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: At the crux is understanding the cost of and whether you would be able to fund the costs of legal action due to […]
Know the Liabilities in Offering Professional Services
Professional liability insurance – also known as professional indemnity cover – may not be compulsory for your sector. But it could be an investment in risk management worth considering. This cover offers protection against legal costs for businesses that give advice or services for a fee. Typically, accountants, architects, IT specialists, marketing consultants, lawyers, bankers, […]
Lest We Forget
On this day, we honour and remember the brave men and women who have served and continue to serve countries around the world.
Using Generative AI in your Business? Risks & Opportunities
It’s less than a year since OpenAI released its (general) artificial intelligence (AI) app, ChatGPT. Since then, it and its alternatives, have transformed how we do business. Such tech is known as generative AI, a form of machine learning. Trained on a vast database of natural language, it can create content, such as text, code, audio, images, […]
Why a Risk Multiplier Mindset is Good for Your Business
Did you only focus on individual risk factors when you last undertook a risk management matrix for your SME? That’s OK, but the 2023 BDO Global Risk Landscape Report suggests widening your vista to the links between risks. BDO is one of the world’s largest auditing and accounting organisations and operates across Australia. This article explains why you should […]
“Ignore, delete and block”: Australians urged to be on alert
Australian regulators and agencies have warned Australian taxpayers to be extra vigilant during tax time this year and to be on alert for dodgy end-of-financial-year (EOFY) scams, with scammers likely to take advantage of Australians who are submitting tax returns or waiting for the outcome of an assessment. The Australian Communications and Media Authority (ACMA) […]
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 […]
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