Navigating El Niño: A Comprehensive Guide to Preparing Your Insurance in Australia

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Navigating El Niño: A Comprehensive Guide to Preparing Your Insurance in Australia

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As Australia’s climate continues to exhibit its characteristic variability, the threat of El Niño events looms large, underscoring the importance of being prepared. El Niño, a climatic phenomenon marked by warmer sea surface temperatures in the Pacific Ocean, can trigger a cascade of disruptive events, including droughts, heatwaves, and bushfires.

To safeguard your financial well-being and mitigate potential losses, it is crucial for Australians to proactively prepare their insurance coverage for the challenges posed by El Niño. In this article, Ausure provides a comprehensive guide to help you navigate this complex landscape and ensure that you and your assets are adequately protected.

Evaluate Your Existing Coverage

The first step in preparing your insurance for El Niño is to review your current coverage. Assess the extent to which your policies address risks associated with extreme weather events, such as droughts, water shortages, and bushfires. This may involve scrutinising your homeowners’ insurance, business insurance, agricultural coverage, and any other relevant policies. Make note of the exclusions, limitations, and deductibles that might apply during El Niño events.

Engage in a Dialogue with Your Insurer

Open communication with your insurance provider is paramount. Reach out to your local Ausure Broker to discuss your concerns and to better understand how your existing policies respond to El Niño-related risks. Seek clarification on policy terms, coverage limits, and any potential gaps that may leave you vulnerable in the event of a disaster. This dialogue can help you make informed decisions about adjusting your coverage.

Consider Specialised Coverage

Given the unique risks posed by El Niño, it’s worth exploring specialised insurance options that specifically address its impacts. Depending on your circumstances, you might consider the following:

Flood Insurance: El Niño can intensify rainfall and increase the risk of flooding. Standard homeowners’ insurance and business insurance typically does not cover flood damage, so obtaining a separate flood insurance policy can provide crucial protection.

Crop and Livestock Insurance: If you are a farmer or agribusiness owner, consider crop insurance and livestock coverage to safeguard against losses due to drought or other weather-related events.

Business Interruption Insurance: This coverage can help businesses cope with the financial challenges of disrupted operations during and after El Niño events.

Implement Mitigation Measures

Insurance providers often appreciate proactive efforts to mitigate risks. Taking steps to reduce your vulnerability can not only enhance your safety but also positively influence your insurance premiums.

Measures might include:

Home and Business Upgrades: Implement fire-resistant construction materials, clear vegetation around properties, and maintain firebreaks to minimize bushfire risk.

Water Management: Install water-saving devices, implement water conservation strategies, and explore rainwater harvesting systems to mitigate drought impacts.

Landscaping and Infrastructure: Ensure proper drainage systems to prevent flooding, and reinforce structures against potential damage.

Document Assets and Valuables

Maintain a comprehensive inventory of your assets and valuables, including photographs, receipts, and appraisals. In the event of a claim, having documented proof of your belongings will simplify the claims process and help ensure accurate compensation.

Regularly Review and Update

Insurance needs evolve over time, and El Niño events may have varying impacts. Regularly review and update your insurance policies to align with circumstances, property values, and risk tolerance changes.

El Niño events pose real and substantial risks to Australians across the nation. By proactively preparing your insurance coverage for these potential disruptions, you can secure peace of mind and financial protection for yourself, your family, and your assets. Engaging in open dialogue with your insurer, considering specialized coverage, implementing mitigation measures, and staying vigilant through regular reviews are all critical steps toward weathering the challenges of El Niño with confidence and resilience.

As Australia continues to adapt to a changing climate, a well-prepared insurance strategy can serve as a cornerstone of your comprehensive risk management approach.

Publicliabilitycomparison.com.au by Insure 247 Ausure Insurance Brokers Pty Ltd T/as Insure 247 Authorised Representative of Ausure Pty Ltd AFSL 238433. 
General Advice Warning: Please be aware that any advice that may have been given or implied is general advice only. We have not taken into consideration your individual needs, objectives or financial requirements. Before deciding to purchase a financial product, you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs. 

What is a Hot work policy exclusion on my public liability policy?

What is a Hot work policy exclusion on my public liability policy?

What is a hot work policy exclusion on my public liability policy?

A hot work policy exclusion on a public liability insurance policy in Australia is a clause that excludes coverage for any damage or liability arising from hot work activities. Hot work activities refer to any work involving heat or flame, such as welding, soldering, cutting, or brazing.

The exclusion means that if an incident or accident occurs during hot work activities and results in property damage, bodily injury, or any other liability, the insurance policy will not cover the damages or liability costs.

It’s important to note that hot work policy exclusions are common in public liability insurance policies in Australia and are typically included to reduce the insurer’s risk exposure to potentially high-risk activities. As such, businesses need to understand any policy exclusions and ensure that they have appropriate safety measures to mitigate any potential risks associated with hot work activities.

Does your occupation involve hot work?


If you do hot work like flame cutting, flame heating, arc or gas welding, metal grinding or any similar operation in which welding, metal grinding or cutting equipment is used, except where such use is carried out in strict compliance with all relevant statutes and Australian Standards 1674.1 and 1674.2 (or any subsequent amendments), resulting claims may be excluded.

How can you reduce liability arising from hot work activities?

You can take several steps to reduce the liability arising from hot work activities, including:

  • Conducting a risk assessment: Tradies should conduct a risk assessment before starting any hot work activities to identify potential hazards and implement appropriate safety measures.
  • Using appropriate personal protective equipment (PPE): Tradies should wear appropriate PPE, such as welding helmets, gloves, and protective clothing, to protect themselves from heat and flame.
  • Having a fire safety plan: Tradies should have a fire safety plan that outlines emergency procedures and evacuation routes in case of a fire or other emergency.
  • Properly training employees: All employees involved in hot work activities should be trained on safety procedures, including fire extinguishers and other safety equipment.
  • Maintaining equipment: Equipment used for hot work activities should be regularly inspected to ensure it is in good working order and doesn’t pose a safety hazard.
  • Ensuring adequate ventilation: Adequate ventilation is essential during hot work activities to prevent the buildup of combustible gases or fumes that could lead to a fire or explosion.
  • Obtaining appropriate insurance coverage: Tradies should ensure that they have appropriate insurance coverage, including public liability insurance, to protect themselves from liability in case of property damage or bodily injury arising from hot work activities.

By implementing these safety measures, Tradies can reduce the risk of liability arising from hot work activities and ensure a safe work environment for themselves and their employees.

Publicliabilitycomparison.com.au by Insure 247 Ausure Insurance Brokers Pty Ltd T/as Insure 247 Authorised Representative of Ausure Pty Ltd AFSL 238433. 
General Advice Warning: Please be aware that any advice that may have been given or implied is general advice only. We have not taken into consideration your individual needs, objectives or financial requirements. Before deciding to purchase a financial product, you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs. 

The chairs that could cost your business three hundred thousand dollars

Business discussions that could cost your business

Stephen Sloan insurance broker with Insure 247 urges businesses to consider that it's often the small things that can cost your business a lot of money.

could cost your business

In a recent case in the New South Wales District Court, Kmart Australia was  made to pay compensation when an $8 plastic domestic use only chair collapsed when I client sat on it.

Awarded more than $300,000

According to the SMH*

Ms Lewis suffered permanent damage to her lower back, right buttock, thigh, and knee among other injuries.

She was awarded more than $300,000 in damages.

In making her decision to award Ms Lewis the sum, Judge Gibson noted that Kmart had breached its duty of care.

"To keep the photo lab (and its income) flowing, Kmart and its staff allowed the development of a haphazard system of customers taking chairs for sale in other departments (itself a breach of store policy) for use in circumstances where those chairs were unsuitable to the point of being dangerous," she said.

"I am satisfied that the plaintiff has established breach of duty of care. The defendant's failure to provide adequate seating for its customers in the photo lab, training for its staff and regulation of equipment use all play a role in relation to the circumstances of the accident."

Public Liability Insurance Offers Protection

Broker Stephen Sloan explains "Public Liability Insurance cover can protect the business owner where it is found to be negligent. It will also offer some protection for the high legal cost of defending such events.

Going without public liability cover may save you money spent on premiums, however in the event of a claim that saving may cost you your business.

Does Your Business Have A Plan?

It is not that anyone at Kmart intended for the client to get hurt and at no stage did the management of Kmart have any actual involvement in the actions that lead to the injury, however, they do need a system for training for their staff and the regulation of equipment, does your business do that?

It's also worth considering a risk mitigation when purchasing items used by the public or your staff, consider the use and consider is it appropriate for the intended use.

More Information

Sole Trader To A Company Does my Policy Cover Me?

Consumer Protection Insurance

Sole Trader To A Company Does my Policy Cover Me?

If you are still unsure, talk to our team on 1300 046 787, to discuss your requirement.

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs

Source *Sydney Morning Herald

Can I get a monthly public liability insurance policy?

How do I get a monthly public liability insurance policy?

Steve Sloan, a broker with Insure 247 explains that a monthly public liability insurance policy is not a good option for the insurer or the insured;

“Most policies are created to protect a client during the insured period or if a claim arises from the insured activities within that period, if you take a short-term cover you may lose that protection.

Most insurers offer you an annual policy with cover for that annual period after the expiry date of the policy for unknown claims.

Business people who seek a short-term policy are generally seeking cover because they are being asked to get that cover by a head contractor as it is a condition of their insurance, or perhaps a government tender requires it. If you only take insurance for this period you run the risk of costly claim after you have finished the work and the head contractor can a most like will pursue your business for the debt. And let's be honest there are not many businesses that can afford a multi-million dollar claim.

let's be honest there are not many businesses that can afford a multi-million dollar claim

PUBLIC AND PRODUCTS LIABILITY INSURANCE COMPARED

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What is the alternative?

Most brokers and some direct insurers will, however, offer instalment options, sometimes through finance companies, these third parties generally make their money on the transaction by charging interest and dividing the total amount over monthly payments, this does not however mean you have a monthly policy.

If you cancel the policy, especially in the first few month, you can lose fees and charges that may result in a shortfall or for you to pay a larger some to cancel the policy. So before you enter into an instalment option check to see the cancellation fees, charges and total cost of the annual policy, but remember if you are planning to cancel you are doing so against the broker’s advice.

More information

https://publicliabilitycomparison.com.au/sole-trader-company-policy-cover/

https://publicliabilitycomparison.com.au/chairs-cost-your-business-three-hundred-thousand-dollars/

If you are still unsure, talk to our team on 1300 046 787, to discuss your requirement.

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs