Strive Insurance Services

We're off to Futsal Nationals as a family so our office is closed, re-opening on Wednesday 7th October.

We will monitor emails and voicemails and triage anything urgent that comes through, especially claims. We appreciate your patience whilst our responses are a little slower than usual.

⚽ Let's go ACT Yellow! ⚽

📝 PROFESSIONAL INDEMNITY CLAIM EXAMPLE 📝

As part of their contract, a marketing consultant provided social media services including an ad campaign. Unfortunately a miscommunication meant that the ad campaign was kept in place longer than planned and the cost surpassed the agreeded upon budget by just over $10,000.

The client submitted a claim against the consultant because they had failed to stick to the campaign budget. The insurer reviewed the claim and agreed to cover it under the Civil Liability component of the Professional Indemnity policy. The overspend was paid to the client.

If you would like to discuss your Professional Indemnity policy, or if you're not sure if you should hold one, get in touch:
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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⭐ Today - but really every day - is RUOK? Day ⭐

This is a great opportunity to remind ourselves how important it is to pay attention to the people around us and regularly check in. RUOK Day has valuable resources that help you feel more confident about not only asking the question, but how to listen and genuinely engage if someone confides that they're NOT ok.

Whether you're an individual, a workplace or have links to community groups such as schools and sporting clubs, we encourage everyone to check out the resources. There's even a free webinar coming up for workplaces - you can check it out and register here: https://forms.ruok.org.au/260357740904054

If you need help, contact numbers for support services are available here: https://www.ruok.org.au/findhelp and if life is in immediate danger please call 000.

🫶 We are also always happy to help with additional resources and information about services that might be useful.

We're now officially in ⛈ Storm Season ⛈ and moving rapidly towards 🔥 Bushfire Season 🔥 so it's a great time to check how prepared you are.

✅ Maintain your yard or balcony: secure belongings that could blow around in strong winds, trim branches and clear debris that could become a fire hazard

✅ Clean your gutters, downpipes and drains regularly to prevent blockages and flooding and increased risks of embers catching. Know how you'll temporarily block and fill gutters and downpipes ahead of an ember attack.

✅ Ensure your roof is in good condition and repair any existing damage. As well as preventing future damage, it also reduces the risk that an insurance claim is declined due to poor maintenance.

✅ Check your insurance! When did you last update your building and/or contents sums insured? Do you understand any policy exclusions or limits? If you're unsure, chat to your Broker or Insurer ASAP. Embargos are often placed in the lead up to natural disasters, so you may not be able to change existing or take out new policies.

✅ Prepare an emergency kit for power loss and evacuation. Don't a battery operated radio to listen to local radio stations for emergency updates.

✅ Know what to do and what NOT to do if your property is damaged. Keep essential numbers handy and wherever possible store important documents, propoerty/contents photos and receipts in the cloud so you can access them any time.

Your local emergency services have more information and resources available, including emergency plan templates and checklists.
For example: https://esa.act.gov.au/be-emergency-ready/storms
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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🥳 We're excited for our NSW clients 🥳

The NSW Government has announced a Workers Compensation premium rate freeze for both the 2026/27 and 2027/28 financial years! They are also maintaining the minimum premium payable and reducing the premium increase cap for experience-rated employers.

💲 So whilst your premiums will still need to be re-calculated if your wages, business activities, incentive eligibiliity or claims history have changed, there's some relief and a bit of certainty during some pretty tough times for business owners.

Now we'd love to see the ACT Government listen to stakeholders and overhaul our own Workers Compensation scheme! 👂🤞😉

If you're a NSW Business owner, you might like to check out the resources available at the Service NSW Business Bureau - email updates, webinars, business guides and more: https://www.service.nsw.gov.au/business

Of course you're always welcome to contact us to chat anything insurance related:
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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🚨 One claim can undo years of hard work 🚨

If you give advice, design something, or provide a professional service, a single mistake - or even just an allegation of one - can mean costly legal fees, compensation claims, and reputational damage.

That's where Professional Indemnity Insurance comes in. It protects you and your business against claims of negligence, errors, omissions, or breach of professional duty.

✅ Covers legal defence costs, even if the claim is unfounded
✅ Often a contractual or licensing requirement in many industries
✅ Protects your reputation, not just your bank balance

Whether you're a consultant, accountant, architect, engineer, or run any advice-based business, if your work could be second-guessed, you need to be covered.

Not sure if your current policy has the right level of cover or if you even need it? Let's chat. 📩
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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🔎 CASE STUDY 🔍

*Not one of our clients, details have been changed to protect privacy*

Craig and Julie run a rapidly growing accounting firm and recently, decided they needed a larger office. It was a hectic time: finding a property, negotiating a new lease, packing, organising removalists and arranging flexible working arrangements for staff during the move. Even with the Real Estate agent requesting a certificate of currency, Craig and Julie forgot to notify their Insurance Broker about the move.

🚨 Unfortunately, two weeks after the move, the office was broken into, windows smashed and equipment stolen. When Craig and Julie went to lodge the claim with their Broker, they realised they had never updated their business address.

As a result, there was no cover for the stolen items or the damaged glass in the building (technically resulting in a breaching of the lease which required insurance cover for glass). Luckily no equipment with client data was stolen as this also could have lead to a large cyber claim, including fines for breaches of privacy legislation, which potentially could have been declined by the insurer as well.

We cannot stress enough how important it is to ‼️ inform your Broker BEFORE making any changes to your business ‼️ whether this is a location move, new equipment or vehicles or changes in your business activities or staffing. Whilst some changes might not make a difference to your insurance it is better to be safe than sorry - especially when it can cost you big time!

☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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🛠 Sometimes one company may undertake multiple different business activities. It would be great if one Public Liability policy could cover the lot. 🏢

However, when business activities vary significantly, in the eyes of the insurer so too do the risks and likelihood of a claim. This can be the case even when all activities are for example office based, or are all trade activites.

This means it's very important to be clear about all the business activities that operate under your ABN with your Broker or Insurer. ✅This allows them to properly review your insurance needs and determine whether you can be fully covered under one policy, or whether you need different policies for the different activities.

The last thing you need as a business owner is to think you're fully insured only to find out you're not when it comes time to make a claim! 😱

Reach out any time for an obligation free review of your business insurances:
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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A good question we've been asked a few times recently: Can I change the name of who is insured on my policy? (Also known as 'The Insured')

🏠 A personal insurance policy can usually have a new person added onto a policy as a co-insured. E.g. adding a partner onto your home and contents, or a child onto your motor vehicle policy. ❌ However, you can't just change names over e.g. if you sell your motor vehicle to your child, you swap their name for yours on your policy. In this case,

👨‍💼 A business policy name change requires a new policy to be commenced when there is a change in structure or ownership. For example, changing your business from a Sole trader to a Company, or changing Trusts. ✅ If the registered business name and ABN remains the same, you may add a trading name onto the policy.

📝 For both personal and business policies you can change an 'Interested Party' who is named on the certificate of currency. This is usually relevant for a finance company, Landlord etc.

A best tip is when you're considering a change 📲 contact your insurer or Broker to find out what will need to happen to your insurance policy. That way you don't risk leaving yourself uninsured if a new policy is needed for the new name.

If in doubt about any of your insurance policies, get in touch for an obligation-free review:
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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Renewal time snuck up again and you feel like you’ve missed the boat to review your policies? 😫 Don't just lock in for another 12 months and risk forgetting again next year – there are options!

✅ Personal policies (Home, Motor, etc.): You can renew now, then bring in a Broker to review your options. Most personal policies can be cancelled mid-term for a pro rata refund if you switch, some direct insurers even offer monthly payment options that can be cancelled when needed.

✅ Business policies: These can be more complicated and also need more time to review. When you find a Broker you trust, you can sign a Letter of Appointment. 📝 Even if you can't cancel your current policies mid-term (this can vary depending on the policy), they'll receive your renewal docs and shop the market for you, plus help with any insurance changes you need to make in the meantime.

Either way, having a Broker means you’ve got someone to do the hard work for you and remember when those renewals are due! 🥳
☎ 02 6193 9879
💻 [email protected]
📜 www.striveinsurance.com.au
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