Agile Underwriting has continued its efforts to design insurance products specially made for the gig economy industry. Agile is the security provider for a new product offered by UpCover, tailored to the food delivery gig economy, with a monthly pay-as-you-go feature. Read more here.
Most online marketplaces (eg Etsy and Instagram Shop) are set up so they’re not responsible if something goes wrong with a seller’s product. That means it’s up to sellers to be prepared and protected if something goes wrong. Ryno Underwriting tailors insurance for small handicraft businesses with potential product liability exposures. Use this link for [...]
ProRisk has launched a proprietary quote-and-bind trading platform called ProBind, which has been developed specially for brokers. The first product available for brokers on the platform is allied health wording, Healthcare Professionals Civil Liability v05.20. ProRisk plans to continue rewriting and redesigning its product suite for online transactions. Click here to read more.
With thanks to member Emergence Insurance, UAC recommends the following strategies to assist in maintaining cyber security while your staff are working from home. The cyber risks of flexible work arrangements could include malware infection, unauthorised access, data security, and insecure devices used by staff. It’s important that businesses and their staff ensure remote access [...]
Regulators have shifted their priorities to deal with the Covid-19 pandemic. That means delays to reforms and legislative changes to general insurance. UAC Business Service member The Fold Legal has issued an updated summary of the revised timetable. Click here to read more. UAC General Manager William Legge says while APRA is not issuing any [...]
The US Internal Revenue Service (IRS) has granted an automatic extension of time to entities with Foreign Account Tax Compliance Act (FATCA) certification due by 1 July 2020. The extension to 15 December 2020 is automatic within the FATCA registration system. More information is available at Q21 in the ‘FATCA certifications’ category on the FATCA [...]
Changes to the Covid-19 JobKeeper arrangements came into force on 1 May 2020 with the introduction of Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No 2) 2020. This includes a monthly declaration of your business’s current and projected turnover. Click here to read more. Remember, there is an obligation that, within seven days [...]
The ATO has given businesses an extension of time to pay their employees under the JobKeeper program. Enrolments for the initial JobKeeper periods have been extended from 30 April 2020 until 31 May 2020. For the first two fortnights (30 March – 12 April, 13 April – 26 April), ATO will accept the minimum $1,500 [...]
ASIC has written to all general insurers about its expectations in light of the Covid-19 pandemic. ASIC says it expects entities to treat customers fairly and avoid adding further financial harm or burden to consumers. The four-page letter asks insurers to be flexible and details ways insurers could do that. Read the general insurers’ letter [...]
The Australian Cyber Security Centre (ACSC) is aware of a significant increase in Australians being targeted with Covid-19 themed scams, fraud attempts and deceptive email schemes. Read more here.