Corporate Profile

Insurer Security

Broking

Premium Funding

Risk Management

Through our services at Insurance Brokers Australia (IBA) a professional and experienced leader in the financial services industry, you will be one of the very well serviced and advised businesses in Australia and a valued client who can deal with their day to day questions and issues with experienced ‘hands on’ personable broker advisers Professionally qualified to help you.  Your broker or executive manager is a Certified Insurance Professional (CIP) who takes pride in discussing your business or personal risk exposures and assisting to plan the best acceptable program for your use.

Corporate Profile

Insurer Security

Security used with all provisioning of policy contracts/services to clients is always by way of rating agencies, either for insurers or insurers underwriting agencies or at arm’s length underwriting agencies.  The Credit worthiness of an insurer including or exceeding ‘A’ or ‘A3’ is a minimum for our broking company’s insurer panel. When we review the current insurer for most of our business programmes, the rating is ‘AAA’.

 ‘On paper’ and local knowledge evaluation are both important yard sticks for our insurers.  At the end of the day (claim time) we need an insurer who has the financial capacity to meet not only our claim but what could be a catastrophe event, and one who works proactively and pragmatically with their ‘Insured’, via loss adjusters and brokers to achieve a correct and acceptable settlement of claim. 

 For the insurance mechanism to operate effectively claims must be settled without serious dispute. After the loss event, you need to be in the same position as you were before the event occurred.  For this reason, we choose insurers who we know will be able to settle claims in an industry, profession or field they know.   The business and corporate sector is unique and the broker and insurer must have a clear understanding of the industry and what is required and when for the business.

 It is important to have the best premiums available but a priority to have the correct insurer with the most appropriate policy.

Broking

Like your accountant, financial adviser or solicitor who are perceived as trusted advocates and true business partners in building the success of their client’s investment, our Value Proposition to you is the service and Risk Management advice we provide that: -       

• Highlights the potential pitfalls for you so as to minimise your exposure to financial risks-   
• Highlights hazards and security issues to ensure adequate protection of your property and business-       
• Helps improve and ‘insure’ your bottom line.

Our endeavours are to help you     

• Save time and money by managing your insurance needs so you can get on with running your business. We deal with the ‘Good value’ Insurers… not the cheap policy and premium Insurers.
• Eliminate the need for you to conduct price and product comparison shopping.
• Offer objective, impartial advice and represent your interest, not the insurer’s
• ‘Going direct’ may appear cheaper but can cost more in the long term if cover is inadequate, risk management is not handled expertly, or when the claim arises.
• Represent your interest in ensuring quick, efficient settlement of claims
• A business partner that provides independent, professional advice based on experience and expertise.
• You benefit from the expertise of professionals who are trained to be in tune with the latest industry developments
• Access to a full range of insurances to cover all aspects of your business.
• Build long term relationships by understanding your business before providing the solution to ensure the right protection is provided.
• Developing risk management strategies to lower premiums
• Minimise risk of over or under-insurance by assessment of assets and identifying gaps in cover
• Improving cash flow through access to monthly premium facilities
• Handling of insurance placement, documentation and renewals.
• In-depth knowledge across a range of insurance products, the market (locally and internationally) and the business environment impact on insurance
• Keep you abreast of impacts of market changes to your insurance cover.
• Work with other business partners (accountants, financial advisers, legal) to improve business practices, reduce risks and improve your bottom line
• Full client relationship management and ability to look at your business from a holistic perspective
• Recommend the Insurances are placed with secure, stable insurers  

Insurance Premium Funding

We recognise cash flow management is an important requirement for any successful commercial business and that a large insurance payment could be disruptive to business cash flow. Premium Funding can help to avoid large insurance bills that need to be paid in one lump sum by offering a flexible and convenient way to spread insurance costs into smaller monthly payments. Insurance payments can place a strain on business cash flow by tying up working capital.

You may consider:

• Retain working capital
• Fixed interest rate tax deductible
• No loan security cost the policy itself is the security
• Flexible repayment options
• Various repayment methods

Want to know more? Speak to one of our friendly team of specialists.

Risk Management         

• What is risk?           
• Who is responsible for risk management?              
• Who should be involved in risk management?
• What is Risk Management?

A business has an obligation to identify and assess foreseeable hazards.  If it is not reasonably practicable to eliminate the risk, the business must take steps to control the risk. Risk management for businesses and employers is covered in detail in various OHS Regulations. obligations of risk management as they apply to specific hazards, activities or places of work should be taken into serious consideration not only for your statutory responsibilities but necessarily to better manage your insurance programme and premium costs.