Establishing and operating a business involves a great personal and financial investment. The last thing you want to worry about is what would happen if a fire or court case ruined your business and you didn’t have adequate or appropriate insurance.

Unfortunately, in the midst of setting up a business, many people either forget to take out insurance, or try to minimize the costs by taking out less cover than they need. The 2001 ABS Small Business Survey estimated among businesses employing up to 20 people almost 200,000 were uninsured and about the same number were underinsured. This was starkly demonstrated in the aftermath of the 1989 Newcastle earthquake when 60% of effected small businesses did not reopen their doors.

As authorised representatives of Insurance Advisernet Australia, one of the largest privately owned insurance brokerages in the country, JV General* can help you put together a strategic insurance program.

We can advise you on what to insure and which risks to accept, manage and minimise. With access to over 50 insurers world wide we can provide the best coverage available at the most competitive premiums.

The four main categories of business insurance are:

Employers Liability or Workers’ Compensation
Workers’ Compensation insurance is a mandatory requirement for all businesses that employs staff on a casual, part-time or full-time basis. It provides cover for the financial costs of claims made by a staff member for work related injuries, disease, illness or even death.

Property Insurance
Property Insurance covers the costs associated with the repair or replacement of your physical assets, including your building, equipment, furnishing, fixtures, inventory, computers, and business documents and records. Examples of cover include:

Fire & Perils insures against destruction or damage to your business, including building and contents, from specified insured event, including fire, explosion, storm, and earthquake or water damage.

Business interruption covers you if your business is interrupted due to damage to your premises,
from an insured event, which affects the trading
results of the business.

Burglary covers loss of business stock, contents, and machinery by theft following a forcible and violent entry into the business premises.

Engineering equipment or machinery breakdown insures you against the cost of breakdown of machinery, computers and electronic equipment owned and operated by your business.

Loss of money protects you against the loss of or damage to your business’ money from theft, armed hold up or fire, either while the money is on your premises or in transit.

Goods in transit cover against the loss or damage to your property whilst it is in transit. This is available for Australia only or worldwide, depending on your business needs.

Glass breakage covers accidental loss or damage to internal and external fixed glass including perspex signs which you own or for which you are legally responsible.

Employee dishonesty (Fidelity Guarantee) protects you against fraudulent or dishonest conduct of employees acting alone or in collusion with others. This mainly relates to theft or misappropriation of money or other items, owned by you, by your employees.

Electronic equipment covers specified equipment such as computers, faxes and electronic cash registers against accidental loss or damage including theft and breakdown.

Car insurance
Commercial motor vehicle insurance insures you against loss of or damage to your business vehicles due to a collision and other accidental damage, theft, fire, and also includes indemnity for any legal liability for third party property damage.

Third party injury liability (Compulsory Third Party) protects your business from any legal liability arising out of an accident involving one of your vehicles that results in injury to another person.

Public, product and professional liability insurance
Public and product liability insurance and professional indemnity insurance protect the owners and operators of a business from their financial liability to third parties arising out of an event or occurrence that they are legally covered for during their operation.

The JV Financial Group aims to be your financial cornerstone as you build a safe, secure and prosperous future for yourself and your family. That desired future faces a minefield of risks including fire, accident, fraud and legal action. Having JV General as your risk manager can’t prevent those things happening but it can ensure that they are not financially devastating.

**The precise coverage afforded is subject to the statements and information in the relevant Product Disclosure Statement (PDS) and the terms and conditions of the insurance policy when issued. We recommend considering the PDS and policy wording when deciding whether to acquire this product.