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Electrical Contractor Insurance: What Cover Do You Need?

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Due to the specialised nature of your work, electricians are always in demand. An essential part of running your business as an electrician is ensuring that you have the right level of insurance cover in place. As the trade insurance experts, GSK Insurance Brokers are here to share what you need to know about insurance for electricians. Why do electricians need insurance? Insurance provides you with the confident that you’re protected financially when things go wrong. For electricians, the nature of your work means there is a higher risk of things going wrong compared to other professions and insurance is essential. Most employers will not take you on as a contractors without proof of public liability insurance and you won’t be able to enter some worksites without it. If you’re an electrician in Queensland, you must have public liability insurance in place as well as additional consumer protection insurance.   What forms of cover you electricians need? There are
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Why Should You Consider Using An Insurance Broker?

When you’re running a business, anything that makes life a little easier is a good thing and that’s exactly what your insurance broker offers. Insurance brokers are industry experts who have the knowledge and qualifications to navigate the insurance landscape on your behalf in the interest of you and your business. Today, we’re looking at some of the reasons that you should consider using an insurance broker. Advantages of Using An Insurance Broker Thorough risk analysis – an insurance broker has the necessary experience to take a close look at your business and  carry out a thorough risk analysis to identify your areas of risk. Once your unique needs have been identified, your broker will be able to tailor an insurance package which covers these risks.  Saves your business time – your insurance broker will save you time by comparing a number of different insurance policies to find the best product for your business. Your broker isn’t tied to just one insurer whi
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Why Would an Online Operation Need Business Insurance?

As business insurance brokers , we have noticed that a number of our new clients have little in the way of a physical presence. When business owners think about business insurance, they might focus purely on mitigating risk for physical building or inventory. However, insurance is vital to cover other less tangible assets, and we will demonstrate this by taking a look at a typical online store operation. Online Store Risks If you run an online store, it’s unlikely that you have a physical shopfront to worry about and if you did you wouldn’t hesitate to get business insurance. However, the risks to your online store and your clients may be less obvious in an online operation, but they are still there. Let’s take a look at the four primary risks related to an online store that you need to mitigate with insurance. 1. Products If you sell a product that harms a person or in extreme circumstance even causes a fatality, your entire business operation is at risk. This is a
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How to Reduce Your Commercial Insurance Costs

Higher excesses, increasing premiums and narrower coverage have become a reality for many businesses in Australia. Australian businesses have enjoyed a softer insurance market for some years, but a change is on the horizon. Fortunately, there are some ways that small to medium businesses can prepare for a harder commercial insurance market. Understanding the Differences Between a Soft and Hard Insurance Market The nature of the insurance market is driven by availability. If there is lots of capital entering the market, it is easier to obtain cover as insurers chase business. A softer market translates to lower commercial property insurance premiums, broader coverage, narrow exclusions, discounts, and smaller excesses. On the other hand, a hard market occurs when there is a decreased availability. This drives lower policy limits, wider exclusions, bigger excesses, higher premiums, and narrower policy coverage. Unfortunately, certain parts of the insurance market in Au
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Insurance Broker Tips to Reduce Your Rate of Employee Theft

According to insurance broker data, within the retail sector, more than 40 percent of shrinkage costs can be attributed to internal theft. According to the Australian Retailers Association Executive Director, Russell Zimmerman, internal theft is often more sophisticated, is more difficult to detect and has a greater financial impact compared to external theft. As an experienced insurance agent in Perth , we have compiled some advice to help you reduce your rate of employee theft. Recruit and Retain a Reliable Staff The most effective way to prevent or significantly limit internal theft is to recruit and retain a reliable staff. Failing to do reference checks or interview comprehensively is a sure way to recruit team members with a history of theft. This leaves the fault firmly in the hands of the employer. While this level of recruitment will require a bit of homework, the payoff is worth it. At a minimum, be sure to conduct comprehensive reference and background checks.
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Nursing Insurance: The Basics of Professional Indemnity for Nurses

Professional indemnity insurance is defined as a type of insurance which helps safeguard professional individuals and companies from suffering the comprehensive expenses of defending against a negligence claim made by a client or a patient. Among the fields which primarily need professional indemnity insurance is the nursing industry that is sometimes subject to the possibility of making errors. A nursing insurance policy enables nurses to simply perform their respective jobs without being anxious about the damages to their careers and finances should any mistakes happen. In 2009 alone, more than 10,000 in-hospital errors committed by nurses were reported, with 1100 of these cases resulting in death. In addition, global statistics show that in every 300 errors committed, one has eventually led into deaths. Among the primary reasons of nursing care errors include administering the wrong medication and providing incorrect advice to the patients as well as failing to carry out pa
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What Are The Roles Of Insurance Brokers And How Can You Benefit From Hiring Them?

Generally, insurance brokers are professional advisers which specialise in risk management and insurance. They act on behalf of their clients and provide them technical advice that can be important in making a claim on particular insurance. In other words, an insurance broker will help every business or individual determine the risks to help them manage risks and make well-informed decisions. Other than that, a broker can also assist their clients in finding the most appropriate cover for their own circumstances as all of them are familiar with terms and conditions as well as the costs and exclusions of specific insurance policies. In addition, the role of insurance brokers in Perth can extend to not only placing and classifying covers with the chosen insurers but also in providing advice to their clients on making the most of insurance covers and budget. Advantages of Hiring Perth Insurance Brokers In statistics gathered by ARPA, it showed that insurance brokers were r
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