Professional Indemnity Insurance (PII) remains one of the keystones of risk management for professionals across Australia. Yet, misconceptions and lack of awareness can lead to inadequate coverage, leaving individuals and businesses vulnerable in a litigious environment. - read more
Professional indemnity insurance is an essential safeguard for practitioners and businesses that provide expert advice or services. This type of insurance helps to protect professionals against legal costs and claims for damages from an act, omission, or breach of professional duty in the course of their work. For Australian professionals, where litigation is increasingly common, it's a pivotal component of risk management. - read more
If you're an Australian consultant, you understand that your advice is a valuable commodity. But with that value comes responsibility, and a level of risk that you could be held liable if your guidance results in financial loss to a client. This is where professional indemnity insurance comes into play, serving as a vital shield, providing protection and peace of mind for both you and your clients. - read more
The landscape of work is changing in Australia, with more individuals embracing the flexibility and autonomy that freelancing offers. A significant surge in the freelance economy is a testament to this shift, as a myriad of professionals, from writers and designers to IT consultants, choose to offer their services independently. The burgeoning freelance community contributes not only to innovation but also to the country's economic vibrancy. - read more
Embarking on the entrepreneurial journey of running a small business comes with not only the thrill of potential success but also the specter of various risks. One of the most effective shields against the unforeseeable is small business insurance—a critical tool that safeguards your enterprise's financial health. In this section, we'll demystify the role insurance plays in protecting your small business and provide a brisk walkthrough of the different types of insurance options available. - read more
The professional services industry has undergone a significant transformation in recent years, largely due to the integration of digital technology into everyday business operations. From cloud computing to mobile applications, the digital landscape for professional practices has expanded, offering new avenues of efficiency and connectivity. - read more
Insurance serves as a cornerstone in the foundation of a thriving business, mitigating various risks that can surface in the unpredictable world of commerce. At its heart, business insurance is about safeguarding the company's financial stability. It provides a critical safety net, ensuring that a single event doesn't have the power to derail years of hard work. - read more
Indemnity insurance may sound like complex legalese, but at its core, it's a straightforward and crucial protection for businesses of all types and sizes. Simply put, it's a form of insurance that shields a business from bearing the full brunt of financial losses due to lawsuits or claims made against it. - read more
Professional indemnity insurance is an essential safeguard for practitioners and businesses that provide expert advice or services. This type of insurance helps to protect professionals against legal costs and claims for damages from an act, omission, or breach of professional duty in the course of their work. For Australian professionals, where litigation is increasingly common, it's a pivotal component of risk management. - read more
Starting a business is a thrilling venture, but it comes with its share of risks and uncertainties. One often underestimated aspect by many entrepreneurs is the need for adequate insurance, particularly, professional indemnity insurance. This type of insurance is crucial for protecting your start-up against potential financial liabilities resulting from errors, omissions, or professional negligence. - read more
Coalition Innovates with Advanced Cyber Reinsurance Services
Coalition Innovates with Advanced Cyber Reinsurance Services
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Cyber security leader Coalition has unveiled an innovative reinsurance intermediary, enhancing its offerings with sophisticated insights and capabilities in the cyber domain.
This initiative is underpinned by capacity providers, chiefly led by specialty insurance and reinsurance firm Aspen.
"Coalition Re represents a novel form of reinsurance entity, empowering carriers with profound insights into the cyber risks within their portfolios, transcending beyond mere capacity addition," stated Coalition’s head of insurance, Shawn Ram.
Coalition explains that Coalition Re leverages a detailed bottom-up approach to precisely price non-proportional reinsurance contracts. This enables cedents to acquire a deeper understanding of their cyber policyholders and identify critical risk sources within their portfolios.
In addition, the platform offers an all-encompassing, white-labelled product suite that includes risk mitigation tools and services, currently accessible solely to Coalition’s standalone Active Cyber Insurance policyholders.
Coalition emphasizes that active insurance provides comprehensive support to underlying policyholders before, during, and after a cyber incident, contrasting with traditional policies that lack risk mitigation and response elements.
Aspen’s head of cyber, Bobby Bianconi, highlighted that the Coalition Re solution brings essential clarity to the increasingly complex arena of cyber risk management. “We anticipate a substantial opportunity with this new capacity and the unique cyber risk insights that accompany it. Coalition is exceptionally positioned to deliver these valuable services to cedants,” he affirmed.
Content derived from Coalition’s recent announcement emphasizes the critical need for advanced cyber risk solutions in an era of escalating digital threats.
The federal government’s recent move to prohibit the usage of genetic test outcomes in life insurance underwriting has garnered substantial endorsement from various sectors. - read more
Recent data published by the Actuaries Institute indicates a surge in financial strain among Australian households brought about by climbing home insurance premiums. Remarkably, a staggering 1.6 million households are now feeling the pressure, marking a 30% increase over the last year, equivalent to an additional 360,000 households. - read more
Swiss Re has reported a significant surge in net income, reaching $US2.1 billion ($3.09 billion) for the first half of 2024. This impressive performance has been largely attributed to favorable factors including reduced natural catastrophe claims, robust investment earnings, and strategic underwriting approaches. - read more
The rapid evolution of automobile technology, particularly in autonomous vehicles, is poised to reshape the insurance landscape significantly, according to insights from Howden Re. Reinsurers need to anticipate a more complex claims environment that requires advanced strategies to effectively manage the potential complexities. - read more
Cyber security leader Coalition has unveiled an innovative reinsurance intermediary, enhancing its offerings with sophisticated insights and capabilities in the cyber domain. - read more
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