Category: News

Risk Management and Insurance Solutions for the Construction Industry

The construction industry is the largest non-service related industry, contributing $134.2 billion to the country’s economy. But as with any big industry, construction comes with its own unique set of risks, and correlating insurance solutions.

About construction insurance

Let’s start with the basics. There are two different types of construction policies – a single project policy that insures a one-off project, and an annual policy that insures various works that take place within a 12-month policy period.

There are two insurance options when it comes to annual policies, the first of which is known in the business as a run-off policy, or a projects/ contracts commencing policy. This insures all projects that meet the characteristics specified in the schedule and begin during the policy period, right up until the construction and its defects liability period is complete.

The second option is called a turnover policy, sometimes referred to as a transfer or cut-off policy. This insures all projects being worked on (or planned to be worked on) during the policy period. Any projects completed within the 12 month policy period are followed by the cover provided during the defects liability period (a set period of time after a construction project has been completed, during which a contractor has the right to return to the site to remedy defects). However, if the project isn’t completed within the allocated timeframe, no defects liability period will attach – meaning all projects underway will cease to be insured.

As you can see, knowing the difference between the policies can be crucial for your construction business! This is why many businesses choose to use an insurance broker – to get the experience and advice they need to make an informed decision about their risks and protecting their businesses.

A bundle of bolt-ons

Beyond the basics, it can get interesting. Clients have the option to choose between a standalone construction policy or a bolt-on (extension to the existing policy) approach.

The majority of standalone construction policies have been specifically drafted to suit the Australian construction environment to help you meet the insurance requirements of the standards in Australian construction contracts. A standard ISR (Industrial Special Risks) policy offers about $500,000 worth of construction cover, but there can be considerable gaps in those policies compared to a specialised or tailored product.

Some of the key components to consider include:

  • a cross-liability clause – states the insurer will view every single insured like they’ve got their own policy, providing the insurers’ limit of liability doesn’t get any bigger. This is a requirement under the Australian standard of contracts.
  • a waiver of subrogation – states that you can’t sue any of the people you have insured as the insurer.
  • a non-imputation clause – states that you can’t prejudice one insured party for the breach of a policy condition of another. This is a crucial requirement for a lot of banks and financial institutions in particular, as it ensures they will potentially be paid what they’re owed, even if a subcontractor has breached the conditions stipulated in the contract.
  • adequate cover for a vibration removal and/or weakening of support – provides cover up to an adequate limit of liability for vibration damage or third party property damage that results from certain activities that cause vibration. This includes deep excavations, underpinning or the removal of supports.

(Source: Insurance & Risk)

Workers’ compensation and the Australian Work Health and Safety Strategy 2012-2022

Another element of insurance for your construction business (or any business that employs people), is workers’ compensation.

The Australian Work Health and Safety Strategy 2012–2022 was launched on 31 October 2012 and an updated version republished in April 2018 (the amendments are listed here: Australian Work Health and Safety Strategy 2012-2022[1]). The Strategy is underpinned by two key principles: firstly, all workers have the right to a healthy and safe working environment, and secondly a well-designed healthy and safe workplace will allow workers to be more productive. The Strategy set three national targets for 2022:

  • 20% reduction in worker fatalities
  • 30% reduction in claims (resulting in 1+ weeks off work)
  • 30% reduction in claims for musculoskeletal disorders (resulting in 1+ weeks off work)

From the Strategy, seven industries were chosen to prioritise prevention activities due to high rates of incidents. The construction industry was one of the seven and is therefore worth spending some time taking a closer look at in regards to people and safety.

Construction industry safety track record

The construction industry has one of the poorest OHS records out of all industry sectors in Australia, with three workplace fatalities per 100,000 workers and 8.1 serious claims per million hours worked, according to recent Safe Work Australia data.

The nature of work in the construction industry means it is a relatively high-risk industry and this is reflected in both the comparatively high level of fatalities and serious workers’ compensation claims (accounting for 16 per cent of fatalities and 11 per cent of serious claims).[2]

Most fatalities were caused by falls from height (30%), being hit by falling objects (15%) and vehicle incidents (15%). Most major claims were caused by muscular stress from lifting/carrying/setting down and handling objects (31%), followed by falls on the same level (13%).

What does this mean for construction insurance clients?

Analysing the information from the report, there are some clear areas that construction industry insurance clients can focus on to reduce incidents and claims and help make sure workers get home safely.

[1] Source: www.safeworkaustralia.gov.au/about-us/australian-work-health-and-safety-strategy-2012-2022
[2] Source: www.sia.org.au/news-and-publications/news/construction-industry-poorest-ohs-performer-safe-work-australia

Construction risk management

A good construction project plan should always include a rigorous risk management approach. The primary elements of your risk management include a plan for the risk management activities and delineation if your risks, as well as how you intend to identify and document the specific risks and their magnitude to the project. Your risk management approach will then require qualitative and quantitative analysis to allow you to prioritise the potential impact of each risk and inform your decision of how you should manage the risk.

Options for managing a risk once properly analysed can include: eliminate or avoid the risk altogether, transfer the risk (this is where insurance comes in), identify actions that can be modified to help prevent the impact of the risk (i.e. safety equipment, training) and acceptance of the risk if it is an unavoidable risk inherent to the project (more common for low likelihood risks).

Once you’ve set your risk management framework and plan, it’s then a matter of good hygiene around monitoring, reporting and responding to risks, near-misses and incidents.

Some of the key areas that should be addressed in your construction risk management plan include:

  • Working at height – how strict are your policies and procedures around ladders, scaffolding and working on top of buildings?
  • Manual handling – do you have training in place to reduce risk of back injury from carrying heavy objects?
  • Vehicles (both operating in and around) – do you do driver safety training, and have clearly marked safe pedestrian walkway areas?
  • Slips, trips and falls – do you review the site for potential tripping hazards, holes or slippery surfaces?
  • Noise – where appropriate do you reinforce the need for ear protection, and equally have procedures in place to make sure important communications don’t get lost due to a noisy background?
  • Electricity – do you always use qualified electricians to carry out electrical work?
  • Collapse – do you complete a site specific risk assessment before you start an excavation to identify what ground support system, shield/wall reinforcement and angles are required for stable excavation and to prevent collapse?

By no means an exhaustive list, hopefully this article has given you some things to think about in regards to protecting your business and your people.

Questions?

You know how to run your construction business, and we know how to insure it. If you have questions or want to get a free comparative quote for construction insurance for your business, don’t hesitate to give us a call on (02) 6892 1050.

The information provided in this blog is general advice only and doesn’t take into account your specific circumstances or personal needs. Insurance policies and coverage differ depending on a number of factors so please talk to your insurance broker before making any decisions about your insurance.

The Risks of Underinsurance

One of the biggest things that keeps us awake at night as insurance brokers is when friends, family or clients are uninsured or underinsured. Some will opt out of insurance claiming cost as the biggest deterrent, but many have never properly had underinsurance explained to them and simply don’t understand the implications on their business or family.

‘If you think insurance is expensive, try ignorance.’

They say that the cost of education is high, but the cost of ignorance is higher – well, today we’re going to share some education with you for FREE in hopes that it helps you understand and make informed decisions about your risks. And so we can get a good night’s sleep. 😊

Understanding underinsurance

We get it, insurance isn’t the most interesting and compelling topic. Many consider it a grudge purchase and just look for the easiest and cheapest way to cover the bare minimum or mandatory insurance requirements. And then many of us experience an insurable incident and realise the value and importance of insurance just a little too late.

If this sounds like you, you’re not alone. Research indicates that Australia is one of the most underinsured nations in the developed world[1].

What is underinsurance?

Underinsurance is defined as the situation when your insurance covers less than 90% of the total costs in the event of a loss[2].

This can apply to business insurance, home insurance, car insurance or most other types of insurance policies.

Some contracts have averaging provisions that reduce the sum paid out by a certain percentage when the sum insured is less than the value of the insured object.

For instance, if you insure your contents for 25 per cent less that their true value and lodge a $30,000 claim, the insurer may reduce your claim by $7500[3].

Therefore, being uninsured or underinsured may not save you money in the end, and could cause a great deal of financial difficulty and heartache in a worst case scenario.

5 common reasons you could be underinsured

  1. When you renew your policy each year you don’t check the details or alert your insurance broker to anything that’s changed in your situation.
  2. You’ve changed, renovated or added features to your home.
  3. You’ve purchased expensive items, such as machinery, jewellery or electronics.
  4. You haven’t calculated an accurate value for your home or contents.
  5. You didn’t include the full costs that could be incurred in the case of an incident in your total sum, such as demolition, removal of a debris and rebuilding.

Am I underinsured?

The best way to get confident about having a strong insurance solution is with the help of your insurance broker. And insurance is not a ‘set and forget’ programme – you should have an open and honest discussion with your broker each year ahead of your renewal. The good news is that having appropriate insurance doesn’t necessarily mean you have to spend a huge amount more money – with the help of your broker, many insurers will also take into account other factors such as your risk management practices when it comes to pricing. Get some peace of mind, and talk to your insurance broker about underinsurance today!

[1] According to a survey conducted by Zurich in partnership with Oxford University

[2] ASIC definition on MoneySmart.gov.au

[3] Source: http://understandinsurance.com.au/do-you-have-enough-insurance

The 7 types of insurance your small business should consider

Small business owners know your business is your livelihood, and protecting it helps to protect yourself, your family and your future success. You face a wide variety of risks and challenges, some which you can anticipate, mitigate and prevent.

Others are unpredictable and unpreventable.

Sometimes these events can result in damage to your property or assets, or worse, to people. Most small businesses wouldn’t financially survive a significant event with the resources you have on hand, and that’s where insurance is designed to kick in and play its part.

Below is a list of some of the typical insurances that we would recommend for Australian small businesses:

  1. Business interruption – can your small business sustain an unexpected closure or disruption? For how long? According to a survey of 500 small businesses, CGU found that 1 in 4 would NOT survive if they had to close their doors for three months due to a major disruption such as a fire or storm. Business interruption insurance covers the shortfall in gross profits caused by the interruption to a small business from insured events. It helps pay ongoing costs and protects your profit margins until you’re back on your feet and operating at the profit level you were before the interruption.
  2. Commercial vehicle insurance – third party insurance is mandatory if you own a motor vehicle. If your company uses a vehicle for work purposes such as transporting your people or your equipment, you should consider insurance to cover things like damage or theft. If your employees drive their personal vehicles for work purposes, non-owned vehicle liability can protect your small business from being held liable to pay should your employee be involved in a collision.
  3. Cyber insurance – if you use the internet or a computer in your small business, it’s very likely that you have cyber risk. You are responsible for protecting sensitive and private information about your people or your customers if you are storing it and you could leave yourself exposed if you experienced a breach, hack or even accidental loss of a laptop containing data. Cyber liability insurance covers your small business for the costs associated with data breaches (such as legal costs or forensic investigation).
  4. Professional liability (also called professional indemnity or errors and omissions insurance) – this type of insurance protects you and your small business against claims for alleged negligence or breach of duty arising from an act, error or omission in providing a professional service that results in a financial loss, injury or property damage. If your small business provides advice or a service, this cover may be relevant to you.
  5. Property insurance – this is crucial cover to protect your building from damages, theft, fire or vandalism. If you’re leasing your space (i.e. you don’t own your building), property insurance can also cover the valuable assets that you do own, such as the office equipment, computers, inventory or tools that your small business relies on.
  6. Public liability – this type of insurance covers your small business in the event that damage to property or injury to a person (a member of the public, not one of your employees) occurs on your premises or is caused by the actions of your business.
  7. Workers’ compensation – if you employ people, you are required to have workers’ compensation to protect them in the event of a workplace-related sickness or injury. Workers’ compensation provides wage replacement and medical benefits to those who are injured while working and protects your small business from facing legal action following an incident.

Hopefully the above is helpful in understanding some of the typical insurances that small businesses might want. Remember that every business is unique, which means you face unique risks and challenges and should get advice from your trusted insurance broker about the type of insurance solution that’s right for you.

 

drought, multi-peril income protection, farm insurance, crop insurance, NSW

Why Farm Insurance and Risk Management Still Matter During a Drought

We’re all aware of the severe drought conditions across our great state, and none of us more than our farmers that are weathering the storm (or the lacktherof).

Although many areas enjoyed lovely rain (and some not so lovely hail!) in the past few days, we all know that the effects of the drought will not diminish overnight.

Managing Your Risks Through Mitigation, Farm Insurance & Multiperil Income Protection

As a farmer, you understand risk management and how to throw thousands of dollars out in the paddock and get it back. However, one bad year tests your risk management and decides if you’ll get by or give up.

It’s unhelpful to say that you should ‘make hay while the sun shines’ and invest in drought mitigation during good years. Instead, there are some farmers that are looking at smart ways to invest even when cash flow is low. This is a good article that looks at a farm family that is taking action, doing things like building drought lots, speak to a livestock nutritionist, instal grain silos and bury plastic wrapped grain.

There is also some drought relief funding available, according to the publications on the DroughtHub.

But many farmers find it too difficult to accept handouts or charity and are instead holding out for rain.

We would encourage you to take advantage of available drought assistance, and also take advantage of this time to be putting a plan in place for the short term and also the long term (ahead of the inevitable next drought).

That plan should include your insurance strategy.

Contact GS Insurance to discuss a strategy where you can protect your assets and your livelihood while mitigating the cost where possible.

Defying the drought and thriving in difficult times

The number one important thing to do during this drought is to look after you and your family’s health and wellbeing.

Droughts often increase mental health issues like depression and anxiety in our communities and households.

We need to reach out and check in on each other, and if you are struggling do not hesitate to get support. The NSW Government recently announced that farmers will have access to farmgate counsellors – here is the website to get more information.

Get a farm insurance or crop insurance quote

In addition to multi-peril crop insurance, did you know that we specialise in farm insurance that will protect your machinery, buildings, public liability, fences and stock? Most importantly, your family and your livelihood. Contact us online or call (02) 6892 1050 to talk about your specific situation and get a free, no obligation quote.

General Advice Warning
Please note: The information provided in this article is only general in nature – before making business decisions you should consider seeking advice specific to your situation.

bushfire-risk

Are you prepared for bushfire season?

Due to the well-publicised dry end of winter and beginning of spring we’ve had, our bushfire season is already well underway. And conditions are expected to continue to be warmer than average and drier than average from now through November, increasing the potential of bushfire risk. See the Bureau of Meteorology video below for more information.

Preparing for Bushfire Season – Climate outlook for September – November 2018

We hope that by now if you’re in an at risk area you’ve done some preparation, but if not, it’s not too late to start!

Here are four steps that you can follow to help you prepare for a bushfire:

  1. Make a plan for what to do if a bushfire is threatening your area, and discuss it with your family.
  2. Prepare your home and property to get ready for fire season (more detail on this in the next section).
  3. Stay aware and watch the bushfire alert levels.
  4. Organise all your bushfire necessities on your smart phone – bushfire information/alert phone numbers, websites and relevant apps, as well as your insurance broker’s contact details and policy numbers.

Prepare your home

Even if you plan to leave early should there be a bushfire in your area, preparing your home can help reduce potential damage to your home and contents. It can also make it easier for the firefighters to defend your property and even reduce the risk of spreading to your neighbours’ properties. Here are a few basic steps you can take to prepare your property:

  • Clean out your gutters and install metal gutter guards
  • Ensure your external walls and your roof are in good nick with no gaps, damage or missing tiles
  • Install metal mesh screens and fit seals around windows and doors
  • Enclose the areas underneath your house
  • Install a fire sprinkler system
  • Maintain your gardens and lawn and keep the grass cut short, as well as trimming back trees and shrubs (especially around buildings)
  • Check that your hoses reach around your house (or buy ones that do)
  • If you have a water source (pool, tank or dam), make sure you put a Static Water Supply sign at your property’s entrance so firefighters are aware
  • Prescribed burning and removal of combustible material can help prevent the outbreak of major fires (permits/permission or proper handling may be required)
  • Annually check that your insurance solution is up to date and adequate to cover your home, contents and property.

Did you know that there’s a bushfire risk management plan for every area of NSW? Click here to find one from your local area.

Check if you’re in a bushfire prone area

The NSW Rural Fire Service has prepared an online mapping tool you can use to identify if your property is designated as ‘bushfire prone.’  Simply click here, accept the terms and then enter the address that you’re checking for (disclaimers and terms apply, of course).

And don’t forget to make sure you’ve got the right insurance in place

Don’t assume that you’ve got the right cover, contact us for a free, no obligation quote to check your cover and make sure you’re getting a competitive deal.

cyber insurance, cyber crime, hackers, denial of service, ransomware

Attention Small Businesses – Think Cyber Risk Doesn’t Apply to You? Think Again.

Many of us have seen some of the world’s BIGGEST brands, Facebook, eBay, Target, Equifax, become victims to cyber attacks over the past few years. But while these attacks garner a lot of media attention, the reality is that most victims of cyber crimes and data breaches are actually small and medium sized businesses.

For small business owners, the idea of being hit by a cyber attack such as ransomware or denial of service is unpleasant and perhaps even daunting but many of us just cross our fingers and tell ourselves ‘it won’t happen to me.’

Unfortunately, that’s not what the numbers tell us.

The Cost of Cyber Crime

Did you know that cybercrime costs the economy over $1 BILLION each year?*

And the statistics are getting worse. According to Norton’s 2017 Cyber Security Snapshot, 1 in 4 Australian small businesses have fallen victim to cyber crime (this is up from 1 in 5 in 2016).

Almost 1 in 5 small businesses back up their data no more than monthly, but more than 1 in 3 businesses don’t think they’d last a week without their critical information!

If a small business experiences a cyber attack, it costs them on average $6,600 each time they’re attacked. We note ‘each time’ because according to a recent FireEye report, more than half of organisations that were targets of a significant cyber attack were targeted again within 18 months (and this trend is increasing).

For Australian businesses that employ 100-500 employees, the cost is upwards of $1.9 million if hit by a cyber attack, according to research released this week by global cyber security firm Webroot.

What Can You Do to Prevent Cyber Risk From Ruining Your Business?

Here are four ways you can help mitigate cyber risk in your business:

  1. Do your research and get both a security software solution and a data back up system.
  2. Keep these systems up to date – one of the biggest reasons that cyber attacks are successful is that your devices, routers, operating system, software or applications weren’t kept up to date with the latest versions and patches which can leave you with security vulnerabilities.
  3. Educate yourself and your team – employees are another large risk opportunity, make sure you and your people use security best practices such as learning how to spot email scams and using strong (and regularly changed) passwords.
  4. Consider adding a cyber insurance policy to help cover your business for financial losses resulting from cyber attacks.

If you want to get a free quote for your cyber risk insurance solution, contact us today.

*Australian Government Cyber Landscape

crop insurance, farm insurance, insurance broker, Trundle, NSW, Parkes

Why you should get a quote from an insurance broker versus an insurance agent for your crop insurance

Do you know the difference between an insurance broker and an insurance agent (or authorised representative)?

Insurance broker compared to an insurance agent

Basically, an insurance agent is a representative of an insurance company and sells insurance products or services to clients only from that company.

An insurance broker is a representative for YOU, the client, and we advocate on your behalf and in your best interest when we deal with the insurance company.

At GS Insurance, we are part of the Community Broker Network (CBN) and through CBN we have access to a huge range of insurers and underwriters to get quotes from or negotiate with to develop an insurance solution to meet your needs.

Putting your crop insurance into perspective

If you think about it in terms of your crops, you would always make sure that you were getting market rates. So why wouldn’t you do the same with your crop insurance?

If you go through an agent like Elders or WFI, they are limited to their own insurer and likely to only have one rate to give you. But if you go through an insurance broker like GS Insurance, we have access to all the major insurers to get you the best market rate for your area for crop insurance.

Don’t leave it to chance – get a quote for your crop insurance

Why not give us a call or email us and make sure you’ve got the market rate. It costs you nothing because it’s a free, no-obligation quotation, but you’ll have peace of mind that you’ve had your insurance solution reviewed and you have the right cover at a competitive price.

why choose an insurance broker, value of an insurance broker, small business insurance, NSW, Trundle

Should you use an insurance broker? Use these 3 questions to help you find out!

Most of us use a professional such as a solicitor for legal advice or an accountant for tax advice, but is it necessary to use an insurance broker to give you insurance advice?

Here’s 3 questions to help you decide if an insurance broker would benefit you.

1. Do you have a good understand of insurance and confidence that you have the right solution in place?

Insurance is complex, and getting it right can mean the difference between having peace of mind or heartbreak.

An insurance broker has the expertise to ask the right questions to understand your risks, and then ‘broke’ the insurance market to negotiate with insurers on your behalf to get you a good solution at a good price.

There’s no substitute for years of experience, training and professional development – each year insurance brokers have to participate in continuous learning to stay across changes in the market and emerging risks.

2. Do you want to save time, hassle and even maybe some money?

It may seem like buying your insurance directly online could save you time, money or hassle – and, we live in such an online and DIY (do it yourself) world that it normalises these kinds of purchases.

And, a lot of people are initially sceptical about paying a fee for an insurance broker’s services.

But an insurance broker is more than a middle man. They make sure that your insurance solution is tailored for you – and they can look after all your insurance needs in one place.

If you buy online, you may have to do hours of research and price comparisons to find an insurance solution for your business or your home, car and earthly belongings. What huge things to gamble with – the financial future of your business or yourself and your family! It’s a big decision, and one that an insurance broker has done years of study and experience to assist you with.

Insurance brokers not only have great connections and relationships with their insurer partners to try to get you the best insurance solution, they also have access to some solutions that are not available online through the direct market. Insurers often offer lower pricing to insurance brokers, because the broker is trained to select the right solution for clients and therefore less risk (i.e. risk of underinsurance) to the insurer. So save yourself time, stress and the hassle of shopping around and let your insurance broker guide you through the best options and deals for your needs.

3. Have you ever lived through making an insurance claim?

If you’ve ever had to make an insurance claim, you probably understand the value of an insurance broker. Making a claim is the moment of truth, when you’re calling in the ‘piece of paper and a promise’ (or ‘PDF and a promise’ as may be the case these days).

If you’ve gone direct to get your insurance online and made a claim, you’ve likely spent many minutes (or even hours) on the phone, waiting on hold, never speaking to the same person twice. Perhaps they’ve denied your claim or you didn’t get what you thought you were owed and you weren’t sure what avenues for recourse are even available to you.

If you’ve used an insurance broker, you speak with one person, who then manages the claims and all the back and forth for you, even negotiating with the insurer on your behalf to get the best possible outcome.

Working with an insurance broker, you can feel confident and have peace of mind that should you need to make a claim, you’ve got the right insurance solution to protect you and an insurance broker to support you, advocate for you and manage your claim.

Convinced that getting your insurance solution through an insurance broker is the way to go? Looking to discuss your needs? For a free, no-obligation quotation, contact the team at GS Insurance today. At the very least, you’ll get an idea of whether you have the right policies at a competitive price in place!

Best doctors, GS Insurance, CGU, Trundle, NSW

Read this Best Doctors case study and find out more about our offer

In case you missed it, GS Insurance is proud to be able to offer Best Doctors through a partnership with our network (cbn) and CGU.  Best Doctors is exclusively available to CGU Countrypak customers only.

Read below for a real life case study on how Best Doctors works.


“We live a long way from a major city and a lot of our consultations are done over teleconferencing. It was a true facilitation to find out the Best Doctors service works remotely. I’m very thankful for all the help and organization the Best Doctors team did for us.’’


Best doctorsName: Baxter
Reason for contacting Best Doctors: To confirm her son is receiving the right treatment
Best Doctors expert specialty: Paediatric Neurology
Service Used: In-Depth medical review

 


Courtney was having a healthy pregnancy until the situation changed when she underwent her 35th week ultrasound. The results revealed that the fetus had hydrocephalus, a condition in which fluid accumulates in the baby’s brain that in cases can cause brain damage.She was sent for an immediate MRI scan which confirmed that the baby had indeed experienced severe brain damage and that Courtney’s child might not survive birth.

Thankfully little Baxter was born and to his family’s relief, he wasn’t sent to the intensive care unit as they had originally expected. However, additional testing confirmed evident brain damage. Baxter wasn’t able to reach his growth and development milestones. He is unable to sit or crawl, communicate effectively through speech, has epilepsy and also has demonstrated signs that suggest a visual impairment. He also suffered from a hearing problem but thanks to the bilateral cochlear implants he had inserted he is now able to hear. His treating doctors officially diagnosed him with cerebral palsy, which causes Baxter to have impaired muscle coordination as a result of his brain damage.

A happy baby, Baxter always smiles and tries to interact with people, but he does require medical treatments and constant follow-ups. One of the biggest challenges Baxter’s parents face, is that getting Baxter the attention he needs from healthcare professionals is difficult as they don’t live close to a major city. They often have to resort to virtual sessions with physiotherapists as well as speech and occupational therapists. Courtney, who was naturally very concerned about her son’s well-being and development, felt she needed to be reassured that Baxter was indeed receiving the right treatment and care. She decided to reach out to Best Doctors, to use their renowned Second Opinion service accessible via her insurer.

The medical team at Best Doctors offered Courtney the support she was yearning for and they collected all of Baxter’s medical information and history on her behalf. The team prepared a clinical summary to kick-off Baxter’s second opinion process and selected a renowned pediatric neurologist with a sub-specialty in neurodevelopmental disabilities to review Baxter’s case. The specialist agreed with the original diagnosis the boy had received and explained that the cause most likely would have been a congenital CMV infection, a common viral infection that can negatively affect the foetus during pregnancy. The Best Doctors expert provided Courtney with a thorough report in which he explained what treatments would be most suitable for Baxter. Courtney couldn’t be more relieved to receive an additional medical confirmation that Baxter is indeed receiving the right treatment.

Thankful for the chance to review Baxter’s case, the Best Doctors expert encourages Courtney and her family to remain optimistic, as the future is difficult to predict. Even though Baxter will always need special care, Courtney now knows they are following the right treatment path.

It took a load of our shoulders to know that we are doing the right thing with our son. This gave us peace of mind that we are not missing out due to distance. It was great to be able to access international studies through the service.”

Source: http://www.bestdoctorsonline.org/marketing/Case_of_the_month/CGUAu/2017_September_Baxter_Paediatric_neurology.html 

tourism insurance, Trundle, NSW, Sandra Stevenson, NIBA, business insurance, hospitality insurance

GS Insurance’s Sandra Stevenson featured in tourism insurance article

We’re pleased to note that our own Sandra Stevenson was featured in a recent NIBA Insurance Adviser national industry magazine for her tourism and hospitality insurance expertise. See below for an excerpt with her comments from the article.

Small towns with big potential

The Australian Regional Tourism Network states that almost half of every dollar spent on tourism in Australia is spent in regional destinations. A lot of regional areas and towns are seeing growth and prosperity based on regular influx of tourists whether it’s for a certain season or for an event.

Sandra Stevenson from GS Insurance located in Trundle NSW says, “Tourism, travel and hospitality risks aren’t limited to the usual beach and winery destinations in Australia. Here in Trundle, NSW, our town grows by more than ten times its size for our annual ABBA Festival (6 May this year).”

She elaborates, “Also, our neighbours to the north, Tullamore, NSW, usually stages its Irish Music Festival at Easter. Events like these for regional Australian towns can make a huge difference to the financial wellbeing of the town and businesses within it, but there are also risks to be aware of that are associated with tourist drawcards like this.” One of the very real risks in Australia is a disaster or severe weather event occurring that prevents festivals like these from going ahead.

“A cancellation doesn’t just impact the event organisers, but it filters down to the local businesses as well,”  says Stevenson.

You can read the full article (PDF) here or find it online here.