Information

Risk Management

 

 Managing Risks is an essential part of any modern business.

Insurance is only one aspect of this (called Risk Transfer),

but there are many other ways including:

 

  • Loss Control - minimising the risk as much as reasonably and financially possible
  • Risk Avoidance - not becoming involved with such risks at all.
  • Risk Financing - provisioning funds to manage potential risks
  • Risk Transfer - transferring the risk away contractually such as using risk carriers such as insurers, or contractual conditions

Your insurer will appreciate you very much if you take risk management seriously

On this page, we intend to give some tips in other effective ways to manage many of the risks your business faces without necessarily utilising insurance protection.

Remember foresight is better than hindsight in preventing losses. To do this is to plan effectively and we can help you with this.

For now, think about the following risks and how you could manage them better:

Financial Risks to Business

Managing Risks to the Householder

 Managing Risks of Natural Disasters

Managing Workplace Risks

 Managing the Security to your Business

Managing Risks of Motor Vehicle Use

Man's influence on disasters

 

Managing Cyber Risks Try Zurich's Risk Management Health Check here

Global Risk Report 2014

What are the biggest risks concerning businesses in Australia?

ASIC's small business help and support

Latest News

Illegal or unsuitable cladding now a big issue

Why we have laws, regulations and Australian standards? Because some people just do the wrong thing all for the sake of making money. The cladding issue is the subject of 4 Corners program on the ABC.

We are already seeing Insurance policies now placing exclusion endorsements into their policies excluding and claims relating to illegal cladding. We are seeing Governments demanding Audits of all existing buildings above a certain height. There are accusations of Builders taking other short cuts such as on Wiring, Pipes and sprinkler systems. 

The question is, who is to blame? Who will take responsibility?

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Small business in NSW

Right after the NSW Government have reimposed Fire Service Levies, they have at least made an effort for small business. The government has announced it will abolish stamp duty on a number of policies taken out by a small business. This is an important change.

What is a small business? In order to gain the exemptions, the business must be a small business for Capital Gains Tax Purposes for the income year in which the insurance is effected or renewed. A small business for CGT purposes is: “an individual, partnership, company or trust that is carrying on a business, and has an aggregated turnover of less than $2 million.”

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