Types of Cover

A bespoke Insurance plan for your business

We will research, shortlist and assess the pro’s and con’s of each individual insurance provider , then recommend the most suitable insurance partner to protect your business that’s specifically tailored to your needs.

A My Insurance Specialist champion will provide you with the certainty and confidence to ensure that you remain fully protected.

STRONG RELATIONSHIPS HELP BUSINESSES SUCCEED

At MIS, we don’t just depend on our business expertise to ensure you succeed. As business owners ourselves and having worked with hundreds of SMEs over a combined 100 years, we have experienced the common problems of running a business. We understand that your needs and values are unique. That puts us in a strong position to thoroughly and correctly guide you to find the right provider. We will ensure your business is protected for the long-term.

Business insurance

What is a Business insurance package?

A Business insurance package provides broad financial protection for a range of small to medium-sized business types and occupations including (but not limited to):
  • Restaurants and Cafes 
  • Motor Mechanics 
  • Clothing retailers, handbag stores, florists, health food shops, pet shops and fruit and vegetable retailers 
  • Electrical Retailers 
  • Travel Agents 
  • Hairdressers and Beauticians 
  • Jewellers.

Why do you need it?

When running a business, you need to get  on with the day-to-day running of your business. You can’t afford to lose sleep over what might happen if your business is interrupted by something beyond your control.

What does it cover?

A typical Business Package policy can provide cover for:
  • Property Damage – Repair or replacement of property damaged.
  • Business interruption – Loss of trading profit following insured damage to property and additional costs and expenses incurred during a claim.
  • Theft – Repair or replacement of property stolen.
  • Money – Loss of money.
  • Public or products liability – Your liability to pay compensation for personal injury and property damage as well as the costs involved in defending a claim triggered by the policy.
  • Glass – For replacing glass inside or outside your premises, including your shopfront windows, mirrors or display cases.
  • Transit – For stock that is in transit on the road, in the air or by sea.
  • Electronic equipment breakdown – For repairing or replacing electronic equipment that breaks down.
  • Machinery breakdown – Cover for costs associated with machinery breakdown.
  • General property – To cover your tools of trade, including laptops and tools that you use for your profession or trade.
  • Tax audit – To cover the costs of being audited by the ATO.
  • Employee dishonesty – Direct financial loss of the business caused by the dishonest or fraudulent conduct of an employee which is first discovered during the period of insurance.

Business insurance

What is a Business insurance package?

Business Insurance Package also referred as Business Pack is tailored towards small to medium sized businesses. It is one policy that contains various sections to provide a range of covers to suit your business needs.

Why do you need it?

When running a business, you need to get  on with the day-to-day running of your business. You can’t afford to lose sleep over what might happen if your business is interrupted by something beyond your control.

What does it cover?

A typical Business Package policy can provide cover for:
  • Property Damage – Repair or replacement of property damaged.
  • Business interruption – Loss of trading profit following insured damage to property and additional costs and expenses incurred during a claim.
  • Theft – Repair or replacement of property stolen.
  • Money – Loss of money.
  • Public or products liability – Your liability to pay compensation for personal injury and property damage as well as the costs involved in defending a claim triggered by the policy.
  • Glass – For replacing glass inside or outside your premises, including your shopfront windows, mirrors or display cases.
  • Transit – For stock that is in transit on the road, in the air or by sea.
  • Electronic equipment breakdown – For repairing or replacing electronic equipment that breaks down.
  • Machinery breakdown – Cover for costs associated with machinery breakdown.
  • General property – To cover your tools of trade, including laptops and tools that you use for your profession or trade.
  • Tax audit – To cover the costs of being audited by the ATO.
  • Employee dishonesty – Direct financial loss of the business caused by the dishonest or fraudulent conduct of an employee which is first discovered during the period of insurance.

Public & Products Liability Insurance

Do you need it?

If you own a business, then more than likely Liability insurance is required. Running your own business can be stressful and the chance of something occurring is unpredictable. You have a duty of care to third parties that are associated with your business & it’s related activities.

Why do you need it?

Public & Products Liability insurance provides cover for your business against negligence relating to your daily business activities or products for injury & property damage to third parties.

What does it cover? 

A typical Public & Products Liability policy can provide cover for:
  • Legal representation costs incurred in the defence or settlement of a claim.
  • Injury or physical damage to a third party caused by your business operations
  • Damage of goods that you do not own which are in your care, custody or control.
  • Liability caused by the act of others acting on your behalf during the course of your business operations.

Public & Products Liability Insurance

Do you need it?

If you own a business, then more than likely Liability insurance is required. Running your own business can be stressful and the chance of something occurring is unpredictable. You have a duty of care to third parties that are associated with your business & it’s related activities.

Why do you need it?

Public & Products Liability insurance provides cover for your business against negligence relating to your daily business activities or products for injury & property damage to third parties.

What does it cover? 

A typical Public & Products Liability policy can provide cover for:
  • legal representation costs incurred in the defence or settlement of a claim.
  • Injury or physical damage to a third party caused by your business operations
  • Damage of goods that you do not own which are in your care, custody or control.
  • Liability caused by the act of others acting on your behalf during the course of your business operations.

Professional indemnity

Everyone makes mistakes

But if you give professional advice for a living, one small mistake could result in expensive lawsuits and a damaged business’ reputation. Professional indemnity insurance gives you peace of mind that your assets and brand will be protected if the advice you provide causes a client to take legal action.

do you need it?

Professional Indemnity Insurance is for business that give advice or provide professional services to third party

Why do you need it?

It protects your business against allegations, negligence, your breach of professional duty or incorrect advice & professional misconduct that you provide to third parties

What does it cover?

A Professional Indemnity Insurance policy can cover you for:
  • Legal representation costs & expenses for the investigation & defence or settlement of your claim.

Professional indemnity

Everyone makes mistakes

But if you give professional advice for a living, one small mistake could result in expensive lawsuits and a damaged business’ reputation. Professional indemnity insurance gives you peace of mind that your assets and brand will be protected if the advice you provide causes a client to take legal action.

do you need it?

Professional Indemnity Insurance is for business that give advice or provide professional services to third party

Why do you need it?

It protects your business against allegations, negligence, your breach of professional duty or incorrect advice & professional misconduct that you provide to third parties

What does it cover?

A Professional Indemnity Insurance policy can cover you for:
  • legal representation costs & expenses for the investigation & defence or settlement of your claim.

MANAGEMENT LIABILITY

Do you need it?

Most of us wouldn’t think twice about insuring our businesses against theft, fire and personal injury, but what about insuring yourself and your staff against the risks that come with running a business? Management Liability insurance can offer protection if you or a senior staff member makes a mistake or engages in misconduct that negatively impacts a third party.

Why do you need it?

If you sit on the board of a private organisation or indeed any business, then you should contemplate taking out Management Liability insurance. Management Liability insurance is designed to protect the owner and director of a business, and anyone else who is a director of the business, from the risks and exposures associated with running a company.

What does it cover? 

This type of insurance is designed to protect the financial wellbeing of the company as well as a Director’s own personal wealth.
Claims against a Director or Officer or their business could include:
  • Bullying
  • Breach of duty
  • Defamation
  • Discrimination
  • Fraud
  • Harassment
  • Occupational Health and Safety
  • Theft by employees or contractors
  • Unfair dismissal.
Management Liability insurance can typically protect against some or all of these risks:
  • Damages and claimant costs awarded against you
  • Legal fees
  • Investigation costs
  • Civil fines and penalties
  • Representation costs where you are legally required to attend an inquiry or investigation regarding company affairs.

MANAGEMENT LIABILITY

Do you need it?

Most of us wouldn’t think twice about insuring our businesses against theft, fire and personal injury. , but what about insuring yourself and your staff against the risks that come with running a business? Management Liability insurance can offer protection if you or a senior staff member makes a mistake or engages in misconduct that negatively impacts a third party.

Why do you need it?

If you sit on the board of a private organisation or indeed any business, then you should contemplate taking out Management Liability insurance. Management Liability insurance is designed to protect the owner and director of a business, and anyone else who is a director of the business, from the risks and exposures associated with running a company.

What does it cover? 

This type of insurance is designed to protect the financial wellbeing of the company as well as a Director’s own personal wealth.
Claims against a Director or Officer or their business could include:
  • Bullying
  • Breach of duty
  • Defamation
  • Discrimination
  • Fraud
  • Harassment
  • Occupational Health and Safety
  • Theft by employees or contractors
  • Unfair dismissal.
Management Liability insurance can typically protect against some or all of these risks:
  • Damages and claimant costs awarded against you
  • Legal fees
  • Investigation costs
  • Civil fines and penalties
  • Representation costs where you are legally required to attend an inquiry or investigation regarding company affairs.

Cyber and Privacy

Is your business protected from Cybercrime?

Cyber crime is one of the leading global business risks. Personal information has tremendous value as does intellectual property and other private business information. A single data breach, like the illegal release of client or employee information, or credit card details can have a devastating business impact both financially and reputationally

do you need it?

Cyber crime targets business of all sizes and currently costs Australian businesses $3.5 billion annually (up from $1 Billion in 2020), yet it remains one of the least insured policy areas. Recent research by Deloitte has found that since the global Coronavirus pandemic began, Cyber crime has increased by 25%, with Phishing emails particularly increasing by 600% in the first half of 2021. One Cyber attack can leave your business held to virtual ransom whether it be through the use of vicious malware and computer viruses to hack your network and computers, ‘denial of service’ attacks, phishing scams and internet fraud, business information and identify theft and more.

What does it cover?

There are two main Cyber Insurance policy types to consider when it comes to protecting your business from cyber crime.
1. Cyber Crime Insurance (or Cyber Crime Policy Extension): This typically provides cover for Theft of Money due to a Cyber Crime event, for example, social engineering fraud, phreaking, phishing, or other forms of cyber fraud involving loss of money.
2. Cyber Liability and Privacy Protection Insurance: This typically provides cover for:
  • First Party (own) costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Fines and penalties incurred as a result of a Cyber event, or breach of Privacy, as defined by the Insurer’s policy wording.
  • Business Interruption/Consequential Loss (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Third Party costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Limits available are generally up to $10,000,000.

Cyber and Privacy

Is your business protected from Cybercrime?

Cyber crime is one of the leading global business risks. Personal information has tremendous value as does intellectual property and other private business information. A single data breach, like the illegal release of client or employee information, or credit card details can have a devastating business impact both financially and reputationally.

do you need it?

Cyber crime targets business of all sizes and currently costs Australian businesses $3.5 billion annually (up from $1 Billion in 2020), yet it remains one of the least insured policy areas. Recent research by Deloitte has found that since the global Coronavirus pandemic began, Cyber crime has increased by 25%, with Phishing emails particularly increasing by 600% in the first half of 2021. One Cyber attack can leave your business held to virtual ransom whether it be through the use of vicious malware and computer viruses to hack your network and computers, ‘denial of service’ attacks, phishing scams and internet fraud, business information and identify theft and more.

What does it cover?

There are two main Cyber Insurance policy types to consider when it comes to protecting your business from cyber crime.
1. Cyber Crime Insurance (or Cyber Crime Policy Extension): This typically provides cover for Theft of Money due to a Cyber Crime event, for example, social engineering fraud, phreaking, phishing, or other forms of cyber fraud involving loss of money.
2. Cyber Liability and Privacy Protection Insurance: This typically provides cover for:
  • First Party (own) costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Fines and penalties incurred as a result of a Cyber event, or breach of Privacy, as defined by the Insurer’s policy wording.
  • Business Interruption/Consequential Loss (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Third Party costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurer’s policy wording.
  • Limits available are generally up to $10,000,000.

Commercial Property

Do you need it?

Commercial Property varies in sizes which includes offices, factories/warehouses, high-rise buildings, apartments blocks & shopping centres.

If you own a commercial property, you will need Commercial Property Insurance.

Why do you need it?

The policy provides cover for your buildings, property, contents including fixtures and fittings & loss of rent.

If you are not protected, you could be left exposed to significant financial losses and disruption to your day-to-day activities.

What does it cover? 

A typical Commercial Property Insurance policy will provide cover for:
  • Damage from fire, storm, water, cyclone, earthquakes and flood is typically an additional cover that can be added.
  • Loss of rent
  • Malicious and accidental damage
  • Theft
  • Personal injury & or property damage
  • Machinery breakdown

Commercial Property

Do you need it?

Commercial Property varies in sizes which includes offices, factories/warehouses, high-rise buildings, apartments blocks & shopping centres.

If you own a commercial property, you will need Commercial Property Insurance.

Why do you need it?

The policy provides cover for your buildings, property, contents including fixtures and fittings & loss of rent.

If you are not protected, you could be left exposed to significant financial losses and disruption to your day-to-day activities.

What does it cover? 

A typical Commercial Property Insurance policy will provide cover for:
  • Damage from fire, storm, water, cyclone, earthquakes and flood is typically an additional cover that can be added.
  • Loss of rent
  • Malicious and accidental damage
  • Theft
  • Personal injury & or property damage
  • Machinery breakdown

Other types of cover

Other types of cover

  • Industrial Special Risks
  • Contractors Plant Insurance
  • Contract Works/ Material Damage
  • Commercial Strata Insurance
  • Commercial Motor Insurance
  • Heavy Motor Insurance
  • Motor Fleet Insurance
  • Prestige Motor
  • Directors & Officers Insurance
  • Employment Practices Liability
  • Statutory Liability
  • Crime Insurance
  • IT Liability
  • Corporate Travel
  • Group Personal Accident
  • Group Income Protection
  • Journey Insurance
  • Cargo & Transit
  • Marine Liability
  • Commercial Hull
  • Home & Contents
  • Landlords
  • Caravan
  • Farm

Industries we work with

Transport & Logistics

Hospitality

Building & Constructions

Trades

Professional Services

Information Technology

Sport &
Leisure

Manufacturing

Community & Education

Farm & Agriculture

Marine

Clothing/Retail

Food
Handlers

SME
Businesses

Start Up's

Beauty

Allied
Health

IMPORT/EXPORT

Transport & Logistics

Hospitality

Building & Constructions

Trades

Professional Services

Sport &
Leisure

Manufacturing

Community & Education

Farm &
Agriculture

Marine

Food
Handlers

SME
Businesses

Start Up's

Beauty

Allied
Health

Information Technology

Clothing/Retail

IMPORT/EXPORT

Need an Insurance Specialist?

Don’t wait until it’s too late. Call us for the right cover, price and advice.

× How can I help you?