This claims story unfortunately is not a Disney Fairy Tale. This about a lesson in listening to advice provided and understanding the cover you have. This week a client called the office advising that one of the subcontractors they regularly use was chasing them for $50,000. Our client had received an invoice from the subcontractor via email, this email detailed that the subcontractor had new bank details and that the payment needed to go directly to these details. Our client promptly paid the invoice to the new account. Unbeknown to our client the email had been hacked and the new bank details were the hackers details. Our client has since contacted the police and the bank to attempt to recover his lost funds, these attempts have been unsuccessful. The client still owes his subcontractor more than $50,000. This is not something that is covered under a Public Liability policy, this is something that may have been covered under a Cyber Insurance policy. As the clients Insurance Broker we had previously recommended Cyber Insurance and the client advised he did not want cover. As your dedicated Insurance Broker it is our job to identify risks in your business and recommend solutions to solve them. As clients it is your job to listen to all advice provided. We encourage all clients to consider our recommendations thoroughly. However at the end of the day it is your decision to whether we can implement policies on your behalf.

        There are three main types of Motor Insurance: 1. Comprehensive 2. Third Party, Fire and Theft 3. Third Party only The most common cover we see everyday is comprehensive cover as this provides the best cover for your vehicle and any vehicle or property you may damage in an accident.  However the main benefits of a Comprehensive Insurance Policy [...]

You may assume that only large companies are at risk of having their information stolen.   However research suggests the opposite, everyone can be a cybercrime target – even small business owners.  It is your responsibility to protect your data and your customers information.   At Arma Insurance Brokers we aim to spread awareness of the Cyber Attack epidemic and ensure all our clients are protected. The result of a cyber attack can be devasting. Research shows that 60% of Small/Medium businesses who are hacked  go out of Business in 6 months. How can you protect your data? - Ensure Software licenses and anti virus updates are enabled - Regularly review how your information is stored - Plan ahead – what is your emergency plan if something happens - Educate your team in regards to online security - Have Cyber Insurance A Cyber insurance policy is part of a successful insurance plan.  It is not the first line of defence,  but it is designed to protect your business when the IT security, policies and procedures fail to stop an attack.  A Cyber Insurance policy includes the following: - Third Party Claims from the failure of keeping their data secure, - Business Interruption to cover the reimbursement for lost profits and the necessary costs to keep    the business operational, - Reimbursement of your costs including credit monitoring, cyber extortion and data restoration - An Emergency Incident Response Team to assist in the event of an attack.  For more information or a quote please contact our office.

Arma Insurance Brokers can now tailor Insurance packages to meet cafes. Arma Insurance Brokers covers cafes and restaurants across Australia and therefore we understand the risk and the products needed. The Tailored Package includes; Public and Products Liability Fire and Perils (Contents & Stock) Business Interruption Machinery Breakdown Glass Money

In January, we had one of the fastest ever claim outcomes! The client had damage to their pergola. On Monday morning the client provided the supporting documents – photos and a quote for repairs. The insurer agreed to settle the claim via a cash settlement, the client then provided their preferred bank details. On Tuesday at 9:29 the insurer processed payment into [...]