Insurance Explained Special Event Held At Reef Gateway

On Tuesday evening we held a lively and informative ‘Insurance Explained’ event at The Reef Gateway Hotel in Cannonvale.

Attendees had the chance to listen to and interact with three industry experts from the Australian Financial Complaints Authority, Insurance Council Australia, and the Office of Queensland Small Business Commissioner.

Senior Ombudsman, Chris Liamos from the Australian Financial Complaints Authority gave people an understanding of what the Australian Financial Complaints Authority do, what type of complaints they deal with and how they go about resolving them.

General Manager, Regulatory and Consumer Policy of Insurance Council Australia, Alexandra Hordern, said “Insurance is often a critical precondition to doing business.”

“It is important that all business owners understand the risks facing their business and how to mitigate those to the best of their ability.

“It is also important to have good relationships with insurance brokers and insurers, so that business owners are able to clearly articulate their needs and risk management practices.”

Peter Maddock, Director Assistance for Office of Queensland Small Business Commissioner said that many small businesses rely on insurance claims to be finalised.

“We’re about helping small businesses gain access after disasters,” Peter added.

Hot topics of conversation were business insurance pain points, key influences impacting the cost of insurance premiums, the Cyclone Reinsurance Pool, underinsurance, relationships and access to quality insurance brokers, and practical tips to protect your business now from future natural disasters.

The event also provided a chance for the Whitsundays business community to provide feedback on what the visiting organisations can do to improve their communication and education to businesses and raise awareness of regional issues.