Cyber security is a top risk management concern for Australian businesses, with eight in 10 organisations hit by ransomware. And research shows small businesses are likely to have poor security practices due to common misconceptions about the threat. It is such a hot issue that the Federal Government appointed the first Minister for Cyber Security in a G20 […]
Is This the Return of High-Rise Construction Insurance?
There is a deluge of legal and insurance claims from ownership’ corporations and individual apartment owners about high-rise construction defects. A UNSW City Futures Research Centre report found defects in 85% of apartments built since 2000. In the firing line are builders and contractors. Negotiating early and rectifying defects promptly, where possible, is a prudent approach to […]
Insurance Premiums for Farms Are Rising: How To Save
On average, farm cash income experienced a 7% drop in 2022-23, according to ABARES. So, when insurance premiums rise 20% to 40%, as is happening in some parts of Australia in recent times, farmers might think more carefully about their risk management approach. But before you hit ‘cancel’ on your insurance policies, check out these tips […]
How do you Manage these Top 4 Hospitality Business Risks?
The past three years have been a whirlwind for hospitality businesses. While the pandemic seems to be on the wane, your business should still do everything reasonably practicable to reduce the risks of COVID-19’s spread, like keeping up to date on employers’ responsibilities via this Safe Work Australia website. Other, more inherent risks remain, though. […]
Australian drivers take risks to avoid wildlife collisions
Around half of Australians have collided with wildlife while driving, and 61% would resort to risky tactics to avoid hitting an animal, according to Suncorp Group (Suncorp) insurer AAMI’s latest research. The report analysed more than 17,000 AAMI animal collision claims across Australia between January 1 and December 31, 2022. It found that one in […]
Property risks warning: Don’t forget bushfires!
Australia could be going from “constant flooding to the real risk of bushfires,” says risk engineerProperty risks warning: Don’t forget bushfires! After last year’s incredible run of serious flooding, bushfire risk management plans may not be front and centre right now for insurance brokers and their customers’ properties. However, FM Global Australia’s Mike Hunneyball (pictured […]
Selling Yourself Short? Why You Should Avoid Underinsurance
Is your small business among the one in four that say they’ll go under if faced with a liability claim? That’s the alarming statistic from one insurer’s survey. More respondents said they would: .Lose clients .Expect less revenue .Have cash flow woes. At the crux is understanding the cost of and whether you would be […]
Rubbish collection in space
Space sweeper designed to vacuum up satellite debris An Adelaide-based startup is developing a trash compacting solution to help clear space debris. The space industry – and space junk – is booming, literally. Every year, a handful of satellites inexplicably explode, slowly filling heavily trafficked space lanes with deadly debris. The International Space Station has […]
May their spirit live on in us and in generations to come
There is music in the midst of desolation, And glory that shines upon our tears. For the Fallen – Laurence Binyon, 1914
How to handle a cyberattack
Latitude Holdings is the latest Australian company to experience a devasting cyberattack. The financial services company revealed that the personal information of 7.9 million customers has been stolen. Back in January, it was Australian property developer and construction company Meriton who experienced a cyberattack — and the list of companies doesn’t stop there. Optus, Medibank […]
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