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Uninsured Risks Checklist
Risks may be uninsured for a number of reasons, including:
Underinsurance
If your sums insured or declared insurable values are inadequate and the policy contains a co-insurance or average clause, you may not receive the full amount of the loss.
Inadequate loss limits
If the sum insured is less than the amount of your exposure, any loss in excess of the sum insured will not be insured.
No Insurance
If you elect not to insure a particular risk, you must bear all losses yourself.
An Excess under a policy
You must bear the first part of the loss up to the amount of the excess.
Excluded perils
Some policies exclude perils, example - flood, storm surge and subsidence. You will not be insured for an excluded peril unless you ask for the cover.
We have indicated below a number of risks we believe may be important for you to consider. This list does not include all the policies available in the various insurance markets and is only intended to provide a summary of covers to assist in your assessment of whether such insurance protection may be needed.
Please note this list includes covers that you may have already purchased.
- Cyber Insurance
- Management Liability
- Business Interruption
- Flood
- Burglary/Theft
- Business package
- Commercial Strata
- Contractors Plant & Equipment
- Fidelity Guarantee / Employee Fraud
- Fire & Perils / Industrial Special Risks
- General Property
- Glass Breakage / Signs
- Money
- Drone Liability
- Directors & Officers Liability
- Association Liability
- Contractual Liability
- Employment Practices Liability
- Environmental Impairment Liability
- Libel & Slander / Defamation
- Public and Products Liability
- Product Performance Guarantee
- Product Recall
- Professional Indemnity
- Statutory Liability
- Taxation & Audit Expenses
- Trade credit
- Carriers Liability
- Charters Legal Liability
- Marine Hull
- Marine Inland Transit
- Marine Overseas Transit
- Marine Liability
- Corporate Travel
- Group Personal Accident
- Individual Personal Accident
- Key Person Cover
- Workers Compensation
- Construction ⋅ Advanced Profits
- Construction Risks and Liability
- Contract Works
- Heavy Motor / Machinery
- Motor Vehicle - CTP
- Motor Vehicle
- Motor Vehicle downtime
- Machinery & Electronic Equipment
- Boiler & Pressure Vessel Explosion
- Computer Breakdown & Business Interruption
- Electronic Equipment / Breakdown
- Machinery Breakdown & Business Interruption
Not all these covers may apply to your circumstances. However, as a business can change, we suggest that this list be reviewed regularly to ensure that your current insurance program is still satisfactory in meeting your needs. Please contact your Adviser if you require any additional information.
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Our Associations
As part of our association with Community Broker Network Pty Ltd, Bracesure Insurance Brokers gain the benefit of relationships with the following insurance industry groups and companies.