WA Business Insurance

Bucket list tick, visiting the home of Insurance- Lloyd’s of London tour with a work Colleagues. What an amazing history and buzzing workplace.

Yesterday’s insights of the Mclardy McShane broker PD day. Mental health claims continue to rise.Especially in the education and health care sectors. Good news is we are starting to see a softing market in premiums across most lines.

Flooding is costing the insurance Industry the most from natural causes.
To help - clear gutters regularly, remove pot plants from balconies especially away from drains, check your flexi hoses in bathroom they are not rusted and in good condition.

Happy 10th Birthday to us!
Thank you to all clients support over the past 10 years. Look forward to many more years too come 👌

Volunteering for Heartkids today…3 generations here!
Having congenital heart, this cause helps families and kids with congenital heart defects. Nice to give back especially at Christmas.

Halloween on our street last night. Record of 1500 lollies we gave out by 6pm! Great to see so many happy faces in the community. New addition was our mustang this year 🎃

Thanks for the new profile shots

Merry Christmas to all business owners,
it’s not all about the food and drink,
it’s getting a break off for a week!

Hope you all can enjoy a few days off relaxing and a well deserve break!

Cyber claims cost the Australian economy a staggering $33 billion during the last financial year — an increase of 13 per cent on the previous year. This amounts to a cyberattack being reported every eight minutes to the Australian Cyber Security Centre (ACSC).

To put this figure into perspective, the 2019–20 bushfires cost the insurance industry more than $6 billion, and the general insurance market in Australia was worth $53 billion in the past financial year, according to the June 2022 Australian Prudential Regulation Authority quarterly general insurance performance statistics.

At the same time, cyber premiums in Australia currently stand at only $200 million. This figure is less than one per cent of the total premium collected by insurers and less than one per cent of the cost of reported cyberattacks.
If you are thinking of getting cyber insurance, now is the time, before premiums spike

Cyber Insurance is a must, especially if you are taking clients confidential information. Claims costs have significantly risen over the past two years with more ransomware and phishing claims.

Claims have increased dramatically due to the pandemic with Management Liability especially with unfair dismissals and crime. With the average claim cost at $43,000 with average premium costing $3,000 a year. This is no longer for professional white collar workers, with majority claims occurring with construction and manufacturing industries. Something to look into getting, if you havnt already!

Why use a broker? This is another one of our advantages, we get discounted platforms to quote from. Over 120
Insurance companies and agencies to specifically custom to your business