business insurance

EV Charging Stations in Strata Buildings – Navigating Fire Safety from an Insurance and Design Perspective

With the rise of electric vehicles, strata owners have to adapt by incorporating EV charging stations in their buildings. This shift requires a profound reassessment of fire safety, particularly concerning EV batteries, which differ significantly from Internal Combustion Engine (ICE) vehicles. This article explores the evolving fire safety landscape in strata buildings equipped with EV charging stations, drawing insights from property insurance and the critical role of design professionals, shedding light on insurers' criteria in these specialised spaces.

business insurance

Double dispensing rules: what are the grounds for refusal?

Since the introduction of the 60-day prescription of PBS medicines in September, many patients can now receive twice the medication for the cost of a single prescription. From September 2024 this will apply to more than 300 medicines on the Pharmaceutical Benefits Scheme (PBS). While pharmacists’ opinions on the ‘double dispensing’ policy vary greatly, the expectation from both clients and prescribers is that prescriptions will be fulfilled.

business insurance

Managing Risks Associated with Short-Term Rentals in Strata Complexes

Up until the early 2000s, short-term lodging options were predominantly provided by hotel chains and commercial providers. However, the landscape has undergone a significant shift in recent years, with platforms like Airbnb, Stayz, AirKeeper, Made Comfy, and Hometime reshaping the industry. These platforms empower individuals to directly rent out their properties to consumers, offering a lucrative avenue for additional income. Yet, the venture of leasing strata properties for short-term stays brings unique risks for both lot owners and strata managers. This article explores the key exposures and offers practical insights to effectively address and minimize these challenges.

business insurance

Managing Psychosocial Hazards in the Workplace – Webinar key take-aways

In a series of three webinars together with Gilchrist Connell and Honan Employee Benefits last month, we explored the ongoing impacts of psychosocial hazards across the different lenses of Employment Law, Workers Compensation and Employee Benefits. With a specific focus on best practices and practical guidance in how to best manage your risks so you not only meet regulatory guidelines but also continue to provide a safe work environment for your employees. Here are the key take-aways from the sessions.

business insurance

Managing the risks associated with shareholder class actions: a review of the AMP settlement

Earlier this month, the Supreme Court of New South Wales approved the settlement of the AMP class action and appointed Maurice Blackburn as settlement administrator of the settlement distribution scheme. This was after an agreement between AMP Limited and its shareholder class action had been reached on 20 August 2023, for a sum of $110 million inclusive of costs. This article takes a closer look at how this class action unfolded and the risk solutions that could protect companies from these events.

business insurance

Why Discussing Domestic Building Insurance (DBI) is crucial this Christmas

While Christmas Day typically involves light-hearted conversations about holidays, books, and movies, as well as reflections on the past year and hopes for the New Year, we suggest adding a less festive but important topic to your household discussions this Christmas: Domestic Building Insurance (DBI).

business insurance

Ensuring a Secure Transition: Run-off Insurance and Warranties & Indemnity Insurance for Acquisitions

business insurance

Going Global? Ensure Your Business Insurance Is Too

If your business is planning to expand into new countries, there are many things to consider, and insurance can often slip down the list of priorities. Having the right insurance in place can enable you to grow with confidence, knowing you have consistent and robust coverage wherever you operate in the world. Jennifer Gray outlines ways you can structure your global insurance program, depending on your business’ exposures, regions, and preferences.

business insurance

Five eye-opening misconceptions about life insurance in superannuation funds

While 8 million out of the approximately 15 million Australians who hold superannuation accounts are covered by some form of life insurance within their superannuation, due to the standardised level of cover it is likely that many Australians are unknowingly underinsured. Tyler Scarce, Risk Advisor at Honan Life, explores common misconceptions about life insurance products and highlights the importance of understanding your personal risk exposures

business insurance

Experts with Edge | Chitra Sharma

At Honan, we’re big believers in growing an exceptional brand, business and reputation through exceptional people. People with market-leading expertise, proven results and a fierce commitment to serving their clients, but also people with creative, considered points of view and a willingness to share them. These are our challenger champions - the ones who progress, lead and succeed by doing things a little differently, delivering on promise, and proving their passion through outstanding performance. In this series, we get to know them a little better; picking their brains for exclusive industry/category insights, future predictions, and the secrets behind their success.