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

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

Taking flight: why drone insurance is important for commercial use

The global market size of commercial drones is forecast to grow in the coming years. From capturing breathtaking footage to 3D mapping, product delivery, and use in construction and agriculture, Australia is embracing drone use. With the uptake of drones to support jobs across the economy, drone insurance or insurance for remotely piloted aircrafts (RPA) becomes essential for businesses. Chris Papakostas takes a closer look at why you should consider drone insurance and how to secure it.

business insurance

HoneIn FY24 Q1: Corporate Insurance Market Update

business insurance

HoneIn FY24 Q1: Global & Networks Market Update

business insurance

ASIC takes aim at boards and executives for cybersecurity failures

In an era where digitalisation has become synonymous with business operations, the threat landscape has evolved and cybersecurity has taken centre stage. The Australian Securities and Investments Commission (ASIC) is stepping up its efforts to hold boards and executives accountable for cybersecurity failures within their organisations, which was addressed by ASIC Chair Joe Longo at the Australian Financial Review Cyber Summit last month. This proactive approach is aimed at safeguarding not only corporate data but also shareholder value and public trust.

business insurance

Cyber ransom attacks: not paying a ransom won't solve cybercrime

This month marks the 20th anniversary of National Cyber Security Awareness Month and with cyber risk reaching unprecedented levels after a recent surge in high-profile attacks, particularly on Australian businesses, Ben Robinson, Placement Manager - Professional and Executive Risks, gives us some insights on why not paying a ransom won't solve this issue. With hackers running their operations like sophisticated businesses and constantly adapting their strategies for better returns, banning payments might harm Australian businesses and citizens more than it impacts the cyber-criminal groups, leading them to explore alternative tactics for financial gain.

business insurance

Claiming Success: Why Your Insurance Broker is the Key to Notifying Insurers About Potential Claims

When it comes to insurance, brokers are in a unique position. We’re neither the client nor the insurer, we’re privy to the unique notifications from clients when there is a situation that may give rise to a claim, and the reactions from insurers to those notifications. This is a complex and evolving area, and in the post-pandemic era, we’ve observed that insurers are scrutinising all aspects of the claims process. Following a loss, the claims process can be stressful, complex, and long. This article outlines the paradigm shift in insurer’s perception of an acceptable notification of circumstances which may give rise to a claim, from a broker’s perspective.

business insurance

Resurgence of the IPO Market: The Importance of Prospectus Liability Insurance

Despite a subdued start to Initial Public Offerings (IPOs) in the first half of 2023, the listing of the chip designer, Arm, on the Nasdaq, which surged 25% on its inaugural day and raised $7.6 billion could signal the reopening of the "IPO window" more broadly. As the market gains momentum, it is critical for entities to consider the role of protective instruments like Prospectus Liability Insurance to limit the impact of prospective claims, litigations, or fiscal implications associated with the IPO process. Dennis Moens explains how the insurance market is responding to create favourable conditions for entities.