Category: News

Robert Wallace, workers compensation insurance

Acacia Insurance appoints leading expert Robert Wallace to bolster workers compensation service

Acacia Insurance continues to grow and build in both capacity and capability, and we're proud to strengthen our workers compensation practice to continue to provide advice and solutions of the highest quality and deliver better outcomes for our clients. There is no doubt that workers compensation is a specialist area, requiring dedicated skilled resources, and we're pleased to announce the appointment of leading expert Robert Wallace.

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DBA Act, construction insurance

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.

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general insurance market update

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.

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happy days charity golf event

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.

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insurance implications of buying a business

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?

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business interruption, covid

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.

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contract review

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.

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