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General Insurance

COMMERCIAL RISKS

Property

Commercial property is covered as part of a standard business pack or office insurance policy.  You are covered against fire and specified perils, as well as burglary and malicious damage.

Liability

Public Liability covers payouts, awards, legal fees and other expenses made against you by a third party as a result of a negligent action, resulting in personal injury or property damage to their property caused by you or your business.

Industrial Special Risks (ISR)

An Industrial Special Risks (ISR) policy provides additional benefits over and above the standard business insurance policy coverage.  ISR policies are ideal for larger and more complex risks with asset values generally in excess of $10 million and multiple locations.

Machinery Breakdown

Generally, the machinery breakdown section / policy will provide cover for breakdown of the motors in machinery.  It can be extended to include consequential loss, fire and perils, accidental damage and theft.

Marine Insurance

“Marine” covers cargo and goods whilst in transit, to and from Australia as well as within Australia.  Also included under the marine insurance banner are marina operators, ship repairers and associated liabilities.

Pleasure Craft and Commercial Hull

This insurance provides protection for many aspects of marine-associated activity, from jet-skis, ski-boats and pleasure craft to commercial charter vessels and fishing trawlers.

Motor and Motor Fleet

Motor policies and Motor Fleet policies provide coverage for vehicles, drivers and companies.  Motor fleet policies are usually for 12 or more cars, and can be varied to take into account more complex issues such as the transportation of hazardous goods.

Business Interruption

As a section of a standard business policy or Section 2 of an ISR policy, this product covers consequential loss of profits and expenses as a result of a loss under the fire and specified perils section of the policy.  It can be extended to include extra costs, for example relocation and lease of temporary premises whilst yours is being repaired or rebuilt.

Tax Audit

This policy covers the professional costs associated with you or your company being audited by the Australian Taxation Office.

Strata Insurance

Body Corporate Strata Plan insurance can include cover for material damage to building and common contents, volunteer personal accident, office bearers’ liability, machinery, fidelity, legal liability for the building and common areas of a Strata Title property.

PROFESSIONAL RISKS

Directors and Officers Liability

Directors and Officers Liability Insurance is designed to protect the personal assets of directors and officers by providing indemnity for loss arising from a claim as a result of a 'wrongful act' committed by them in the course of performing their duties.

Being sued can be a traumatic and expensive experience and can put your personal assets at risk.  The increasingly litigious nature of our society, along with increasing corporate governance and regulatory surveillance, places great pressure on company directors and officers to perform meticulously.  It is prudent to ensure that you have adequate cover.

Professional Indemnity

Professional Indemnity provides protection for the advice that you, as a professional, provide to a client.  If negligent advice is given to a client and this results in a financial loss to the client, compensation may be sought.  Professional indemnity insurance will cover legal expenses and awards made as a result.

Employment Practices Liability

Actions taken by employees against employers for work related issues including but not limited to alleged discrimination, unfair dismissal and sexual or workplace harassment are increasing.

Employment Practices Liability Insurance is designed to assist employers to reduce the cost exposure and will cover legal expenses and any award as a result of action against the employer brought by an employee.

Information Technology Liability

Like other professionals who provide advice and/or services of a skilful character, IT consultants can be liable for a mistake or failure that causes a third party to suffer a financial loss.

Information Technology Liability Packages are specifically designed to provide IT professionals with protection against claims for damages that may be made against them as a result of their work.

Due to the nature of the information technology sector, IT policies provide a combined professional indemnity and broadform liability package to cover the “grey” area of what is considered to be a product and what is advice.

Associations & Non-Profit Organisations Liability Packages

Associations, non-profit organisations and their officers may also be confronted by expensive litigation.  Insurance cover to protect against this risk is considered by many to be essential.

The Associations & Non-Profit Organisations Liability Packages are designed to protect both the assets of associations and non-profit organisations and the assets of their officers.

Protection against Risk for Commercial Clients

McKenzie Ross is able to offer terms for the following insurances when taken with other commercial insurances:

Home and Contents

With separate levels of cover available in both Accidental Damage policies and Listed Events policies, you don’t have to pay for cover you don’t need.  Home and contents policies can also cover specific valuable items such as a diamond engagement ring in the event of a loss.

Water Craft

From ski boats and fishing boats to jet skis and canoes there is an appropriate cover available for your craft.  With additions such as water skiers’ liability and lay-up periods available, the policy can be tailored to suit your needs.

Landlords Residential Property Insurance

Insuring properties which you own but don’t live in can be a complicated business.  To make it simpler, we can find a policy specifically designed to protect your investment property.  Landlords Insurance covers flats, units, apartments and houses which are leased or rented to tenants.

Travel

Travel insurance and Business Travel insurance policies provide protection for nominated individuals while travelling.  They help cover the costs of unforeseen events such as medical problems, loss or damage to luggage, travel cancellations and liability.