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Travel Insurance - Why you can’t leave home without it

A broker colleague has family members who enjoyed the delights of a Mediterranean cruise a year or so ago. They recalled that they were encouraged, whilst on board, to carry only the ship's charge card.

As they watched, with mixed emotions, the January 2012 news broadcasts of the rescued passengers standing on shore adjacent to the stricken Costa Concordia, they wondered at the usefulness of the ship's charge card to those shivering people.

Perhaps a cruise liner disaster on this scale is only a ‘once in 100 years' event. But all travellers, whether going international or interstate, need to be prepared for trouble - whatever the mode of transport, wherever the destination.

Inconvenience and injury may not be avoidable but having an appropriate level of travel insurance to suit your circumstances can soothe the financial repercussions of a nasty event.

Comprehensive travel insurance is the ideal and is relatively inexpensive compared to the investment in the travel itself. It should cover all medical expenses for injury or illness, as well as theft of your valuables and cancellations or interruptions to your flight plans, baggage damage and more. It also saves you the worry and financial burden if you have an accident or illness overseas where medical costs can be in the tens of thousands of dollars. Many families have been devastated financially in paying these costs.

Travel insurance is about helping you deal with the unexpected. So talk to us about your needs whether it is cover for a one-off trip or annual cover for regular travellers.

More information: Department of Foreign Affairs and Trade website - www.dfat.gov.au

Information in this article supplied by the Council of Queensland Insurance Brokers - CQIB.

 

 

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Financing Options: Lease vs Chattel Mortgage

With the end of financial year just 3 months away, it may be time to start thinking about how you can save tax this year. One way is purchase a car or capital equipment and use a finance facility to assist you to pay for it. But which type of finance should you choose?

Leasing - How it works

A Finance Lease is a rental agreement, where the finance company purchases your vehicle and you rent it from them for an agreed monthly repayment. At the end of the term you make a final payment and the car is yours, or the finance company may elect to retain the vehicle. This however, is rare but should be considered when negotiating the residual. A Finance Lease allows businesses to take a residual position on the vehicle for the end of the term, providing it is within the Australian Taxation Office guidelines. This allows you to set repayments to cash flow requirements and potentially reap the benefit from the vehicle selling at a higher price than the residual.

A Finance Lease does not require a deposit, and so gives you immediate use of the vehicle. Payments are fixed for the term of the lease, allowing fixed budgeting for your financial planning. For added flexibility you have the option to refinance the vehicle or make an offer to purchase the vehicle for the residual value at the end of the lease.

Benefits you'll enjoy...

• Finance leasing offers fixed rate financing; you pay at the same rate monthly.
• Leasing is inflation friendly, as the costs go up over five years, you still pay the same rate as when you began the lease, making your dollar stretch further, along with tailored repayments to suit cash flow.
• You can keep upgrading; as new equipment becomes available you can upgrade to the latest models each time your lease ends.
• Typically the vehicle is yours to keep at the end of the term by paying out the residual value if you choose.
• Finance leasing also offers potential tax benefits depending on how the lease is structured.

Chattel Mortgage - How it works

The financier takes security (mortgage) over the goods until repayment has been made in full. This finance option best suits you if your business accounts on a cash basis (turnover less than $1m) as it allows funding of GST upfront and permits a full GST claim in the first BAS cycle.

Benefits you'll enjoy..

• No deposit vehicle finance. (in most cases)
• Interest and Depreciation may be tax deductible.
• Makes budget forecasting more accurate.
• Finance repayments are spread over time so you keep your cash reserves for more effective use.
• You can build up equity in your vehicle by using the trade-in value of your previous vehicle.

We always recommend you discuss finance options with your accountant before committing to a product to ensure you have the right package for your situation and are able to maximise your tax claim.

Article supplied by SPC Finance

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Body Corporate Committees .... and the risk of underinsurance

Being a member of a body corporate committee is one of the many voluntary community roles that do not receive the proper recognition for the hard work involved.

The role and operation of a body corporate committee can be daunting. The challenges of satisfying Owner and Occupier's needs, complying with legislative requirements, as well as ensuring the efficient and financial operation of the day to day running is, in effect, the running of a business.

It is important that the committee make informed decisions. As a committee member you may be required to make decisions on subjects in which you have no experience. In these instances it is important to obtain professional advice to ensure you make the right decisions.

Many body corporate committees rely on Strata Managers to source insurance quotations from one or a limited number of insurers as part of their general role in assisting the committee with myriad secretarial, financial reporting and general administrative tasks.

Strata managers receive commissions from Insurers, however many strata managers have very limited insurance knowledge and do not, cannot and should not advise on insurance matters.

To protect the interests of Owners and Occupiers, the wisest move would be to appoint a General Insurance Broker firm to look after the insurance interests of the property. A general broker's services include professional insurance advice as required, but in addition, they have a full understanding of the ramifications of Policy Wordings and Sum Insured calculations, as well as access to a wider number of insurers, specialised risk management services and so on to enable the committee to make informed decisions that ensure the successful running of their property enterprise.

If you are on a body corporate committee, or about to be, we recommend the following Government websites that offer a host of additional information. 

http://www.justice.qld.gov.au/justice-services/body-corporate-and-community-management. 
http://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Strata_schemes/Frequently_asked_questions_strata_schemes.html

Information in this article supplied by the Council of Queensland Insurance Brokers - CQIB

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Recent Published Article talking about Serviced Residential Housing

Serviced Residential Housing Article

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Congratulations to Jayne and Dan

We wish them all the very best for their future together.

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Common Myths about General Insurance

Every day we come across clients with misunderstandings about general insurance. Here we've features the Top 5 Insurance Myths developed by The Insurance Council of Australia to help clarify your understanding of key issues.

Myth Number 1 - Insurers don't pay claims OR Insurers try to avoid paying claims.

False - The Financial Ombudsman Service reports that over 98% of insurance claims are paid without dispute. The Australian Prudential Regulation Authority reports that Australian insurers pay an average of $95 million in claims each working day to the Australian community. Insurers will not pay for claims that fall outside of the terms and conditions of the insurance policy or claims that are made fraudulently. A free service exists for managing disputes with your insurer through the Financial Ombudsman Service. All costs are met by the insurance industry and decisions made by the Ombudsman are binding on participating insurers.

Myth Number 2 - I don't need insurance - I have never experienced damage or loss to my assets, if I do the government will replace my assets or assist me.

False - Most Australians experience a financial loss at some point in their lives. Insurance is about protecting yourself and your family from a loss that you would otherwise not be able to financially recover from.

Most Australian's do not routinely have enough savings to rebuild a house or pay off a mortgage if your current property is destroyed. Some consumers feel that they have paid premiums for years without any need to make a claim, but insurance is about protecting yourself against large financial impacts that may only occur once or twice in a lifetime if you are prudent.

Managing your risks, avoiding accidents, protecting and maintaining your property to lower the probability of having to call upon your insurance demonstrates sound judgement, something that is usually reflected in your insurance premium.

Myth Number 3 - Insurers have collected my premiums for years, insurers are therefore obliged to cover me for any damage whatsoever that I might claim.

False - All policies have limitations and exclusions of one form or another. Without these exclusions the cost of insurance would be astronomical as the policy would be required to compensate the policyholder for all manner of incalculable risks.

Policy terms and conditions exist to protect the consumer. Insurance policies cover a wide variety of circumstances and issues that policyholders seek to protect themselves from through purchasing insurance. It is important, for both the insurer and the policyholder, to carefully define and understand what is covered under the policy and what circumstances are not covered. Consumers should carefully research their insurance needs and then seek out products that provide the desired insurance cover at a price the consumer is willing to pay.

Under Australian Law insurers must make available a Product Disclosure Statement (PDS) to policyholders so that these terms and conditions can be read and understood. Policyholders are usually required to formally acknowledge receipt of the PDS and that they have understood the terms and conditions. Consumers should read the PDS before purchasing a product to ensure that they understand how the product operates and what their entitlements to make a claim are.

Myth Number 4 - All insurers are the same, there is no difference in products or price.

False - APRA reports that there are currently 111 general insurers licensed to operate in Australia. This number of general insurers brings with it a large number of choices for consumers. Products offered by individual companies differ significantly in terms of coverage, terms & conditions, exclusions and costs. Consumers should ensure that they research each purchase of insurance to make sure that they are buying cover that suits their particular circumstances and needs.

Myth Number 5 - Premiums are too expensive and don't reflect the real world.

False - Insurance works on the principal of placing a cost on the risk of an event occurring that causes damage to an asset owned by a policyholder.

Insurers rely upon actuarial evidence to help determine premiums. Insurers invest heavily in the science of calculating and understanding certain risks, for example crime rates for certain postcodes, the risk of flooding, hail, fire or cyclones. Insurance works on the principal of placing a cost on the risk of an event occurring that then causes damage or loss to an asset owned by a policyholder. If the risk to insured assets is shown to be increasing, then there will generally be a corresponding increase in the costs of accepting those risks (i.e. Premiums). Policyholders can often reduce premiums by reducing the risks to their assets, for example by installing security systems, maintaining the property or choosing to build from materials that are more resistant to hazards in the area. Some costs on insurance are beyond the control of insurers and policyholders, for example taxes imposed by government on insurance products.

Source: www.insurancecouncil.com.au

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ASIC finds only 3% of financial plans good:

Here's how you can make sure you get the right advice

According to the recent ASIC Shadow Shop Survey to test the quality of financial advice, only 3 per cent of plans were of good quality.
ASIC commissioner Peter Kell said "there is a clear need for improvement in the quality of advice and a reduction of conflicts of interest" in the financial planning industry.
Kelly also said ASIC fully supported planned measures such as raising the standard of adviser conduct, lifting the quality of advice provided to retail clients and getting retail clients engaged with the advice they receive. It is expected the upcoming FOFA (Future of Financial Advice) reform package will improve communication between advisers and clients, as well as providing a greater focus on strategic financial advice.
Here's where we can help.

PB Insurance has a network of trusted financial advisors we work with and confidently refer to. If you're looking to get a new financial plan, or a review of your current one, let us know and we'll put you in touch. We want to make sure our clients get the best advice every time.

To speak to one of our team or get more information:

Call 07 5495 5355
Email enquiries@pbinsurance.com.au
Website www.pbinsurance.com.au/index.php/contact_us

 

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PB Insurance is now on social media!

For all the latest news, updates and special offers, be sure to follow us on Facebook and Google+.

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Testimonials

Having been very frustrated with the insurance brokers that we had previously been working with, we made the switch to PB Insurance a little over a year ago. Not only did we see an immediate reduction in our insurance costs, we also got a greater level of confidence in our risk coverage and how it would be administered.  Andrea Niebling is our account manager there and our experiences to date have been truly excellent.  Their customer service, their attention to detail and their ability to source cost-effective as well as comprehensive insurance for our business needs has been outstanding.  They make it very easy to do business with. I would highly recommend their services.

 

Aseet Patel

 

Our Company, Rileston Pty Ltd has been dealing with PBInsurance for over  10 years for all our Business Insurances.

We have found their service and quality of  products helpful and tailormade to our small business’s specific needs.

Earlier this year we made our first claim as a result of the January 2011 floods. Bill Higginson our Account Manager and his team provided us with outstanding service and did all the following up, allowing us to concentrate on getting our business back on track.

We can highly recommend PBI for Small Business Insurance.

 

Martin Pobar

 

PB Insurance have taken the time to demystify our insurance and save us money! Can't recommend them enough.

 

Burke Denny

 

"We're so happy with the personalised service we have received from the PB team. We felt it really important to support local business and this paid extra dividends when we had a claim recently. A representative from PB was able to come to our business straight away to support us, offer advice and help lodge our claim."

 

Beck Francis

 

Ron and I have been constant clients of PB Insurance for over 30 years. Over this time PBI have looked after all our property, business car and boat insurance requirements with great care and professionalism. We have maintained our insurance business with PBI for the simple reason that it is good business to do so.

 

Jennifer Bettridge is our Account Executive; we meet with Jennifer on a regular basis to review our insurances. Jennifer is the complete professional, always prepared, follows up on our many questions and provides us with a high level of expertise and timely advice. Jennifer also ensures that we not only have appropriate insurance cover that will deliver should we need it, but also value for money. As a local family business we are delighted that PBI and Jennifer Bettridge are in our local area delivering on our insurance needs.

 

Joy Leishman

 

We were introduced to PBI and Ian Yeo through Greg Roach of Budget Accommodation Solutions’ our compliance advisor for the Student Accommodation Industry.

 

PB Insurance has been involved with the SAIA since its inception and has extensive knowledge of the industry and has developed a product with insurers that is specific to the student accommodation industry.

 

Through the specialised product developed by PBI we are now confident that our clients are adequately covered in their current and future endeavours.

 

We would highly recommend Ian and PBI as specialists in the Student Accommodation Industry and also feel confident in any future advice they may give in other business ventures.

 

Damian Haber - The Pad

 

 

 

I am the owner of a busy Ultratune store and the father of two energetic boys.  Time to me is precious.  It is critically important to me that when disaster strikes and I need immediate assistance and information that I have confidence in the people taking care of my insurance needs. 

 

After many years of poor service and an invaluable referral to insurance brokers PBI, I have found all the assistance I need in one phone call.  I have also been given the professional services of Andrea Niebling (Account Executive) whom has extensive knowledge of the motor industry.  The service Andrea provides is prompt, informed and beyond the normal call of duty.

 

At times that I am unable to attend to business affairs personally my staff are also confident in approaching Andrea in times of need.

 

I have no hesitation in recommending PB Insurance and Andrea Niebling for all your insurance needs. 

 

Corrado Gagliardi

 

 

 

 

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Who will you call for Insurance that is right for you?

Most of us work hard and along the way, acquire valuable assets that make our lives easier and more pleasurable. Over the years, our assets form part of an investment strategy which helps secure our financial future. So taking steps to protect those assets is crucial. Insurance cover is usually the best answer because the investment of a relatively small sum of money will protect you, at least financially, from loss however caused.

But with over 150 insurers offering different insurance covers, how do you make an informed decision to secure the right cover for your needs? Do you choose the lowest price cover, or the higher priced cover that offers substantial benefits in the event of loss? Who can you turn to for advice? What type of advice is ‘out there'?

Three main sources will usually provide the answers - some better than others.

GENERAL KNOWLEDGE
You read the brochures or search the internet for clues. Gather opinions from friends and slowly, steadily, build up a knowledge base that hopefully, provides an eventual, informed decision.

GENERAL ADVICE
You contact directly several insurers who will each supply you with the details of their policy. You assess the merits of each and pick the one that seems to suit your needs. Note that in this instance, each insurer has supplied general advice that is not based on your actual needs and situation.

PERSONAL ADVICE
You approach and request assistance from a General Insurance Broker who will take into consideration your personal circumstances, your personal objectives and financial situation.

Which advisory path is right for you?

Opinions from friends and promotional brochures from insurance companies all have their place and so too, the internet can be a useful source of information - even though sometimes contradictory and often just plain wrong.

Specialist advice from a licensed insurance broker however will prove to be the safeguard you need when your assets are at stake.

Your broker plays an important specialist role and does the hard yards to provide clients with well considered choice from multiple offerings from insurance companies. You can also count on support from your broker when it all goes pear shaped and it's time to make a claim. Most important of all, your broker works for you not the insurance company and must adhere to strict operational and financial guidelines as set down in government legislation. Your overall protection is therefore extensive and assured.

Freedom of choice is a wonderful thing. Who will you call?

 

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The Devil is in the Detail

Many businesses become involved in contractual arrangements which will require agreement and signature. These contracts will naturally cover a wide range of different circumstances including labour hire, work performance, rentals or lease of premises or equipment.

Most contracts impose certain requirements and many contain severe penalties for non performance. Contracts that relate to insurance may use the term ‘indemnify, ‘indemnity' or similar.

In some instances, insurance protection may not be available or if available, may be at a very high premium. An example is the lawn mower man who wanted the job of mowing the small, front lawn of a large conglomerate. To win the job, he was given a contract which he signed and then discovered that he could not obtain insurance to meet all the contract requirements. He also found the few conditions he could obtain insurance protection, to the level the contract required, would cost him more than he quoted to mow the lawn.

Make sure the terms of a contract are acceptable to you. Have the contract checked by your lawyer and insurance broker before you sign. Your signature is your agreement that you signed it based on an informed decision.

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Pool Safety - New Laws

Queensland has some of Australia's toughest swimming pool safety laws and since they were introduced in 1991, the number of child drownings has halved. Even so the statistics are still unacceptable as over the past three years, 18 young Queenslanders have drowned in private swimming pools.

In December 2008, the Queensland Government announced the most comprehensive review of the state's swimming pool safety laws in nearly 20 years. The review focused on reducing the number of drownings and serious immersion injuries in swimming pools involving children less than five years of age.

The result is a series of new laws governing pool safety. Stage 1 was introduced on 1 December 2009 and applies to new residential pools. The final stage, stage 2, commenced on 1 December 2010 and mostly affects existing swimming pools.
There is now one pool safety standard in Queensland that replaces 11 different pool safety standards. Under the new swimming pool safety laws:
• A pool safety certificate, issued by a licensed pool safety inspector, is required when selling, buying or leasing a property with a pool (pool safety certificates are valid for one year for a shared pool and two years for a non-shared pool).
• The pool safety standard applies to all pools associated with houses, units, hotels, motels, backpacker hostels, caravan parks, mobile van parks and other forms of short-term accommodation.
• The pool safety standard applies to indoor pools as well as outdoor pools.
• All swimming pools need to be included on the state-based pool safety register.
• Safety barriers are mandatory for all portable pools and spas deeper than 300 millimetres.
The pool safety register is being populated with Local Governments' records of regulated pools across Queensland. You can now search for a property and view details of the most recent pool safety certificate if one has been issued for that property. If the register shows that there is a current pool safety certificate for a property this can be relied on for any sale or lease of a property with a regulated pool.
The deadline for pool registration has been extended by six months to enable the government and the community to focus on flood and cyclone recovery efforts. Pool owners now have until 4 November 2011 to ensure their pool is registered. Penalties of up to $2,000 for non-compliance will apply after this time.
Pool owners have until 30 November 2015 to comply with the new pool safety standards, or earlier if their property is sold or leased before then.

This is only a brief summary of the new regulations; extensive information is available on the Qld Government website.

www.qld.gov.au/poolsafety

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Caring for Clients

PB Insurance is extremely dedicated to providing our Clients with a high level of Service with Insurance Solutions
To ensure our Clients are being well looked after with other financial aspects of their Personal and Business Life we have also decided to assist our Clients with Services such as Wills and Estate Planning, Tax and Accounting Services, Finance and Life Insurance, Income Protection and Financial Planning. We can provide these Services by referring you to trusted experts in these fields
We have carefully and diligently selected highly competent Professionals and developed a System where we can refer our Clients to the above areas and receive regular feedback on progress and outcomes. This way we know your important needs are being catered for and appropriate solutions reached
By adopting this approach our Clients gain the following advantages:
- Eliminates time taken to source trusted Professionals
- Good outcomes will be achieved
- Peace of Mind to know you will obtain the same level of Service you enjoy at PB
We like to take great care and responsibility to make sure our Clients affairs are well taken care and we look forward to being able to refer you for these Services
Please talk to your Account Manager to take advantage of this opportunity

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Management Liability

Many companies, their directors and senior managers unwittingly allow themselves and their personal possessions to be exposed to litigation that is occurring more regularly than ever before. Without adequate insurance protection you could risk losing not only your business but also your personal assets.

Think about the principal activities of your business and the competitive and regulated environment in which it operates. The exposures associated with operating an organisation are often unknown, but can often centre around OH&S or employment practices, matters of employing staff, fines and penalties associated with WorkCover matters and loss of money, securities or other tangible property resulting from fraudulent or dishonest acts of employees.

Defence and investigation costs alone can be financially crippling for businesses and individuals.

The simple solution is Management Liability Insurance.

 

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A Disaster Waiting to Happen

Using handheld mobile phones while driving - the law is clear but many of us have done it and many of us get away with it. Here's a story about a driver who didn't get away with it - as reported in a recent case before the Fair Work Australia tribunal.

A professional truck driver was seen by several witnesses using a mobile phone while at the wheel of a fuel tanker - you know, those steel missiles containing umpteen thousand litres of high octane fuel.

The driver had been previously warned by his employer for similar behaviour. The employer's policy on mobile phone use prohibited professional transport drivers from using hand held devices while driving. The employee admitted that he was aware of the employer's mobile phone policy and was duly sacked for serious misconduct.

The employee took his employer to the Fair Work Australia tribunal on the grounds of unfair dismissal.

Evidence at the tribunal heard testimony from 3 witnesses and other evidence which included a GPS report for the tanker, driven by the employee, showing that on the same day the employee had made nine calls or texts while driving the tanker, which the employee admitted to. This and other evidence clearly demonstrated that the employee had been in breach of his employment conditions and that the employer had done everything fair, legal and by the book in sacking him. In fact, had he not done so, the consequences to the employer company could have been very serious had an accident occurred subsequent to the employer being aware of the employee's misconduct. It could:
• adversely impact on the employer's insurance premiums or cause the insurer to decline indemnity in the event of an accident;
• impact adversely on the employer's reputation and thus upon its business; and
• have adverse consequences in relation to the employer's duty of care and other obligations to fellow employees and members of the public including, potentially, exposing the employer to liability.
In dismissing the employee's application the tribunal found that the employee's repeated and flagrant breaches of the employer's policy and the driving laws were extremely serious matters and constituted gross and wilful misconduct.

Lessons for Employers

• It is important to have clear and consistent policies dealing with employee conduct.
• Employers should ensure that they adequately investigate employee misconduct.
• Fair Work Australia will consider the onerous obligations, for example workplace health and safety obligations, imposed on employers in "high risk" industries in terms of employee conduct and the seriousness of that conduct.

Reference: Ben Starkey v Cootes Transport Group Pty Ltd [2011] FWA 228

Information in this article is provided by the Queensland Council of Insurance Brokers - CQIB
"This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice"

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What’s new at PBI

We welcome two new staff members to our team, Jayne Perrior and Jamie Grigg.

Jamie along with Chanece Halligan will be supporting Ian Yeo to service his clients, with Jayne filling our Domestic Broker role previously managed by Wayne Keogh.

Wayne will now be assisting Bill Higginson with Bill's previous assistant Tanya Thompson taking on a new role to support Ian with the growing Student Accommodation Industry (please see article in this edition).

Jennifer Bettridge will now be assisted by Brett Doyle with Andrea Niebling and Tiahna McDonald forming our final team.

Our other friendly staff members are all still here, so if you do notice that you have been directed to a different member of our team or you don't recognise a name on correspondence, rest assured we are all still here just changing our structure to provide a better service to you our valued client.

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Your Policy Wording Explains it all

Insurance policies are complex contracts containing a myriad of conditions and exclusions and every insurer it seems uses different words, sentences and phrases in their policy wording documentation.
With every household and motor insurance policy purchased comes a booklet called a Product Disclosure Statement (PDS). Whilst all business related insurances have the terms of the contract with the insurer detailed in the Policy document that the insurer provides.
Granted, PDS booklets and Policy documents can be a dry old read but your understanding of the insurance cover you have purchased makes them essential reading. That sinking feeling in the pit of your stomach is all too real when a claimable event occurs and you find out that you didn't have the cover you thought you had.
A recent Policy Wording Readership survey of 1006 Australian small businesses (defined as those with less than 20 full-time employees) revealed that:
• 24% of clients always read the document
• 11% never read
• 26% only skimmed
• 10% rarely read
• 28% occasionally read
That suggests a whopping 75% of small business owners have no idea or next to no idea about what they are covered for under their business insurance policies. This huge margin of blissful ignorance by the small business sector is likely to be echoed at the domestic insurance level.
As with any contract, all the information is relevant and important and the best advice would be to read it from cover to cover.

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Education -  is that the key?

Once again the issue of underinsurance has been raised after the recent string of natural disasters. Should there be some government and industry commitment to improving community understanding of insurance products?
Financial literacy programs have tended to focus on banking transactions and credit cards, not basic insurance information. There is no doubt that ownership and understanding of insurance policies is considerably higher among those people with higher financial literacy. Although even among those who have policies the understanding of how they work is quite low.
A high percentage of people are not aware that a claim can be rejected on the grounds of not meeting their duty of disclosure, while many do not consider reviewing their level of cover upon renewal to allow for growth in their business or rising property values. There needs to be awareness not only of the insurers' obligations to consumers but the obligation of the consumer to the insurer. We also need to increase the capability of people to understand risk, how much you are willing to bear yourself and how much you are prepared to offload to others.
Whilst providing online education is good it is still up to the community to seek it out and use it. Should we be targeting our school children with the inclusion of financial education into the curriculum? Of course for that to be successful, first we must provide some teacher training. Educating future generations will however take several years for the results to become obvious.
Another question to ask is - should we make financial literacy education a requirement in exchange for assistance? For example, should those who received government assistance after the recent floods be required to undertake some financial literacy training in return for the payment?
Whatever the solution surely it is time to stop talking and take action on this issue to increase the understanding that the community has of insurance products.

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Burglars on the job

For his book ‘Burglars on the Job', criminology professor, Richard Wright, interviewed active burglars.

The result was some candid revelations about their ‘job' and their ‘targets'.

• Burglars usually know the occupants.

• Offenders choose targets over time, by watching a dwelling to learn the occupant's routine.

• The appearance of the residence and the vehicles give clues to the valuables inside. The toys in the yard give a clue to the expensive electronic games lying around inside.

• Burglars generally prefer a point of entry hidden from the street.

• Tricks to create the illusion that someone is home are ineffective: radios or televisions blaring do not deter a break-in.

• Many burglars approach a residence in the guise of being workmen (masquerading as service technicians or delivery men is common), or to ask for directions.

• They check occupancy by ringing door bells, knocking on doors, or calling on the telephone (name and address details can be found in the letterbox).

• Burglars will break a window to get in. If your neighbour hears a noise, he'll stop what he is doing and wait to hear it again. If he doesn't hear it again, he'll go back to what he was doing. It's human nature.

• The master bedroom is usually the first place hit, burglars know they will often find expensive and easy to carry valuables in the master bedroom.

• The kitchen is usually next; burglars are aware that many people keep cash stuffed in the freezer or jewelry in a jar in the fridge.

• Next are the bathroom and the medicine cabinet, mostly in search of drugs and cash.

Your best protection as always - know your enemy, be vigilant, bolt up, lock down and insure for full replacement value.

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Welcome to Sienna Keogh

Congratulations to Wayne and Jodi who welcomed a baby girl on April 11th - Sienna. All are well and Sienna has had her first visit to the office.

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Managing a crisis in your business

Managing a crisis in your business.

Being in business in today's environment is hard work, with the businessperson having to keep a close eye on many aspects of the business, from marketing to cash flow and compliance. The estimated rate of failure increases dramatically following a major event such as flood, fire or significant storm damage.

Owners are now faced with additional tasks at a time when they have just suffered a major trauma. Market share needs to be protected, staff morale maintained, rebuilding managed, sourcing and replacement of stock organised and, of course, management of the claims process. Each of these additional tasks can be a full time job in itself.

You need to have a crisis management strategy and I consider the first part of this strategy is to appoint a loss manager/claims preparer. Some people may not be familiar with this term; when a major loss occurs the insurer will appoint a loss adjuster to adjust the claim on its behalf. The loss adjuster is appointed by the insurer and gives the appearance of working for them. A loss manager/claims preparer is appointed by the insured or their broker and should be someone with accounting qualifications and years of crisis and loss management experience.

Most people are not aware that the cost of this loss management service is usually covered by their insurance program. A good loss manager will not merely qualify the loss and present to the insurer via the loss adjuster, but will provide management advice, emotional support and introduce trusted contractors.

I can not emphasise enough how much difference this will make to the management and outcome of your claim. Your broker should be able to recommend a suitable loss manager or I highly recommend someone such as The LMI Group - www.lmigroup.com.

"This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice"

 

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Care and Maintenance - your responsibility

Maintenance versus loss

The requirement to take reasonable care to protect and maintain your property is contained in all household and commercial policies and extends also to your duty to protect against accident or injury to people. As such, your insurance company may not pay for loss, damage, liability or injury if poor maintenance or lack of reasonable care by you the insured is deemed the cause.

Water Damage

A common area for disputes between claimants and insurers for damage to property is that of water damage. If, on assessment of the damage, it is noticed that the extent of the water damage could not have been caused by one single event and that gradual seepage has been occurring for some time due to loose of missing roof tiles or a knowingly leaking apparatus, then your insurer can reduce the amount of your claim.

Storm Damage

Insurers will pay for the removal of those parts of a fallen tree that have damaged your property, but not those remaining parts or others that following a storm might now pose a threat. If you are worried about old overhanging trees and precarious branches affecting your property then you should contact a tree specialist to have them attended to.

Machinery Breakdown

This is another area of regular contention. Again, for the simple reason that any loss must be sudden and unforseen and result in the failure of the item to perform its normal function. Expendable items such as belts, fuses, heating elements, wear plates and cutting tools are not covered by your breakdown policy. Every breakdown policy is slightly different and may contain optional extensions for food spoilage and other types of consequential loss so be sure to discuss your policy with your broker to be clear on what you can expect from it.

A policy for machinery breakdown should not be considered as a replacement for a machinery maintenance program but should complement it and cover your expenses from unforseen breakdowns that occur outside of normal scheduled maintenance.

Information in this article provided by Queensland Council of Insurance Brokers - CQIB.

This article is provided as information only. It is not general or insurance broking or legal advice. It is important you seek advice relevant to your particular circumstance.

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Company Directors at Risk

Directors and Officers Insurance
 
It is widely believed that the current financial crisis will lead to an increasingly litigious environment. This has already been very much evidenced at the ‘top end of town' by the number of class actions that have been and are being brought against companies. But all Directors of all businesses need appropriate protection due to the array of litigation they could potentially face on a personal level.
 
Directors and Officers of any Company are personally liable for everything they do in their capacity as a Director or Executive Officer of the Company. The limitation of liability enjoyed by a company does not extend to its Directors. To make matters worse, Section 241 of the Corporations Law limits the ability of a Company to indemnify its Directors and Officers against these liabilities until after an individual has successfully defended a claim.
 
Directors should also be aware that they are jointly liable for the acts of fellow Directors and that the courts have placed onerous conditions on the ability to avoid joint liability.
 
There are many parties who, under certain circumstances, may take action against Directors and Officers of a Company. These include shareholders, employees, creditors, clients/customers, parties to commercial transactions, government and regulatory authorities and the general public. Liability for such actions can arise at common law or from statutory provisions, the applicability of which varies amongst the parties mentioned.
 
The current environment also places additional pressures on Directors and many individuals are very concerned about their personal exposures. Insolvency practitioners can and do lodge claims against Directors alleging that companies had continued trading whilst they were in fact insolvent. The current business climate and attendant risks dictate the essential nature of appropriate insurance protection for Company Directors and Officers.
 
The realisation of all of the above is having the effect of increasing premiums in this class of business and now is an opportune and important time for Directors to review their current arrangements through the advice of their insurance broker.n
 
Information in this article provided by Queensland Council of Insurance Brokers - CQIB.
 
This article is provided as information only. It is not general or insurance broking or legal advice. It is important you seek advice relevant to your particular circumstance.

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Cyber Crime

Coming soon .... To a computer near you
 
Many of us in the modern day business world do not pretend to fully understand the workings of computers; rather, we just embrace the technology and receive the benefits that information technology brings to our success. Needless to say, there wouldn't be that many businesses these days that could operate effectively without computers. Especially as customer information is crucial to most organisations and vital to our being able to deliver on the services we provide.
 
So while we place our trust in the continuing Information Technology wave and the equipment needed to help with the growth and running of our businesses, behind the scenes, computer hardware and software companies worldwide are engaged in a constant battle against evermore sophisticated cyber criminals trying to steal valuable data. As with any battle there are casualties and that means businesses of all shapes and sizes are caught in the crossfire and end up bearing the cost.
 
Traditional Commercial Property and Liability insurances contain cyber exclusion clauses which mean that the cost of downtime to your business or liability to others caused by data corruption or cyber crime will not be met.
 
There is much discussion in government surrounding changes to the current data protection legislation and if we follow the likely lead of the USA then individual companies will be more accountable for breaches in data that they hold. If major banks and government offices can be breached then what chance do the rest of us have if targeted by the cyber criminal?
 
Specialist cyber insurance cover is available to protect your business against the costs of downtime, data restoration and for breaches of your statutory obligation towards customer's data that you hold as a consequence of cyber attack.n
 
Information in this article provided by Queensland Council of Insurance Brokers - CQIB.
 
This article is provided as information only. It is not general or insurance broking or legal advice. It is important you seek advice relevant to your particular circumstance.

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Who is going to pay?

Here we go again - following the torrential rain in Queensland, the question of whether water damage to property is classified as storm or flood and therefore covered by your insurance policy - raises its head.
 
Insurers have always covered storm damage - wind toppling trees onto houses, lightning, hail, rainwater getting into roof cavities as drainage and guttering failing to cope - while excluding flood (with the exception of a few). In general flood is defined in policies as "the inundation of normally dry land by water escaping or released from the normal confines of any natural watercourse or lake, any reservoir, channel, canal or dam".
 
Insurance companies are going to extraordinary measures in the event of a water damage claim to justify their decisions, with the use of hydrologists interviewing the insured, asking what happened, where the water came from, what time it arrived and from which direction and if it was clean or dirty. Then some pay and some don't.
 
The question is; shouldn't all insurance policies cover flood? Isn't insurance about pricing risks rather than excluding them? Simple questions to answer, but who pays? By who, I mean should every consumer have their policy levied to take in this risk or should it be decided by using flood maps and conducting surveys? Should those who will possibly be affected be paying higher premiums? Those who aren't at risk of flood don't want to pay a premium for those who are.
 
Either way the insurance industry needs to find a solution. The publicity following events such as the current flooding in Queensland, where people find they have no cover for flood damage continues to tarnish their reputation. There will, I am sure, be plenty of people appearing on current affair programs happy to tell everyone how mean the insurance companies are. Their response is guaranteed to be ‘people should read their policy wording' - and who does that? It needs to be made clearer or just include the cover.

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Our thoughts are with you all

We have, of course, been very busy with managing claims and do ask for your patience at this time. Maree and Jane and your account manager are working hard to get the best possible result for you.

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Closing Between Christmas and New Year

We will close at 4pm on Friday 24th December and reopen on Tuesday 4th January. We would like to wish everyone a Merry Christmas and a very Happy New Year.

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Congratulations Wayne

Some of us were fortunate to join Wayne and Jodi to help celebrate their wedding this month. The day was lovely and the bride and groom both looked wonderful. We wish them all the very best.

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Statutory Liability

In December 2008 a 38 year old male truck driver sustained injuries to his face while unloading a trailer.
The court found the company held obligations under the Workplace Health and Safety Act 1995, as a person conducting a business or undertaking.

The investigation findings presented to the court alleged the defendant did not use exclusion zones. Workers were told to stand clear while forklifts unloaded. Meaningful information or direction on how to stay clear of any hazards was not provided.

Even though the injured driver was not employed by the defendant, (his employer was contracted to provide the services), in July 2010 the Magistrate ordered the defendant pay a penalty of $32 000 as well as costs totaling $2700.20.

An earthmoving contractor who constructed a groundwater retention pond was prosecuted and fined under the Resource Management Act for polluting, when the pond wall failed and sediment from the earthworks ran into a nearby stream.
 
Companies and individuals face an increasing emphasis on the use of fines and pecuniary penalties as sanctions for corporate conduct.
 
Whether it is a legal challenge or a regulatory investigation, once the organisation is challenged the costs start accumulating. Actions can be stressful and protracted. But there is also so much at risk - including company or professional reputations, personal assets, director disqualification or even a prison sentence.
 
Statutory Liability Insurance covers all Acts administered by Commonwealth, State and Local Government and is designed to protect your company and its directors, officers and management against liability for statutory fines and penalties as a consequence of an unintentional breach of an act or regulation.

"This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice"

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Fidelity Insurance - What is it?

Being the victim of fraud is unnerving for business at any time. Not only can it impact on the business financially it can damage the reputation of an organisation. The recent siphoning off of $20 million from Clive Peters by an employee highlights how large an issue it can be. Unfortunately the probability of fraud being perpetrated is much higher in times of recession.
 
It is difficult to accurately profile fraudsters but based on statistics from KPMG, the typical criminal is a 38 year old male who has been employed for at least six years and held the same position for around four years. Usually working in finance or sales, he is motivated by greed and often has some kind of addiction.
 
Before painting every employee as a potential criminal, it should be noted that an employee may commit an error which, if detected, can be easily explained as a mistake. Unfortunately if appropriate controls are not in place and the matter goes undetected, an employee may, after realising the personal gain, take advantage of the control breakdown and continue to deliberately repeat the error.
 
Some prevention strategies include:

• Review and improve internal controls
• Develop codes of conduct
• Train managers and other staff in fraud awareness
• Screen all new employees
• Perform due diligence on suppliers and business partners

Fidelity insurance protects an organisation from the loss of money, securities or inventory resulting from dishonest acts of your employees.
 
Fraud is not a victimless crime. The costs can be high, so prevention is paramount to running a successful business.

"This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice"

 

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Welcome back Tanya

We would like to welcome Tanya back from maternity leave. Alex is now six months old and a gorgeous, chubby boy.

Tanya is back in her role as an account manager assistant.

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Winner of Accor Gift Card

The lucky winner of the $500 Accor Gift Card has been notified. We have a very happy client planning a getaway. The winner has been a loyal client of PBI for over 13 years and we would like to thank her for her ongoing business.

A big thank you to everyone else that returned the survey to us. Your feedback is very valuable.

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Climate Change - we can’t ignore it

Severe bushfires in one part of Australia, flooding in another at the same time... Climate change is a serious threat facing Australia today. Whatever the debate about climate change, there is little doubt that we are already seeing an increase in the frequency and severity of extreme weather-related events.

Exacerbating the potential of damage is urban and non-urban development in zones of escalating climate and weather hazards - often built to standards that fail to account for the increasing weather risks.

Floods and storms can be devastating for property and business owners. However, the extent of damage can often be significantly reduced with good planning and preventative measures.

Ensure that your buildings and roof structures are intact and don't leak
Ensure the roof, windows and doors are safely secured to the building wall structure
Prepare an emergency plan that you can activate at short notice in the event of a storm or flood warning
Check your buildings' surroundings. Monitor trees for overhanging branches and secure loose property in your yard that could blow away and cause damage
Put your business-critical equipment in an elevated location where possible

As you assess your flood or storm risk, ensure that you look at your insurance protection as well. Will a damage impact only your property, or will it also impact your business? How long are you likely to be out of business? Is your equipment or any stock at risk? Who will look after the removal of any debris?

It is important to know that insurance policies are not all the same in this regard, and some cover you better than others for flood events. Your insurance broker is the expert who can answer your questions and to ensure that you have the right protection for the particular risks you are exposed to.

'Copyright Zurich Financial Services Australia Ltd, 2010'

 

“This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

 

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Insurance Form

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$500 Accor Hotels Gift Card to be won

This month we are sending all our clients a Survey form to complete and return to us by 24th September to go into the draw to win a $500 Accor Hotels Gift card. If you have not received your form please contact Chris on 07 5495 5355 or enquiries@pbinsurance.com.au so she can send you one.

Good luck everyone!

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Can you afford the gap?

The dangers of underinsurance for businesses are obvious - you are not fully protected against the impact of an unexpected event. And yet over half of Australian small businesses are underinsured and at risk.

If you need to make a claim you may be in for an unpleasant surprise! Could you afford the gap?

Some of the most common mistakes made include:

• Underestimating the reinstatement costs of buildings
• Not allowing for engineering or architectural fees when determining the sum insured
• Underestimating the cost of replacing plant and equipment
• Underestimating the removal of debris costs
• Reviewing the sums insured each year
• Lack of business interruption insurance
• Lack of additional increased cost of working cover

In the case of underinsurance, Insurance companies will only pay a percentage of the value of the loss.

For example:

If you have a building insured for $500,000, and suffer a loss of $200,000, but the value at the time of the risk is $800,000, the Insurance Company will adjust the claim as follows:
Adjusted loss = (Declared value / Actual value) x Loss amount
Adjusted loss = (500,000 / 800,000) x 200,000
Adjusted loss = $125,000

In this instance the insured would be $75,000 out of pocket.

While underinsurance is across all sections of a policy the three main ones are:

Extra Cost of Reinstatement - In addition to the property values which people tend to roll year-on-year, damage can trigger a requirement to comply with building codes that were not current when the original building was erected. Governments have also moved to regulate water and energy saving devices for domestic and commercial buildings.

Removal of debris - People are unaware of how high the costs are to remove debris after a fire.

Business Interruption - Over half of businesses fail after a major loss mainly due in underinsurance. There is an ‘It will never happen to me' attitude where people focus on the premium and how much they can save. They need to talk to their insurance broker to get advice, as they would talk to their accountant or solicitor.

It is important to obtain a correct assessment of the value of your business and assets when taking out an insurance policy. P B Insurance strongly recommends business owners review their sum insured each year, to include any increase in property value, new assets, or renovations, think about it. Are you underinsured?

 

“This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

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Corporate Travel Insurance

If you or your employees are required to travel either internationally or domestically while on business, you should make sure your organisations isn’t exposed to significant expenses they can incur. Expenses for medical treatment, emergency medical evacuation, flight cancellations or lost luggage are just a few of the common costs that companies can face when on business trips.

The Department of Foreign Affairs and Trade assists more than 20,000 Australian travelers a year in difficulty, including over 700 hospitalisations, 600 deaths and 100 evacuations to another location for medical purposes.

World events resulting from political and social unrest have further increased the risk of business travelling. So now it is even more important for organisations with overseas or domestic travel commitments to ensure their corporate travel insurance is adequate.

The recent volcanic eruption in Iceland caused major disruption to air travel worldwide. Those people who had a corporate travel policy and had their trip booked and paid for before the issue was apparent were covered for the cancellation of their ticket, or temporary accommodation and additional expenses.

A little known benefit is the reimbursement of the excess or deductible (normally $2,500 or more) payable under a comprehensive motor insurance policy in respect to the loss by theft, collision or damage to a rental vehicle.

Some other key benefits of a Corporate Travel Policy include:

• Annual premium with no prior declaration of trips required
• Personal injury and medical expenses
• Luggage, money, travel documents
• Political and natural disaster evacuation
• Medical expenses insured for up to 24 months after the journey
• Family assistance

Having an annual corporate travel policy will provide automatic cover for you and your employees for domestic or international travel and will save you the hassle of remembering to take out cover for each trip.

 

“This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

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Good Intentions are Not Enough

The evolution of legislation such as the Corporations Act, has created a greater need for compliance with regulatory and corporate governance standards. To add to this, the recent global financial crisis has led to an increasingly litigious world.

Specific duties and responsibilities are imposed on directors and officers as to the conduct in which you run a business. Directors and Officers (D&O) Liability Insurance is designed to protect you against claims arising from your actions and decisions in your official capacities.

Any inadvertent failure to disclose information, an omission, a misstatement or a decision taken which has an unintended result can lead to action against you. Being held accountable for actions of others cannot be ruled out, even if you have not engaged in any misconduct.

The cost to defend even a relatively simple matter can be crippling. D&O Insurance is therefore a wise investment for directors and officers to make, to protect their personal liability in the event of court action.

You are at risk of claims by:

• Shareholders alleging misrepresentation in financial statements
• ASIC for breaches of the Corporations Act
• ACCC for breaches of the Trade Practices Act
• The ATO for tax owed by the company
• Employees for unfair dismissal, discrimination or sexual harassment
• Creditors for debts incurred when the company was insolvent, and
• Competitors for defamation, copyright or infringement of patent

D&O Liability Insurance provides essential protection if you have to fund your own legal defence and meet any damages. A policy will cover you when the company has not agreed to indemnify you, without cover your own assets are at risk.

 

“This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

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Pardon the interruption

Many smart business owners have ensured that they are adequately insured for material damage, liability and wages cover in the event of a disaster at work, such as a fire, flood, natural disaster or severe technology breakdown. There will also be a small percentage of businesses that are very well prepared, have contingency plans in place and have considered insuring lost earnings and the costs and time required to restart a business. Unfortunately, most businesses learn the hard way that Business Interruption insurance can be the difference between success and failure.

A recent survey of 2,500 small businesses in the US suggests that over 70% did not have a disaster plan in place, almost two-thirds felt contingency plans were unnecessary and over 60% were confident that business could be resumed within 72 hours after a natural disaster 1. Common sense and factual studies have shown 72 hours recovery time to be highly improbable in most cases.

A window of 72 hours is a substantial underestimation given that disaster recovery may result in one or all of the following scenarios:

• Rebuilding of premises or acquisition of new premises (either short term or long term)
• Replacement of specialist goods, parts and /or machinery (allowing time for manufacture and delivery)
• Awaiting outcomes of any investigations into the disaster, legal, criminal or otherwise

Consider also the elements that are more difficult to quantify: emotional stress for the owner, disruption to the staff and potential customer loss of confidence. The increased cost of operating under these circumstances and the effect on your cash flow, with or without a contingency plan, is likely to be substantial.

In fact, studies have shown that of businesses suffering a major crisis, such as a fire, as many as 70% could not return to their pre-loss form within three years after the crisis occurring 2.

Given that recovery time may realistically take as long as eighteen months it is crucial to understand if your business could sustain trading with disruption over such a timeframe. PBI have valuable experience in this field and are happy to discuss your business to understand what kind of Business Interruption insurance you may need to ensure a safe future for your business, your staff and your profits.

1. Childs, D.R. (2008) "Prepare for the worst, plan for the best: disaster preparedness and recovery for small businesses", John Wiley & Sons
2. Knight, R.F. & Pretty, D.J. (1998) "The impact of catastrophes on shareholder value", The Oxford Executive Research Briefings, Templeton College

   “This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

 

 

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Why use a broker?

Insurance is complex, particularly in the commercial arena. It is crucial to the success of your business that you have the RIGHT cover should disaster strike. Using an insurance broker could be the best decision you make for your business' bottom line. Brokers work for you not the insurance companies and can advise what is best for YOU, not the insurers. Consequently, the policies you chose in conjunction with a broker will ensure you are only paying for the cover you actually need, negotiated to suit your budget.

Just like an accountant or lawyer who provides you with professional advice, based on years of training and experience, a qualified broker can do the same with your insurance.

A good broker will be aware of the benefits, exclusions and costs of competing policies on the market. They will also help arrange and place the cover and can often provide advice on how to make the most of your insurance budget.

Insurance brokers are trained, regulated and monitored by ASIC to ensure you receive the most accurate, appropriate advice for your needs.

When arranging insurance without dedicated professional advice, many people take shortcuts and fail to understand the policies they are purchasing. Often they are disappointed when their insurance doesn't respond as they had believed in the event of a claim.

Going direct to an insurer may appear to be cheaper on the surface but you need to consider your level of risk and insurance carefully. A broker can guide you through the process, from enquiry all the way to satisfaction of a claim, should the need arise. Understanding the vast range of products on the market and the processes involved requires a lifetime of learning so save yourself the time and effort to focus on doing what you do best - running your business.

“This article provides a factual summary only of the product(s) we offer. It is not intended to be advice and you should not rely on it as a substitute for any form of advice”

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New Team Members Join PBI

We would like to extend a warm welcome to Andrea Niebling, our newest Account Manager who brings with her several years of experience in the general broking industry. Kira VanStraalen also rejoins us after being away for six years, she has taken on the role of Account Manager Assistant and we are very happy that she has decided to return.

Also a little of a belated welcome to Chris Ashcroft who has been with us since April. We would like to thank Chris for taking wonderful control of reception and all it's related duties.

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Home & Contents Calculators

To calculate the sums insured for your home and contents policy, please click on the links below.

Home Buildings

http://secure.cordell.com.au/valuer_residential/index.php?p=45&from_admin=1

Home Contents

http://www.homecontents.com.au/index.php?c=web_intro&profile=suminsured_standard

Disclaimer

Typical building replacement costs are provided by Reed Business Information Pty Ltd (A.B.N. 80 132 719 861) trading as Reed Construction Data (‘Reed') and typical building contents replacement costs are provided by Sum Insured Pty Ltd (A.B.N. 55 947 630 521 (‘SI') trading as Home Contents. Whilst every care is taken to ensure the accuracy of the information as a guide for costing, no responsibility is accepted by either Reed, SI, Steadfast or the Steadfast Broker for its accuracy. Please check with an Architect, Builder, Quantity Surveyor, Valuer or other suitably qualified professional for an accurate estimate. Neither Steadfast nor the Steadfast Broker takes any responsibility for the costs provided by Reed or SI nor any liability for the accuracy of or reliance upon or use of, the costs. To the fullest extent permitted by law, Reed, SI, Steadfast and the Steadfast Broker expressly disclaim all warranties, express or implied, including, but not limited to, the implied warranty of fitness for a particular purpose. Reed, SI, Steadfast and the Steadfast Broker do not warrant or make any representations regarding the use or the results of the use of the information provided in terms of its correctness, accuracy, reliability, or otherwise."

 

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Transit Cover

• If your vessel is being transported anywhere in Australia by road and you need transit cover, then contact us for a competitive quote.
• Your vessel will be covered for any accidental damage caused whilst in transit from point A (Place Of Purchase) to point B (Place of Destination)
• Local claims service

 

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Comprehensive Cover

Some of the benefits of our comprehensive cover include:

• Exclusive Club Marine Assist - View more information
• Once off Transit Cover within Australia
• Choice of Market Value or Agreed Value (subject to valuation up to 20 years of age)
• Agreed Value for 2 years on new vessels
• Fishing Gear, Water Ski Equipment, Diving Equipment (including compressors) and Tools increased limit to $1,000 for each item and $10,000 in total
• Personal Effects, including personal items belonging to you or your immediate family covering clothing, shoes, waterproof gear, prescription sunglasses and manchester increased limit to $1,000 for each item and $10,000 in total
• Mechanical Breakdown - Loss resulting from mechanical breakdown for up to (8) years from the date of manufacture
• Local claims service

For more information about this policy, please download our pdf here.

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Boat Insurance

Please choose your cover:

Comprehensive Policy (including one off transit)

or

Transit Policy

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Success

Thankyour, your claim has been submitted.

Someone will be in contact with you within 24 hours regarding your claim.

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CTP rewards

To receive your $20 fuel voucher please print the PDF below and return to QBE using one of the options listed on the form.

Please click here to download CTP rewards PDF

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Success

Thankyou, your enquiry has been submitted.

You will be contacted within 48 hours regarding your enquiry.

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PBi brings marine business insurance right up to date

It is believed that marine insurance is one of the oldest forms of insurance in the world, dating all the way back to the early 1600s. Originally developed for shipbuilders and merchant transporting, the world of marine insurance has become increasingly complex. Operating in the ‘marine playground’ of coastal Queensland, the increase of the marine leisure industry has been just one of the changing trends to this age old industry that PBi have observed.

Having always focused on delivering the best insurance options for business clients, the team here at PBi have now become specialists in marine business insurance. We service the insurance needs for businesses that support both commercial and private marine activity, from boat builders, to boat dealers, to leisure craft operators.

One such client is Brisbane Yamaha who specialise in trailer boat sales and servicing. Aaron Goodchild, the dealer principal explains “I recently needed to insure a boat dealership and found most companies weren’t interested in helping me. I contacted PBi and they listened to me and to what I needed. Their service was prompt and professional, and to top it off, my coverage cost me less than half the price of the other quotes I received.”

Any businesses looking for specialist marine insurance products and a company that really understands their needs can contact us today for more information.

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Links

Coming Soon…

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Privacy Policy

We know that your privacy is important to you, so it’s important to us as well.

You can read the full details of our privacy policy below. As a quick summary:
• We only ask for personal information that we require.
• We’ll tell you what information we have recorded about you.
• If you would like any personal information changed or deleted, just ask.

Who we are

Full contact information is available at the bottom of this page.

What we know about you

When you visit our Web site, our Web server automatically records some general information about your visit, but does not recognise or record any individual information about you. The information we record and use for statistical purposes is:

• Your server address
• The date and time
• The pages accessed and documents downloaded
• The previous site visited
• The type of browser used

We can only identify you personally if you give us this information voluntarily.

We use a cookie to control pop-up windows, so that we don’t annoy you with lots of pop-up windows every time you visit the site.
If you visit the site using one of our affiliate’s links, we use a cookie to keep track of your visit, so that we can correctly pay the affiliate a commission if you make a purchase.

Your e-mail address

We do not know your e-mail address unless you give it to us. We only record your e-mail address if you send us a message, either directly or by signing up to our newsletters or on-line courses. We will use it only internally within the organisation, and will not disclose it to other organisations without your permission.
If you have given us your e-mail address, but do not want to receive e-mail from us in the future, please let us know by sending us e-mail at the above address.

How we use this information

We use this information to improve the content of our Web site and analyse what pages people visit, and to keep in touch with you.

Who has access to your information?

We use this information internally and share it with other people or organisations who need to know it as part of working with us in our normal business activities (e.g. sub-contractors).
We do not share your personal information with others except under these conditions, and we do not disclose or sell your personal information to others for use in mailing lists or databases.

Future Variations

If our information practices change at some time in the future we will post the policy changes to our Web site to notify you of these changes and provide you with the ability to opt out of these new uses. If you are concerned about how your information is used, you should check back at our Web site periodically.

Corrections

Upon request, we’ll tell you what information we have recorded about you. For your own protection, we generally ask you to make this request in writing, so that we can verify your identity (E-mail is too easy to forge!)

If any of the information is incorrect, or you want us to remove all information about you, please contact us and we’ll amend it promptly.
If you feel that this site is not following its stated information policy, please contact us at the above addresses or phone number.

In general, we value your privacy, and will only continue to correspond with you if either:

• you give us your e-mail address or postal address for this express purpose (for example, if you sign up to our newsletters or on-line courses, or request information about our products and services); or
• we have an existing business relationship (for example, you have bought our products or services).

In any case, if you do not wish to receive such mailings in the future, please let us know by sending us e-mail or writing to us.

More Information

If you would like to know more about on-line privacy, visit The Australian Privacy Commissioner’s Web site.

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LODGE A CLAIM

Our Claims Department is here to assist you in the smooth transition of a claim from first notification through to a satisfactory settlement.

click here to begin lodgment

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Contact Us

Contact our team today:

14 Annie Street
Caboolture
Qld 4510

PO Box 62
Caboolture
Qld 4510

P 07 5495 5355
F 07 5495 3537
E enquiries@pbinsurance.com.au
www.pbinsurance.com.au

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Business Tips

Remember that no business can exist without their customers. Take the time to understand why your customers deal with you and what they need from you. Consider mystery shopping your own business to find out what your customer service is really like.

Know when to ask for advice. Small business owners can’t necessarily be masters of everything. Outsourcing can ensure you get things done effectively and efficiently while you can spend time working on what you do best.

Plan ahead. Whether budgeting your income and expenditures, marketing your products or managing staff resource you should always have a plan for your business activity. Make it measurable and specific to keep your business moving forward.

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Articles & Videos

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Client Resources

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Lodge a Claim

Please fill out the following form and we will contact you regarding your claim.

 

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Claims

Suffering loss or damage causes stress to all involved. At PB Insurance it is our goal to minimise your stress by making our claims procedures as straightforward and efficient as possible. We have a dedicated support team to work with your PBI claims manager to assist with all claims to ensure they are settled promptly and effectively.

General Claims Procedures:
To enable us to manage your claims it is important for you to follow these simple steps to ensure the best outcomes: 

0. Whether the claim is reported or not take immediate steps to minimise further loss or damage. 
   This may include:
   -  Ensuring staff safety and the safety of nearby personnel if required
   -  Securing premises or vehicles to ensure no further loss
   -  Minor temporary repairs
   -  Locating replacement machinery if critical
   -  Arranging for towing of vehicle to secure location or covering of vehicle against water damage
0. Report the incident as soon as possible to PBI. This can be via telephone or email, or you can simply CLICK HERE to complete a claim form online. Outside of usual business hours you can contact your account executives via mobile (click here for out of hours contact details).
0. Complete all claims documents required as instructed by your PBI account manager. 
0. Never admit liability. Even if you may believe you are at fault admitting liability may affect your claim.

Our attention to detail and commitment to our clients at PBI ensures that claims, from simple to complex, are dealt with effectively.

“I wish to express my appreciation for the support rendered by PB Insurance with my recent Insurance claim dispute… Bill stood by me as my Broker, taking the first steps to rectify the situation by calling a meeting with the Insurance Company. I have no doubt in my mind that Bill’s insurance experience and presence with me in the meeting was the key to resolving the issue in question. My Broker “PB Insurance” of 20 odd years performed over and above in a time of need.” Troy Spring-Brown

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Industrial Risks Insurance

Do you need an insurance policy that is out of the ordinary?

Do you have a large organization with diverse operations?

Does your business hold high value physical assets or multiple locations?

PB Insurance provide dedicated support to provide the most robust Industrial Special Risks (ISR) insurance to cover the complexities your business may have. As business experts with a range of industry clients we take the time to understand your needs and develop the right solution. If you need a more comprehensive business insurance that will cater more substantially for loss expenses ISR should be considered.

We have developed a range of specialist products and solutions through approved insurance companies designed specifically in the ISR arena. These can be tailored to suit any complex business. Typically your ISR will cover your direct losses and your indirect expenses, such as loss of income and additional expenses incurred through damage.

To learn more about complying with Industrial Special Risks insurance requirements contact Ian Yeo or simply fill in the form below.

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Commercial Property Owners Insurance

Do you own commercial property? Are you suitably covered for you and your assets? Are you prepared for poor tenants or loss of rental income?

PB Insurance specialise in providing expert advice and solutions to commercial property owners to ensure ongoing financial security. We understand the complexities of ensuring ongoing return on your investment and the risks associated with leasing commercial property.

We have developed a range of specialist products and solutions through approved insurance companies designed specifically to address commercial property risks. Typically, these may include tenant damage, equipment breakdown, reduction in your rental income and liability involved with third parties at your property.

To learn more about complying with commercial property requirements contact Ian Yeo or simply fill in the form below.

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Paying your premiums

 

PB Insurance offers you a range of convenient options for paying your premiums through our DEFT Payment Options below:

Via the internet

Pay over the Internet from your credit card at http://www.deft.com.au/insurance 
Mastercard, Visa, American Express & Diners Club Cards are accepted. *
*Payments by credit card will attract a surcharge.

Via the telephone

Pay by phone from your credit card. Call 1300 78 11 45 to make a payment.
Mastercard,Visa, American Express & Diners Club cards are accepted. *

The phone payment line is a 24 -hour service. Calls are charged at the cost of a local call (mobiles extra).

Via B Pay

Contact your participating bank, credit union or building society to make payment directly from your cheque or savings account. You will be required to enter the Biller Code and BPAY reference number as detailed on the front
of your invoice.

Via Post Billpay

Please present your invoice intact at any Post Office. Pay in person at any Post Office by cash, cheque or EFTPOS.
Please make any cheques payable to ‘DEFT Payment Systems’.

Via Mail

Detach payment slip from your invoice and mail with payment to:

DEFT Payment Systems
GPO Box 141
BRISBANE QLD 4001

Please make cheques payable to 'DEFT Payment Systems for PB Insurance'.

Please note that receipts will not be issued for mailed payments.

 

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Hospitality Insurance

Do you run a hospitality venue? Are you suitably covered for your staff and the public?

PB Insurance provide dedicated support to ensure the ongoing financial security and risk management of your hospitality venue. As experts in the field of hospitality we understand your specialist needs including public liability and liquor liability.

We have developed a range of specialist products and solutions through approved insurance companies designed specifically for the hospitality industry. These can be tailored to suit any pub, hotel, club, restaurant, tourism or food service outlet.

To learn more about complying with hospitality insurance requirements contact Bill Higgingson or simply fill in the form below.

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Specialist Insurance

Please choose a specialist industry:

HOSPITALITY INSURANCE

INDUSTRIAL RISKS INSURANCE

COMMERCIAL PROPERTY OWNERS INSURANCE

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Management Liability Insurance

Many companies, their directors and senior managers unwittingly allow themselves and their personal possessions to be exposed to litigation that is occurring more regularly than ever before.

Without adequate protection you could risk losing not only your business but also your personal assets.

Think about the principal activities of your business and the competitive and regulated environment in which it operates. The exposures associated with operating an organisation are often unknown but can often centre around OH&S or employment practices, matters of employing staff, fines and penalties associated with Workcover matters and loss of money, securities or other tangible property resulting from fraudulent or dishonest acts of employees. Defence and investigation costs alone can be financially crippling for businesses and individuals.

The simple solution is Management Liability Insurance.

Download one of the PDF documents below for more information:

• Management Liability brochure
  
• Management Liability claims examples
  

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Student Accommodation

Find out more at our new dedicated

Student Accommodation Insurance Website

Do you offer student accommodation? Are you suitably covered?

Most student accommodation properties are insured under domestic home policies. This is insufficient and claims made under these policies will be rejected.

Suppose a student fell down the stairs and become permanently incapacitated and they, or their family, claim $5,000,000 compensation from you, how would you pay them?

If you submitted a claim under the public liability section of a home or landlords policy to indemnify you, you can guarantee the relevant insurance company will thoroughly investigate the use of the property and the claim would be rejected unless you had a policy specifically designed for this purpose.

We would add that all agents for owners of student accommodation facilities could be held vicariously liable if the correct insurance cover is not in place.

We have developed a facility through an APRA approved insurance company which is designed specifically for the student accommodation industry.

Please click on link to download Student Accomodation Fact Finder for Queensland.

Please click on link to download Student Accomodation Fact Finder for all States other than Queensland.

Please click here to link through to the Student Accommodation Industry Association website for additional helpful information.

To learn more about complying with the Student Accommodation insurance requirements contact Ian Yeo or Karen Takken or simply fill in the form below

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Business Insurance

Do you run a business? Are you confident that you have the right level of cover to protect yourself, your business and your staff?

PB Insurance have provided dedicated support to businesses since 1986 and understand implicitly how important the ongoing financial security and risk management of your business is.

We have developed a range of specialist products and solutions through approved insurance companies designed to provide the ideal options for businesses in any industry. The typical areas of business insurance we can provide include:

• Professional indemnity
• Management liability
• Tax probe
• SME business
• Loss of profit / business interruption
• Manufacturing

To learn more about all your business insurance requirements contact Ian Yeo or simply fill in the form below.

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Products & Services

Understanding the insurance needs of businesses ensures we offer the full breadth of commercial insurance services and products. From owner operators to large corporation, PBI have it covered for you.

We can provide advice, evaluation and insurance products in the following broad based areas:

• Business insurance
• Transport insurance
• Travel insurance
• Student Accommodation insurance

We also specialise in the following specialist areas:

• Hospitality insurance
• Industrial Risk insurance
• Commerial Property Owners insurance

We are continually growing our ranges of products and services to fulfil the needs of our clients and to grow our areas of specialism so please talk to us about any further insurance needs.

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Our Clients

We pride ourselves on the diversity of our business clients, each with their own unique needs. No client or industry is too complex or unusual for our flexible team who are committed to achieving the best results for our valued clients.

Our clients here at PB Insurance operate in a multitude of industries, from mining to hospitality and from medical to heavy transport. The loyalty of our clients over many years is testament to the care and attention we pride ourselves on providing. Watching our clients’ grow their businesses and working with them to facilitate this has been particularly rewarding over the two decades of PB Insurance.

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Our Team

Our dedicated team are focused on finding successful insurance solutions to suit your business. Contact us today to find out more.

	Ian Yeo - Director / CEO “Even after 40 years in the insurance industry, my passion is still to make sure every client receives the best advice possible along with excellent service.” What Ian doesn’t know about insurance probably isn’t worth knowing. His straightforward and practical approach means clients know that they have the most appropriate insurance cover for their needs. This commitment runs strong through the whole team at PB Insurance. Ian’s clients have trusted his advice for years with many of them looked after continuously by Ian for 20+ years. Through Ian’s experience and persistence, he created a niche insurance product for the Student Accommodation industry and is a proud founding member of the Student Accommodation Industry Association www.saia.org.au.  He is committed to ensuring the industry adopts a best practice model. When he’s not thinking about insurance, Ian loves his footy (Go the Broncos), beer and bird watching. ian.y@pbinsurance.com.au
	Karen Takken – Student Accommodation Broker Karen has been with PBI for 8 years starting in our wonderful claims department, before moving into the Operations and procedural side of the company. The Student Accommodation Industry has been a passion since PBi created Australia’s only specific insurance cover for this market 4 years ago.  Karen really enjoys working hands on with existing and new clients with this Insurance Product and ensuring they have the best cover available for their investments. Karen is a Sunny Coast girl and has two terrible teenage boys who keep her hopping when she is not in the office.  When she hasn’t got them in her ear, she loves nothing better than to curl up with a good book. karen.t@pbinsurance.com.au
	Bill Higginson – Account Manager  Bill has over 30 years of experience as an insurance broker and risk advisor; he works closely with clients to incorporate his extensive knowledge and expertise to manage and advise on their business risks. He offers specialist advice in the areas of property, business interruption, general liability and professional liability coverage and manages annual insurance programs for a wide variety of manufacturers, importers and distributors, property owners, transport operators, not for profit organisations and professional service providers. Bill has gained extensive business understanding across a broad range of industries and has specialised in the education/training industry plus health/aged care and mechanical engineering sectors. Bill is married with 3 children- and a dog; and is an avid sports fan (Go the All Blacks!) bill.h@pbinsurance.com.au
	Andrea Niebling - Account Manager Andrea started her insurance career 10 years ago. In that time she has had experience ranging from domestic & SME to corporate broking. She came to PBI to be closer to home and face some more challenges in her career. Andrea’s clients agree that her attention to detail, customer service, reliability and ability to source comprehensive as well as cost effective cover takes the hassle and confusion out of insurance for busy business people. “I strive to deliver my clients a high level of service and knowledge that is truly excellent” Although Andrea assists businesses across a wide range of industries, over the years Andrea has become a specialist in the motor trade, timber supply Industry, earthmoving and large retailers. Away from insurance Andrea loves time with her family, her two very active dogs, and the beach of course! andrea.n@pbinsurance.com.au
	Megan Campbell – Commercial Broker Megan started her time with PBi as a broker’s assistant 5 years ago.  After completing her Commercial Insurance qualifications, she easily adjusted to assisting our smaller commercial clients, especially local tradesmen, earthmovers, farmers, body corporates and property owners. Her no nonsense approach and desire to ‘go the extra mile’ ensures the best insurance cover for all her clients. Outside the office, Megan is exploring her artistic side with her beloved SLR camera.  She also enjoys camping, reading & hanging out with her nephews. megan.c@pbinsurance.com.au
	Jamie Grigg - Broker With 10 years experience in the Insurance Industry, Jamie offers clients a wide range of experience & advice which enables him to provide them with the best possible cover & premium available on the market. Jamie prides himself on high service levels and a never give up attitude when it comes to clients, particularly those who can’t obtain the appropriate insurance cover due to a high risks, unusual occupations or complex structures Away from work, he enjoys is weekends with the family, Sports and Fishing! jamie.g@pbinsurance.com.au
	Wayne Keogh - Broker “The thing that I like most about being an Insurance Broker is that I am always learning about different professions and people from all walks of life.” Wayne has been in the Insurance Broking industry for 8 years. He handles a growing portfolio of commercial clients and specialises in the SME market, providing both business and domestic insurance advice. Wayne uses his client service focus & industry knowledge, to successfully achieve the best results for clients and their insurance needs. Wayne enjoys spending time with his family, playing golf in his free time and watching the football. wayne.k@pbinsurance.com.au
	Jayne Perrior - Domestic Broker Jayne has been in the domestic insurance industry since 2008 when she started her career working with direct market insurers RACQ and Suncorp. During this time she gained vast knowledge on all things domestic. Since joining PB Insurance in 2011 Jayne has realised the advantage clients have dealing with a broker, rather then direct with the insurer. These advantages include the ability to give personal & tailored advice to clients every year, ensuring they are receiving the most competitive premium and the best product, and assisting clients when they need to lodge a claim. Jayne feels confident in choosing and promoting a product to clients needs and turning insurers features into meaningful benefits for each client. In the future she looks forward to moving her career into the commercial insurance market. When Jayne is not at work she enjoys 4x4ing, popcorn and spending time with family and friends. jayne.p@pbinsurance.com.au
	Maree Pickering – Claims Manager Maree admits she ‘fell’ into insurance over 7 years ago after being out of the workforce to have her family.  Little did she know she would actually enjoy it, especially when dropped into the deep end with claims. Over the years, she has acquired knowledge and understanding of insurance products and claims processes for the vast array of policies offered by a brokerage.  She is the first to admit that it is a constant learning curve with the market adjusting policy’s coverage to adhere to our ever evolving surroundings.  Good thing this is a challenge she is up for! Outside of work, Maree is happiest spending time with her family and friends, reading a good book or eating chocolate! maree.p@pbinsurance.com.au
	Sylvia Alexander - Office Manager sylvia.a@pbinsurance.com.au
	Jennifer Bettridge – Account Manager jennifer.b@pbinsurance.com.au
	Tanya Thompson - Account Manager Assistant tanya.t@pbinsurance.com.au
	Chanece Halligan – Account Manager Assistant chanece.h@pbinsurance.com.au
	Kira VanStraalen - Account Manager Assistant kira.v@pbinsurance.com.au
	Jane Hughes - Claims Assistant jane.h@pbinsurance.com.au
	Pam Garner – Accounts Manager pam.g@pbinsurance.com.au
	Chris Ashcroft – Reception reception@pbinsurance.com.au

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Transport/Plant Insurance

Do you need fleet insurance or simply insurance for your own business vehicle?

Do you run heavy transport in the logistics, warehousing, rail or shipping industry? 

Are you looking for appropriate insurance to cover heavy mobile plant operations in earthmoving, civil works, heavy haulage or other similar industries?

Or does your business simply rely on specialist or prestige vehicles?

PB Insurance provide dedicated support customised for all transportation operators and businesses with vehicle insurance needs. As experts in this field we understand your specialist needs including liability, contract works, mobile plant and heavy motor machinery.

We have developed a range of specialist products and solutions through approved insurance companies designed specifically for the transport industry. These can be tailored to suit your needs whether you are a business with the largest of fleets through to an owner driver.

To learn more about complying with transport insurance requirements simply fill in the form below.

“Our business interests include a bulk haulage fleet of 40 trucks and trailers, a truck & 4x4 workshop facility, a landscape supply business and a small number of pieces of earthmoving plant and equipment operating predominantly in South East Queensland.

We have used the services of PB Broking for all our business insurance needs for many years not only because they have sourced competitively priced insurance cover, but because they have provided a personal, prompt and extremely professional level of service in all aspects of our insurance needs.

We certainly appreciate the no hassle approach they take when doing our annual insurance reviews and the way various options have been presented to us.  When we have had to make claims, they have supported the claim process which also takes a lot of the hassle out of the process.

We would not hesitate to recommend the PB Team to any other parties requiring their services.

Peter Turner, Director, Gravel City Pty Ltd & Big Rig Repairs Pty Ltd

 

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Why use a broker?

Insurance is complex, particularly in the commercial arena. It is crucial to the success of your business that you have the RIGHT cover should disaster strike. Using an insurance broker could just be the best decision you make for your business’ bottom line. Importantly, PB Insurance is an independently owned and operated company and can advise what is best for YOU, not the insurers. Consequently, the policies you chose in conjunction with us will ensure you are only paying for the cover you actually need, negotiated to suit your budget by maximising our group buying power. Going direct to an insurer may appear to be cheaper on the surface but you need to consider your level of risk and insurance carefully. Allow an expert from PB to guide you through the process, from enquiry all the way to satisfaction of a claim through our dedicated claims department, should the need arise. Understanding the vast range of products on the market and the processes involved requires a lifetime of learning so save yourself the time and effort to focus on doing what you do best – running your business.

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Our History

PB Insurance was established in 1986 in Caboolture and has grown under the guiding hand of Ian Yeo to a thriving team of fifteen staff with a client base of around 3,000. Providing insurance solutions for businesses has become a passion for PBInsurance who have grown with the region and are looking forward to supporting their growing client base moving forward. Affiliated to the Steadfast Group since 1998, PB Insurance are able to effectively combine local expertise and experience with the strength of Australia’s largest network of insurance brokers.

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About Us

With Ian Yeo at the helm, PB Insurance have a skilled and hard-working team of insurance professionals dedicated to serving the complete insurance needs of businesses in the region. As a member of the Steadfast Group, Australia’s largest network of insurance brokers, our clients benefit from our extensive buying power. Steadfast has over 260 members with over 400 offices across Australia and writes over $2.5 billion in premiums, ensuring a wide selection of insurers and the ability to negotiate superior terms for clients. We understand that there is no one size fits all solution and here at PBI we will work closely with you to understand your needs. Through our extensive experience and knowledge we will create the right packages and policies to accommodate, no matter how complex your situation. At PBI we pride ourselves on both our professional expertise and our flexible problem solving nature.

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Facelift for PB Broking Pty Ltd

After over 20 years in the marketplace the familiar face of PB Broking Pty Ltd has changed, and all for the better. With a tweak to the name and fresh new look PBi are moving forward with our staff and clients into an exciting new phase of the business.

Focusing on insurance for business, PBi will continue to offer personalized service, excellent products and the weight and security of the Steadfast Group, with whom we have been affiliated since 1998. It’s still the same great PB team but with a refreshed approach to the brand and the business.

Taking pride in our new look is a part of our commitment to our business and our loyal clients. Ian Yeo, Director of PBi explains “this is a great step for us to move forward with confidence for our clients into 2010”.

You will see new signage at our office, new uniforms, new stationery and this new website, designed to not only to be kinder on the eye but also to be easier to navigate and understand. The team hope you are as pleased with our new look as we are!

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