Business service member Finity has summarised personal lines insurers’ Covid-19 responses so far in a new article. It has particularly focused on the largest classes of business, motor and home, and included a deep dive into landlords’ cover. Author Marcello Negro considers a key question for insurers – how their top and bottom line impacts [...]
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.
To enable teams to better work from home during the coronavirus outbreak, Microsoft is offering a free six-month Office 365 E1 trial, including Microsoft Teams. To learn what's available with an E1 licence, read more here – Office 365 E1 – and here – support remote workers with Teams. UAC Business Service member Gratex, which [...]
Need to know more about accessing JobKeeper, superannuation, and tax deductions for working from home? UAC financial partner WLM Financial has provided a series of articles to assist you. JobKeeper: The key facts The JobKeeper payment is a $130 billion scheme to support businesses significantly affected by the coronavirus crisis. The scheme provides for payments [...]