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PROTECTING YOUR BUSINESS – CORONAVIRUS (COVID-19) UPDATE

Important information for business clients

Like many businesses, I am sure you are concerned about the impact the Coronavirus (COVID-19) pandemic and related emergency measures will have on your business.

At Piranha Insurance Brokers we are closely monitoring the situation as it evolves. We understand that the cancellation of events, self-isolation requirements and restrictions on travel will have an immediate and prolonged impact on many of our businesses and clients.

Here’s what we are doing in response;

  1. We are continuing to work with our clients to respond in a timely manner to answer queries, claims and insurance cover requests.
  2. On March 11, the Insurance Council of Australia declared the situation an insurance catastrophe which means claims arising from COVID-19 will be processed with urgency.
  3. We will endeavour to provide you with insurance updates in a timely manner and urge you to contact us via email or phone if you have any questions.

Like many organisations, we are following government directives closely, limiting travel and client contact. Our staff have remote access and, in the event of an office closure, we will be able to continue business as usual.

We urge you to take similar precautions in your business and suggest you refer to the following government sources of information for updates and advice;

The Insurance Council of Australia has also recently provided some important information and updates for business cover clients that we would like to share with you;

Will business interruption insurance cover business costs resulting from Coronavirus?

Most BI policies typically cover disruption to a business as a result of physical damage to assets that the business relies upon.

Some BI policies respond to the closure of a business by an authority for a number of risks, including infectious disease, for example Legionnaires. In 2005/6 the global insurance industry began to introduce general exclusions for losses relating to quarantinable diseases.

Whilst some specific policies may differ, in Australia the majority of business policies are likely to contain exclusions relating to losses caused by any disease notifiable under the Quarantine Act or in some cases the Biosecurity Act.

A small number of businesses may have specialist cover, specifically written for them. Cover may be taken for disruptions to critical supplies from overseas, or a sudden drop-off in trade due to specific border closures. If you do not understand how your policy may respond to COVID-19 triggered losses, speak to your broker or your insurer for more information.

Will business travel insurance cover cancelled travel plans?

 

Where the government issues a ‘do not travel’ advice as a result of a pandemic, travel insurance may cover a traveller for trip cancellation costs, depending on when the policy was purchased and what general exclusions the policy contains relating to claims for pandemic or epidemic.

If an Australian who is already travelling falls ill as a result of a pandemic, their travel insurance may cover medical treatment overseas and a medical evacuation to Australia if covered by their policy. Many travel insurance policies do explicitly exclude any claims related to pandemics. Once a traveller returns to Australia, or if symptoms only present on home soil, the traveller is covered by Medicare.

Travel insurance policies purchased after COVID-19 became a known event are unlikely to cover travellers who are overseas or who are yet to travel for coronavirus-related expenses.

For more information about travel insurance please CLICK HERE

Please start following us on LinkedIn and Facebook as we continue to monitor and update our communication as the situation evolves and changes.

All correspondence will continue to be sent via email, published on our website and updated on our social media.

For further advice please contact your broker directly or call our office on 07 4927 8400.

holiday warning

Intruder Proof It

We all love a surprise at Christmas time and the excitement of imagining what’s under the tree. What we don’t want is the surprise and upset of storms and other nasty happenings at this time of year. There are a few simple things you can do to limit the potential of a spoiled Christmas at your place. Having the correct cover and insurance for the right price is a crucial element to your financial well-being.

 

Whether you own or rent your home (or multiple homes), you will want insurance to protect you against accidental damage, potential losses such as fire, theft or flood.

 

If you own a home, you may need additional coverage to compensate for increased replacement costs since you purchased. We always advise to take into consideration CPI (Consumer Price Index).

 

If you have renovated your home this should be a consideration in your sum insured.

 

A few ways to cut your homeowners or landlord insurance costs and reduce risks is to:

 

Intruder proof it

Remove all those burglar-friendly aids lying about around your yard and garden – a chair gives them a leg up, the ladder easy access to your highest windows. Put away those tools – the edge of a spade makes an effective jimmy.

Intruder protection basics like installing deadlocks and window locks on all external doors and windows were done at your place years ago, right? How about these tried and tested burglar deterrents:

  • Installation of motion sensor lighting – very cost effective.
  • Installation of a monitored alarm system – even better.
  • Consider the installation of a closed-circuit TV camera –gives a good chance of catching the perpetrators and getting your stuff back if you do get burgled, as does…
  • Security marking of valuables… and pho­tographs of them kept in a secure place.
  • Up-to-date valuations of valuables to determine insurance cover required.

 

Storm proof it

Christmas in our part of the world means the risk of damage delivered by storms is at its peak. Preparation is everything. Clean out the gutters, trim back your trees and ask your neighbour to do the same. Put away those potential flying object items sitting in your yard, on your deck or veranda.

Finally, if all your precautions come to nothing and you are hit by weather events or visits from unsavoury individuals, at least your home and contents insurance will put things right financially. If you’re not sure you have enough cover, contact your insurance broker account manager without delay.

40 Years | Commitment equals success for Piranha Insurance

On November 30, the Piranha Insurance family officially celebrated 40 years at a special Christmas function hosted at Korte’s Resort at Parkhurst, North Rockhampton. Peter and Heather were surrounded by family, friends and employees.

As Peter Peirano reflected on forty years in business, he admitted the feeling to be bittersweet.

In an ever-changing world, Mr Peirano and his wife, Heather have been committed to their clientele which has proven to be a major factor in the business’ success.

“It’s a huge milestone for any business to survive…purely we’re doing something right,” Mr Peirano said.

And as loyalty runs deep within the culture of Piranha Insurance, it has earnt them the respect of their clients.

“I’ve always told our staff look after the client and the money will come…you’ve got to look after your customers,” Mr Peirano said.

“We’re very much face-to-face, they can have a cup of coffee…we need to get to the bottom of their insurance problem.”

And despite opportunities which have arisen to expand the outreach of the organisation, Mr Peirano said he remains committed to helping Central Queenslanders.

“We’ve always resisted going outside of Rockhampton, we just believe in this area,” Mr Peirano said.

And after four decades in the industry, Peter’s love of people has remained the same.

Looking back to the beginning of his business journey, Mr Peirano said a chance meeting with an industry professional helped him establish a career.

Mr Peirano owned a slot car track, and one day he had been ten pin bowling when a man by the name Revel Henry from the Colonial Mutual Life Insurance had found him to be an effective communicator.

“I did an apprenticeship with Colonial Mutual Life Insurance and then I eventually moved to Mercantile Mutual Life Insurance and I virtually stayed with them through a number of life changes,” Mr Peirano said.

Mr Peirano stayed with Mercantile Mutual Life Insurance for 39 years.

With many years of experience behind him, Mr Peirano purchased the current Piranha Insurance premises at 168 Denison St in Rockhampton 29 years ago.

Peter and Heather have since created a warm working environment for his staff which has helped their organisation prosper over the decades.

“They’re all my family, I’ve watched them grow up,” Mr Peirano said. “It’s tremendous to see young kids grow into great young adults.”

Born in March 1953, Mr Peirano hailed from Duaringa where his father had owned the local butcher shop from 1952 – 1979.

While the Piranha Insurance owner said the thought of his business’ milestone brought him joy, he felt sad to think he no longer worked from the office to do what he does best – communicating with people.

The business is now in the capable hands of principal Broker, Heather Peirano, Senior Brokers, Ross Hudson, Nathan Peirano and Tracey Cook and our efficient support crew Lorraine Tree, Astrid West, Morgan Matthews, Elise Safstrom, Hannah Balgowan and Lara Thackeray.

For all of your insurance needs, visit the team at Piranha Insurance today at 168 Denison Street, Rockhampton or phone 07 4927 8400 for any enquiries.