EOFY insurance review | What engineers often overlook
As EOFY approaches, engineers often review insurance at a high level. The risk is assuming your cover still matches your work and contracts.
-
-
Protecting your engineering business | Essential insurance cover
Running an engineering business brings opportunity, but also risk. Professional indemnity insurance is essential, but so too are protections against cyber incidents and business disruption. Find out how the right cover safeguards your business.
-
Subcontracting in a soft insurance market
Subcontracting offers flexibility, but it also increases responsibility and risk. In a soft insurance market, it’s tempting to focus on lower premiums, yet the wrong cover can leave your livelihood exposed. This article explores why the right insurance matters for subcontractors and how to safeguard your business in a shifting industry.
-
Professional indemnity | Don’t trade price for protection
In just a few years, Australia’s insurance market has gone from one of the hardest in recent memory to one of the softest. Premiums are falling. Quotes are suddenly easy to come by. And a number of insurers who once pulled back from engineering risks are re-entering the market, looking to secure business they had not long ago declined to cover.
-
New risks for engineers as NSW rewrites proportionate liability rules
New risks for engineers as NSW rewrites proportionate liability rules. Legal changes in NSW mean engineers could face greater liability exposure. Learn what this means for your contracts, coverage and risk.
-
Beyond the Contract Requirement
Why continuous professional indemnity insurance is essential for engineers In the world of engineering, precision and foresight are crucial. Yet, when it comes to professional indemnity (PI) insurance, some engineers take a project-by-project approach – only purchasing coverage when required to secure a contract, and cancelling it once the project is complete. While this might…
-
Essential steps your business must take after a cyber data breach
Unfortunately it’s not if but when a business will experience a cyber breach…which means it’s vital to be prepared before one happens. The first step for a small business experiencing a cyber breach is to enact its cyber security incident response plan. “If a cyber breach happens, don’t touch anything, call for help. Engage professionals…
-
Staying on top of cybersecurity
Cybercrime shows no signs of slowing down in Australia. And while attacks on big business may hog the headlines, smaller enterprises are squarely in the sights of hackers and cyber criminals. The Federal Government’s online cybercrime reporting service, ReportCyber, received close to 94,000 reports in FY2023, according to the Australian Signals Directorate Cyber Threat Report….
-
Insight Articles | Business Insurance | Cyber Insurance | Professional Indemnity Insurance | Risk Management
Essential insurance for entrepreneurial engineers: A comprehensive guide
There’s a lot to like about starting and running your own engineering business, including freedom and flexibility. As your own boss, you have the freedom to set your own schedule, giving you control over your working hours…and your income. You can strategically book clients to increase your earnings, or prioritise downtime by accepting fewer jobs….
-
Excess layer insurance equals complete peace of mind for engineers
Engineering is a highly specialised and complex industry, more so than ever in today’s increasingly regulated environment Any company or individual providing professional advice or services that can significantly impact clients’ lives and businesses – including engineers, consultants, builders and designers – are at risk of claims related to breaches of professional duty. This means…
