A Queensland-based engineering firm was experiencing a period of growth and had begun to perform contract work in Papua New Guinea (PNG). As part of their existing employment package, staff members had been given Queensland Workers’ Compensation cover. Their employer came to Insurance Advisernet Townsville, concerned that staff members may not have been adequately insured for their work in PNG.

After reviewing the existing policies, we concluded that their established cover provided no protection for work undertaken outside of Australia. We sourced a loss of income insurance program that offered international cover. The weekly level of protection on offer exceeded that of their Queensland counterpart.

Further, we tailored the new insurance package to include a medical evacuation program. In the event of a workplace injury whilst in PNG, workers would be entitled to be transported to an Australian hospital to receive treatment, rather than remaining in PNG and waiting for medical attention.

A national petroleum maintenance company was looking to expand their operation internationally. They came to Insurance Advisernet Townsville seeking a review of their existing business insurance package and guidance as to whether or not it could potentially provide adequate cover offshore. We set about conducting a thorough evaluation of their existing business insurance policies.

Upon review, we uncovered two potential problems. Firstly, their Professional Liability insurance did not provide cover for work undertaken at petrochemical plants, which posed a significant risk exposure given that a large part of their work was undertaken at such plants. Secondly, their existing Professional Liability cover did not offer protection outside of Australia.

An in-depth investigation revealed further holes in their business insurance program, which made no provision for theft or business interruption. Considering the value of their operation, it was also our belief that they were significantly under insured.

We recommended a restructure of their business insurance package to rectify the deficiencies outlined above. We also introduced a new insurer who was able to offer lower premiums. From the client’s perspective, our most significant contribution was to secure insurance for their expansion overseas. The client reported a renewed sense of confidence that they were adequately insured for business operations both at home and abroad.