Your ability to earn an income is likely your biggest asset requiring protection. Through our association with Atlantic Financial Services, we can provide advice on a range of personal risk insurances, including Income Protection and Life Insurance.
Workers Compensation requirements differ from state to state in Australia. Atlantic can help to coordinate insurance to cover your employees against injury at work.
If you import stock or materials we can assist with a Transit policy that will protect the carriage of your goods for imports, exports and local transit by air, road, rail and sea. We can also arrange cover for these goods whilst in storage or for transit of customers goods.
We recommend that all of our trades clients consider a Management Liability policy. This protects the Directors, Officers and Employees of your Company against claims arising from negligence in the performance of their duties. Covers include Directors and Officers Liability, Employment Practices Liability, Crime, Statutory Liability and many more.
Many Tradies own Plant and Machinery such as excavators, bobcats, skid steers and forklifts. We offer a range of policies to cover these items for Theft and Damage along with Third Party Liability if these items are registered.
We are experienced in organising both single Commercial Motor policies and Commercial Motor Fleet policies if your business operates a fleet of vehicles, which can be extended to cover automatic additions and deletions, free windscreen, along with other benefits.These policies provide protection for your vehicles, including own damage and third party property damage.
If you own or lease a factory or warehouse, we can organise cover for your Buildings, Stock and Contents for risks such as Fire, Accidental Damage, Malicious Damage, Water Damage, Impact, Business Interruption, Theft and Glass Breakage.
The ATO continue to target self-employed tradie’s for tax audit. Atlantic can set up a policy that will cover your tax audit expenses in the event you are audited by the ATO or other government agencies.
If you require a more basic coverage to protect your income, Atlantic can assist with Injury and Illness Insurance, with benefit periods up to 5 years and waiting periods as low as 2 weeks.
The Warranty in your policy provides protection against the costs of rectifying defective workmanship only for 6 years. This warranty does not provide 6 years of cover for personal injury or damage to a premises caused as a result of these defective works. To cover this risk we are able to arrange a “Run-Off” cover which can be kept in place for as long as you think necessary and is negotiated for a substantially reduced premium
Whilst Atlantic Insurance has been assisting our Trade Insurance Clients arrange Public Liability, Tools of Trade and Personal Accident and Illness Covers for over 25 years, Cyber Insurance is a relatively new risk for Trades Insurance Businesses to consider.
With a cybercrime reported every 6 minutes following research by the Australian Cyber Security Centre it is often small and medium businesses targeted who have less sophisticated Cyber Security Systems and processes in place. This is a faceless crime that is only going to become a greater risk as our Businesses become more dependant on online practices and procedures.
With many Trades Businesses becoming more reliant on technology for quoting, invoicing, storing customers details, managing accounts and even arranging appointments there are both Cyber Risks for your Liability to others if this information is breached and also costs to your business following downtime, IT repair costs, extortion or theft of funds.
We discuss the following important Cyber Covers with our Trade Clients:
Optional Covers for Criminal Financial Loss – Cyber Theft, Social Engineering, Customer Phishing Theft and Telephone Phreaking
Cyber Threat, Extortion & Response Costs
Payment Card Industry Data Security Standard Fines
Defence Costs
Event Recovery costs
Third Party Liability
With cover limits and benefits flexible depending on a Trades Insurance Business size and insurance budget our Client Managers can provide options to cover your major exposures.
Any Tradie who uses technology to run their business or manage their accounts should consider Cyber Insurance Cover.
Technology includes Trades Businesses with a website, who use email, who store customers data, who take electronic payments or use electronic systems to manage workflow.
The Cyber Insurers that Atlantic Insurance work with on behalf of our Trades Insurance Clients have a 24 Hour emergency response team which will aim to minimize any downtime and provide IT security, forensic support and legal assistance in the event of a Cyber Breach or even a potential or suspected Cyber event.
Following the insurers emergency response the Trades Client Manager who assisted you arrange your Cyber Policy will then assist you manage your claim and see this through to completion. We see this is a tangible point of difference as many of our competitors utilise Claims Teams who are often separated from the Client Managers who arranged the Cyber Insurance Policy initially. Atlantic Insurance’s Client Managers appreciate that the true value of a Cyber Insurance Policy is at claim time and will be available to assist you at what could be one of the most stressful experiences a business owner of a Trades Business ever faces.
Contingent Business Interruption
Covering the impact on your business caused by an interruption to your business directly arising from an outage at your external suppliers’ business.
Criminal Financial Loss
Covering a direct financial loss incurred by you, or one which you are legally liable to pay to others directly arising out of cyber theft, telephone phreaking or cryptojacking
Socially Engineered Theft
Covering a direct financial loss incurred by you, or one which you are legally liable to pay to others directly arising out of socially engineering event (targets individuals – tricking individuals to divulge sensitive information, transferring money to hacker’s accounts or access to corporate IT systems)
Tangible Property Cover
Covering the cost of the replacement of any of your IT infrastructure that is physically damaged solely and directly because of a cyber event or the incurring of cyber event response costs.
No, a large percentage of Cyber Breaches reported occur at small businesses including Trades Businesses. With competitive minimum premiums for small businesses we recommend all Trades Businesses consider coverage.
Large, high profile businesses have been breached recently including Optus and Medibank. These organisations have large IT teams, excellent security and were still vulnerable. A Cyber Policy goes hand in hand with the work your IT Contractor is doing. Most IT Contractors now carry their own Cyber Policies, unfortunately no-one is immune.
Some Cyber Policies will respond to first party losses such as Business Interruption if your Revenue is impacted whilst you are offline.
The Cyber Insurers that Atlantic works with appreciate that your own IT provider has intimate knowledge of your systems. The Insurer will work with them to minimise the impact on your business and have you operational in the shortest timeframe possible.
Yes. We will assist you with lodgement, seek regular updates and ensure the claim is running smoothly and meeting your expectations all the way through to completion.
ATLANTIC INSURANCE
6 Monomeeth Drive,
Mitcham, VIC 3132
03 9836 3733
