As your dedicated insurance representative, we’re constantly monitoring the insurance market to better understand and assess the trends with potential to affect your business. With this in mind, we wanted to share a summary of our updated market assessment on the factors currently impacting insurance pricing in Australia.
Acacia Insurance join Manly Waratahs District Cricket Club corporate family
Acacia Insurance & Risk Services is excited to join the Manly Warringah Waratahs corporate family as a club partner for the 2021/22 season.
The relationship has come about through our Director Mark Williams, himself an ex-Manly player and former 1st Grade Premiership winning wicket-keeper.
General insurance landscape – premium pricing and outlook
As your dedicated insurance representative, we’re constantly monitoring the insurance market to better understand and assess the trends with potential to affect your business. With this in mind, we wanted to share a summary of our updated market assessment on the factors currently impacting insurance pricing in Australia.
Update on the Design and Building Practitioners Act 2020
Acacia Insurance Director Mark Williams recently teamed up with MECON Insurance CEO Glenn Ross and Lander & Rogers Partner Charles Thornley regarding the Design and Building Practitioners Act 2020 (DBA Act) to provide a prospective from an insurance adviser, underwriter and lawyer. Originally published by NIBA, please find the article below.
General Insurance Landscape – Premium Pricing Outlook for 2021/22
As your dedicated insurance representative, we’re constantly monitoring the insurance market to better understand and assess the trends with potential to affect your business. With this in mind, we wanted to share a summary of our updated market assessment on the factors currently impacting insurance pricing in Australia. The recently released APRA (Australian Prudential Regulation Authority) quarterly report shows a significant decline in industry profitability for the 12 months to December 31, 2020.
Happy to support the Happy Days Cambodian Village School
Acacia Insurance was pleased to sponsor a hole and attend the Happy Days Cambodian Village School Charity Golf Day on 5 March. Happy Days Cambodian Village School is an Australian Not-for-Profit Organisation which raises funds for impoverished children in a rural area of Cambodia. Their objective is to give the children in the area an opportunity to break the poverty cycle by improving their living conditions and teaching them to make informed decisions about their future through the power of education.
The insurance implications of buying a business
An increase in mergers and acquisition (M&A) activity is one noticeable trend1 throughout the year of the pandemic (and forecasted to continue in the year ahead). At Acacia, we're frequently asked to advise clients on the insurance ramifications of acquiring a new business, both from the point of view of the acquiring entity and the business being acquired.
So, what are some of the key insurance considerations when buying a business?
COVID-19 Business Interruption Claims Court Case Decision
On Wednesday 18 November the NSW Court of Appeal handed down a unanimous decision in a case launched by the Insurance Council of Australia concerning the application of Business Interruption (BI) claims related to two test cases, where business operations were affected by COVID-19 and their policy coverage denied.
So, are you sure you haven’t entered into indemnity or hold harmless agreements? | Why contract review is crucial for your insurance
Proposals for public and products liability insurance often ask whether the potential insured has assumed any obligations under contracts or agreements, including through hold harmless or indemnification agreements.
Unfortunately, all too many times people have indemnities or hold harmless agreements in their existing contracts and may be completely unaware. This, in turn, can expose you and your business to unintended risks or gaps in your insurance solution.
At Acacia Insurance, we're able to review contracts and advise our clients on the insurance ramifications. This is a point of difference that we pride ourselves on, and the service has helped many of our clients reduce their risk exposures. Contact us to find out more or read on to learn more about this risk.
KidzWish Golf Day – proud sponsor for our charity insurance client
The Acacia Insurance team thoroughly enjoyed participating in and sponsoring our charity insurance client KidzWish's golf day, which raised $25,000! The event was held on 9 Oct at The Links Golf Course, Shell Cove.