One of our roles as a General Insurance Advisor is to highlight areas where you may have an exposure to loss.

This is a list of Insurances that are available. This list is not exhaustive and does not include all types of policies available in the various insurance markets. Availability of some classes may be subject to market conditions at the time.

For ease of reference we have split the list into 4 headings for you:-
 

Asset Risks Protection
	Aviation Hull - Loss of or damage to aircraft and related equipment
	Boiler Explosion - Damage to registered boilers by explosion, overheating, collapse
	Burglary - Theft of property following forcible and violent entry to premises
	Contract Works - Loss or damage to the project during construction
	Contractors' Plant & Machinery - Loss or damage to unregistered mobile plant, drilling rigs etc
	Corporate Travel - Costs following accident or illness whilst travelling
	Crop - Fire or hail damage to cash crops
	Electronic Equipment - Material damage and loss of data following breakdown or malfunction
	Extended Warranty - Extensions to warranty periods of products
	Fire and Perils - Damage to fixed assets caused by a range of nominated risks
	Glass - Damage to fixed glass
	Householders - Loss or damage to residential premises and their contents
	Industrial Special Risks - Fire and Perils and Accidental Damage to fixed assets
	Jewellers Block - Loss or damage to stock of precious metals and gems
	Livestock and Bloodstock - Loss following death or loss of use of valuable animals
	Machinery Breakdown - Cost to repair following mechanical or electrical breakdown of plant and equipment
	Marine Builders Risk - Loss of damage to vessels during construction, testing and commissioning and delivery
	Marine Cargo - Damage to goods while in transit
	Marine Hull - Damage to private and commercial vessels and related equipment
	Motor - Loss or damage to registered vehicles
	Personal Valuables - Loss or damage to jewellery, works of art and other valuables
	Political Risks - Expropriation of overseas assets by Governments or local authorities
Income and Other Financial Exposures
	Accounts Receivable - Loss due to irrecoverable debts following destruction or theft of debtors records
	Advance Consequential Loss - Loss of future earnings and increased expenses following delayed completion of a project caused by damage
	Bonds Performance Guarantees - An alternative to bank guarantees
	Business Interruption - Loss of income and increased expenses due to damage of fixed assets
	Cancellation and Abandonment - Cover is provided for loss of income and additional expenses incurred due to occurrences such as adverse weather conditions or non appearance of performers for many reasons, including death or illness
	Commercial Legal Expenses - The reimbursement of legal costs in either defending or pursing legal action in areas of contract, employment, criminal, property, patent and copy write, motor and trade practices (both civil and statutory)
	Computer Breakdown - Profits Loss of income and increased expenses following mechanical and electronic breakdown of computer equipment
	Computer Crime - Loss of funds following tampering with computer systems
	Credit Insurance - This provides protection for insured debts following insolvency of a debtor and can be tailored to cover any single or group of specific debtors or a blanket cover over all debtors
	Export Credit - Provides exporters with cover for default by customers or default due to political interference
	Fidelity Guarantee - Losses due to the dishonesty of employees
	Intellectual Property - Legal expenses incurred to defend patent, trademark, copyright etc
	Kidnap, Ransom and Extortion - Monies paid following kidnap of staff or family or threats of damage to assets
	Machinery Breakdown Profits Increased - Loss of income and expenses following breakdown of key plant and equipment
	Marine Profits - Loss of income and increased expenses following marine transit material damage claims
	Money - Loss or damage to cash, cheques, negotiable instruments
	Product Tamper - Loss of net profit, recall and other expenses following product tampering
	Strike - Additional expenses incurred following labour disturbances
	Takeover Defence - Expenses to successfully defend a takeover of a public company
	Audit and Investigation - Expenses due to unexpected audits required by any statutory body, including the Australian Tax Office
Liability Risks and Exposures
	Airport Operators - Bodily injury and property damage arising from the operation of a licensed airport
	Association Liability - This provides indemnity to those who hold positions on management committees incorporated organisations against negligent acts, errors or omissions
	Defamation - Damages following libel and slander
	Directors and Officers Liability - Insurers the legal liability of Directors and Officers of a company arising from wrongful acts (including defence costs but excluding fines and penalties), carried out in the course of their business activities. The policy may insure claims arising pursuant to the Trade Practices Act 1974 and Fair Trading and similar consumer protection legislation, breach of contract (other then professional services or advice) libel and slander and infringement of copyright, trademarks designs or patents.  The policy does not insure the “Company” other than reimbursement of any loss, which the Company may be required to reimburse to an Officer of the Company under the articles of the Company.
	Employment Practices Liability - Businesses are exposed to many varied liabilities which, may flow from employees who are discriminated against, eg. Wrongful dismissal, sexual harassment.
	Extra Territorial Workers' Compensation - For employees working interstate or overseas
	Environmental Impairment Liability - Bodily injury and property damage following gradual pollution
	Professional Indemnity or Errors and Omissions - Liability for negligent services performed or advice given to clients
	Forged Transfers - Damages and expenses following negligence in share registry
	Marine Liability - Bodily injury and property damage arising from - Operation of vessels - Carriers liability - Ship-repair activities - Charterers liability - Container liability - Stevedore liability
	Motor - CTP - Bodily injury arising from registered vehicles (separate insurance not applicable in Western Australia)
	Product recall Expenses - Expenses incurred in the recall of defective products
	Professional Indemnity - Individuals or companies providing professional advice to the public are exposed to actions against them for damages for breaches of professional duty they owe to a client.  Professional Indemnity insurance protects against negligent acts, errors or omissions.  It is also possible to effect a Professional Indemnity ‘Civil Liability’ policy which provides a broader form of protection than the basic Professional Indemnity policy.
	Broadform Public & Product - Bodily injury and property damage arising from business
	Liability - Activities and from products manufactured, imported and sold
	Trustees Liability - Damages following mismanagement of superannuation funds by trustees
	Umbrella Liability - Provides cover in excess of standard Broadform Liability policies, including Motor Third Party, but also provides blanket cover for many areas excluded by those policies
	Workers Compensation - Each state of Australia requires employers of labour to effect a policy of insurance to protect their liabilities as set out in each Workers Compensation Act.  Each employer who has employees visiting or working in another State other than the State of domicile should have a policy in the State visited.
People Exposures and Protection
As we are not authorised to advise you about, or arrange life insurance on your behalf, this part of the policy checklist is provided for information purposes only. If you would like advice about your life insurance needs, we recommend you consult Andrew Brennan of Great Southern Financial Services via email ab_gsfs@icr.com.au.
	Group Life Cover - Provides a group of people with cover for death or disability at much lower rates than can be provided individually
	Consumer Credit - Personal Accident and unemployment insurance to protect finance loans
	Journey Cover - Injury to employees solely and directly occurring whilst in direct travel to and from work. (Important cover in States where there is no cover under Workers Compensation eg WA)
	Key Man - Financial loss following death or disablement of key personnel
	Loss of Licence - Lost income when an income producing licence cannot be maintained as a consequence of disability
	Major Trauma Cover - Provides a lump sum of money following diagnosis of specified major personal health conditions
	Partnership and Shareholder Protection - This provides a package designed to protect the surviving shareholders in the event of the death or disability of a principal
	Personal Accident and Illness - Death or disability following an accident or illness (Cancellable contract)
	Income Protection - This can provide cover in the event a person is unable to follow their chosen occupation (A non-cancellable contract)
	Salary Continuance - This provides cover for continuation of employees' salaries after sick leave has been exhausted
	Travel and Expatriate Cover - Medical and repatriation expenses following injury or illness while travelling or working overs seas
Other Terms of Interest
	CLAIMS MADE/CLAIMS OCCURRING/CLAIMS MANIFESTING - Various methods are used by Insurers to try and identify the ‘trigger’ under which the policy will operate.  These ‘triggers’ are in all policies of insurance and they are critical in liability type policies.  It is very important for an insured party to understand the implications of these ‘triggers’.
	CO-INSURANCE/AVERAGE - A penalty clause contained within a policy that requires the insured to bear a proportion of a loss when the sum insured or asset value is not equivalent to the actual value of the insured asset, ic. Under Insurance.  Some types of policies allow a certain amount of under insurance before the penalty clause operates
	EXCESS/DEDUCTIBLE - The amount insured has to bear for each and every claim
	EXTRA COST OF REINSTATEMENT - Additional costs that may be imposed by changed in Government or Council regulations which were not in force when the original asset was built or made
	FIRE SERVICES LEVY - A separate charge made by Insurers on certain classes of business that reflects the amount of costs imposed by Governments on Insurers for contribution to the funding of fire brigades.  Each State and Territory in Australia has varying charges applied
	INDEMNITY VALUE - The value of an asset after allowing for depreciation for age and wear and tear
	INDUSTRIAL SPECIAL RISKS - This specialised policy is designed to insure major business enterprises with total insurable assets usually in excess of $3 million and is tailored to meet the individual need of the client The policy protects against accidental physical loss or damage to the asset
	INSURANCE BROKERS DISPUTES RESOLUTION FACILITY - An independent body that can be utilised by an insured to settle disputes between the Broker and the client in respect of clients dealings with a Broker.  Financial limits apply of $50 000 unless otherwise agreed to. Refer to our Memberships
	MORTGAGEE PROTECTION - Two forms of coverage are insurable:- - To protect the Mortgagee for financial loss which arises out of default in repayment of monies owing to the Mortgagee - This form of cover is required by major lenders and the policy is arranged by the lender but paid for by the Mortgagor - To protect the Mortgagee if the Mortgagor does not carry damage insurance on the property upon which the Mortgagee has advanced money A common example is in respect on money advanced on Strata Title units.  The policy is usually arranged and paid for by the Mortgagor
	PLUVIOUS - Insurers the loss that results from excessive rainfall at a specified time and place.  Usually effected on specific events
	PREMIUM FUNDING - A method whereby a Financier pays the insurance premium on behalf of an insured and recoups the outlay by monthly installment  payments form the insured.  The repayment would include an interest charge for the facility
	REPLACEMENT/REINSTATEMENT VALUE - The cost of replacing/reinstating the asset to a new condition of similar size and type without deduction for depreciation
	SUBROGATION - The legal right that Insurers have to stand in the place of an insured when the Insurer takes action against a third party to recover any monies the Insurer has paid out under the policy
	CROSS LIABILITY - A clause sometimes included in Public Liability policies which allows joint insured's to take action against each other and still obtain the benefit of the policy to protect each party as had a separate policy