or goods provided by the company, external factors including geography and the overall economy and the business’s use of risk management strategies. Businesses that adopt a risk-based approach to […]

Aviation Industry Vulnerable to Cyber Attack

On Sunday the 12th of April, Hobart International Airport became the latest victim of cybercrime when its website was infiltrated and defaced with a statement supporting the radical group, Islamic State. The airport’s website was shut down when police were made aware of the attack at around 3.30am on Sunday the 12th, and wasn’t back […]

The Seven Types of Small Business Insurance You Should Know About

As a small business owner, your business is your livelihood and something that should be protected.  You face a number of challenges on a daily basis, most of which are unpredictable and unpreventable. In some cases, events that occur result in damage to your assets, legal claims being made against you or injury to employees, […]

How an Insurance Broker Can Benefit Your Small Business

This year’s Vero SME Insurance Index has found the number of small businesses using brokers has dropped this year to just 44%.  The report attributes this decline to the increasing use of technology and digital platforms, where more and more companies are offering easy access to business insurance policies. Price-conscious business owners believe that by […]