Business Insurance - we focus on you

With increased competition and globalisation, a small local business is now expected to manage its operation in the same way as a large multi-national organization. Rather than employing a team of accountants and lawyers, small & medium businesses outsource certain roles to trained and qualified professionals to assist in managing their operation and securing their assets.

A qualified insurance broker is an essential asset to any small and medium business for many reasons.

At Insurance Solutions, we specialize in advising small & medium businesses and take the time to understand your business and the activities that are unique to your business. We fully understand that ‘one size does not fit all’ when it comes to insurance and we will tailor an insurance program that suits you.

We will listen to you and ask questions of your business operation to understand fully what risks require insurance coverage. Your business is confronted with many risks that, if not properly insured or managed, could have a devastating financial impact on your business and your personal assets.

How you assess and manage these risks will depend on the size of your business – for example, a large multi-national organization will treat certain risks differently than a local SME business.

Insurance for SME businesses can be divided into categories:

1. Assets & property – these are things that your business own or is responsible for such as buildings, plant & machinery, stock, equipment, motor vehicles and other physical assets.
2. Financial loss – if your assets & property were damaged or stolen, what would happen to the revenue of your business? It may completely cease for a period of time or be severely impacted which could place an enormous financial strain on your business. How would you manage this loss?
3. Liability – as a business proprietor, you have certain legal liabilities which may arise from:
   • injury to others or damage to their property
   • defective products
   • financial loss arising from faulty advice
   • employment-related activities (such as harassment in the workplace, discrimination, wrongful dismissal, etc)
   • OH&S issues
4. Personnel – what would you do if a key-person of your organization became seriously ill and was not able to perform his/her duties. What would happen to the performance of your business?

These are but a few of the contingencies that a business proprietor needs to identify, assess and treat to effectively manage the risks of your business.

We can help you in the process of risk management and insurance – call us today to discuss your business insurance requirements.