ProRisk wins ANZIIF’s Most Valuable Team for 2021 award
ProRisk’s claims team has been awarded Most Valuable Team for 2021 by ANZIIF. Chloe Thomas, Group Claims Manager for ProRisk, said the award was a testament to the “smart, dedicated, hardworking, professional, and empathetic people” in the claims team. “Fantastic humans working collaboratively and proactively to deliver an outstanding claims [...]
SMEs cautiously optimistic despite further staff cuts as JobKeeper ends
The latest wave of the COVID-19 SME Research Tracker shows that cautious optimism continues to underpin SME sentiment, despite 54% reporting lower revenues due to COVID-19 and 29% reporting an operating loss in February. Some of the highlights are: 54% reporting revenue losses due to the pandemic compared to 57% [...]
Australian BI Test Case Judgment Delivered
The NSW Court of Appeal has just delivered its judgment in the joint ICA and AFCA endorsed BI test case relating to the Quarantine Act. A copy of the judgment can be viewed here. The court has made the following declarations: 1. Summons dismissed. 2. Declarations that: On the proper [...]
Insurance Business Awards 2020
The Insurance Business Awards held 22 October define excellence in the Insurance profession, recognising leading companies and individuals for their outstanding achievements over the past 12 months. The Underwriting Agencies Council sponsored the awards for: Australian Underwriting Agency of the Year and Underwriting Agency BDM of the Year. We are [...]
Future of insurance report available
In late May, UAC asked agency member principals to complete a survey for Business Service member Clyde & Co about their experiences in the Covid-19 pandemic and what they expect the future of insurance will look like. Thanks to all who participated. The results are now available. Download the report. [...]
JobKeeper 2.0 starts after Sept
The second tranche of the JobKeeper scheme changes the eligibility test for employers and the amounts paid to employees. UAC accountant and Business Service Member WLM Financial has prepared information on what the new scheme looks like. If your business currently receives JobKeeper, arrangements will remain unchanged until 27 September [...]
Portal assists small business recovery
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) is ready to help SMEs emerging from hibernation and keen to make the most of easing Covid-19 restrictions. ASBFEO’s My Business Health web portal has useful information for small business owners ready to re-open or ramp up their operations. It’s a [...]
WLM insights, Covid-19 updates
As the 2019-20 financial year closes, UAC accountant and business service member WLM Financial has provided useful information about tax and superannuation changes that take effect on July 1. Read more here. It is also warning that ATO is on the lookout for businesses that may have made adjustments to [...]
Tax relief for Covid-19
Want to know what tax relief measures are available in your state or territory for Covid-19 pandemic support? Sensis, the platforms and marketing services company that owns the Yellow Pages and the White Pages, has produced a useful guide that breaks down what relief is available in each jurisdiction. Here’s [...]
Personal lines insurers’ responses
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 [...]
Maintain security to avoid cyber attacks
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 [...]
Reform program stalled
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 [...]
IRS grants FATCA extension
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 [...]
ATO introduces new changes to JobKeeper
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 [...]
ATO grants JobKeeper payment extension
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 [...]
ASIC outlines its expectations
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. [...]
Covid-19 themed scams
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.
Microsoft free trial offer
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 [...]
How to access JobKeeper, super, WFH deductions
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. [...]
Managing cyber and privacy risks
As the world continues to deal with the economic and operational challenges from the global Covid-19 pandemic, cyber criminals are seeking to exploit new work practices and capitalise on uncertainty. Clyde & Co has warned organisations to be conscious of data, privacy and business risks associated with Covid-19. The firm’s [...]