As a valued client I thought you may like to receive a summary of our market assessment on what’s currently impacting insurance pricing in the Australian market. The recently released APRA (Australian Prudential Regulation Authority) June 2020 quarterly report showed insurance company profitability continuing to decrease.
Not-for-profit organisations carry unique yet significant risks, making it critical to get the right insurance cover. At Acacia Insurance, we know how difficult it can be to get the right insurance solution to meet the needs of your not-for-profit or charity organisation. That’s why we take the time to really get to know you and leverage our industry expertise and experience to help you protect the important work that you do.
On top of the considerations you have already made regarding your business and insurance due to the implications of COVID-19, now unfortunately you have increasing cyber risk to manage as well.
Cyber attacks have always been intentionally engineered to prey on people’s fears, concerns, and ultimately, their bank accounts. In the wake of the COVID-19 era, attacks remain as malicious as ever, with themed tactics tailored to the worries of today’s society. 43% of all cyberattacks target small businesses, taking various forms such as web-based attacks, phishing attacks and malicious codes. It's a disappointing reality that there are those who would take advantage of people during a global pandemic, but that doesn't mean there's nothing you can do to protect yourself and your business.
While Australia has been relatively protected from the spread of Corona Virus (COVID 19) many businesses have been disrupted due to social distancing requirements, travel, import and or export restrictions.
In response to some frequently asked questions we've received from clients, we wanted to help clarify how insurance responds (and in some cases doesn't respond) in the pandemic environment, as well as provide some resources and risk management considerations.
Acacia Insurance is part of the Insurance Advisernet network, and we're so pleased to note that the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has named Insurance Advisernet as the Authorised Representative Network of the Year for 2018!
Acacia Insurance is pleased to note that our Director, Martin van Rhoon, was recently interviewed for an Insurance Adviser magazine feature on not-for-profit insurance. In particular, van Rhoon highlighted that more than half of non-profit organisations do not have a risk management plan in place, and even fewer have a risk register.
So, you build a business, work six or seven days a week, long days, long nights for years on end – a journey your young family endures along with you. Why? Because you want to build the lifestyle you’ve always envisaged and to be able to give your kids something better than what you had.
Finally, you’re getting somewhere, you have a good business, a good lifestyle and your life’s plan is on track. So why then do so many business owners play Russian roulette with their survival?
With experience of advising clients on their insurance and risk over many years, we innately know the value of getting an insurance agent, broker or adviser to help you protect yourself and your business.
We have seen the peace of mind and benefit you get from having the right size insurance solution, and the right person to contact when things don't go to plan.
At Acacia Insurance, we're proud to be part of Insurance Advisernet.
Not only do our clients benefit from being part of our network, but so does the community!
You can check out a wide variety of ways that IA gets involved and gives back (there are a number of stories on their news page here), but one that recently caught our eye was the donation of a defibrillator to the Port Hacking Open Sailing Club.
We've seen countless headlines, both in Australia and overseas, about data breaches, human error and sensitive information leaks. As you may or may not have already heard, laws have been strengthened with amendments to our privacy legislation, which came into effect on 22 February 2018.