What to look out for in 2018 2018 is set to be a challenging year online with increases in cyber threats and the evolution of Australia's legislative landscape in relation to data breaches. The Notifiable Data Breaches (NDB) Scheme will commence in Australia on 22nd of February. The...
New Eligibility Risk Manager Appointed for Home Warranty The Home Building Compensation Fund have announced the appointment of Corporate Scorecard (Equifax Australasia Credit Ratings Pty Ltd t/as) to be its Eligibility Risk partner from the 7th of December 2017. QBE and RBUA will cease their involvement as of...
CRM Brokers wishes you and your family a very Merry Christmas and we look forward to seeing you in the New Year CRM Brokers offices are business as usual until 1pm Friday 22nd of December 2017, when we will close for Christmas and New Year's Eve. Our...
Frequently Asked Questions [vc_accordion active_tab="false" collapsible="yes" style="accordion" title="FAQ"][vc_accordion_tab title="How would an insurer know I am a small business so I am not charged duty on my policy?"][vc_column_text]An insurer will require the insured to provide a small business declaration. This is a declaration by the insured, in...
NSW Stamp Duty Exemptions In the 2017/2018 State Budget, the NSW Government announced that from 1st of January 2018 there would be an exemption for Stamp Duty on certain insurance products for small business. From 1 January 2018 small businesses are not liable to duty on certain...
Strata Building Bond and Inspections Scheme The new Strata Building Bond and Inspections Scheme is set to commence on 1 January 2018. The Scheme is a Government response to the City Futures Research Centre 2012 Report which found 85% of respondents, in buildings built since 2000, indicated...
Massive data breach hits Australia A third party IT contractor breach has exposed 50,000 Australian personal records including full names, passwords, IDs, phone numbers, and email addresses as well as some credit card numbers and details on staff salaries and expenses. Human error is again the...
Stay Smart Online Week: Simple Steps to Online Safety CRM Brokers is encouraging its clients to make internet safety a top priority, by partnering with Stay Smart Online to promote to Stay Smart Online Week. The Theme for the tenth annual event is ‘simple steps to online...
What is a Hold Harmless Clause? In this update we look at a particular type of indemnity clause known as a “hold harmless clause” and what implications such clauses have for liability insurance coverage. We often come across indemnity clauses in contracts which require one contracting party...
How can cladding affect your insurance claim? Cladding is considered a popular material used to cover a building’s external wall or roof due to its light weight, architectural features, resistance to corrosion and many other benefits. A cladding material currently in focus is Aluminium Composite Panels...
Risk Factors impacting your Home Warranty premium The NSW Government is reforming the Home Building Compensation Fund (HBCF), commonly known as Home Warranty or Builders Warranty, to improve customer protection, improve competition in the market and make the scheme sustainable for the NSW home building sector....
Nominations are now open for CRM Brokers Client Services Manager of the Year Award The CRM Brokers Client Services Manager Award is designed to recognise excellence in performance of a cleaning or security Client Services Manager . The size of the company is irrelevant in the judging...
Ten-point plan for fire safety reforms Responding to the issues around London’s Grenfell Tower fire, the NSW Government announced a Ten-point plan to ensure unsafe building products are taken off the shelves, buildings with cladding are identified and notified and that only people with the right...
Understanding how the various sections of a Strata Insurance policy respond to a claim is paramount, as it could affect your chances of making a successful claim. In general, a Strata Insurance policy consists of the following sections:- Building Liability Fidelity Guarantee Office Bearers Liability Voluntary...
Updates from Insurers on the collection of ESL Insurers are moving as quickly as they can to reinstate the collection of the emergency services levy (ESL) on insurance premiums for property located in NSW. This is taking some time, as the government’s decision to defer the...
Automatic Terrorism Cover for strata buildings. The Australia's Terrorism Insurance Scheme was originally designed to provide automatic Terrorism cover for commercial buildings only under the Terrorism Insurance Act 2003 subject to a Terrorism Levy. As a consequence, sizeable residential strata buildings which are located and/or surrounded...
Australians Urged To Apply Latest Software Update Amidst Ransomware Attacks Stay Smart Online issued a HIGH PRIORITY Alert on this matter on the 28th of June. The Alert includes simple steps that organisations (including small businesses) and home users can take to reduce their risk of...
Strata Building Defect Bond Scheme Deferred Until 2018 NSW Fair Trading has officially deferred the building defect bond scheme. The scheme will now only apply to construction contracts signed (or where there is no contract and building work commences) from 1st of January 2018. Fair Trading announced...