Question 1

What does an insurance broker do in Australia?

Accepted Answer

An insurance broker helps you assess your insurance needs, explore available policies, understand important conditions and arrange cover. Their service can also include policy changes, renewal reviews and claims support.Clarke Lyons Insurance is a Sydney-based brokerage assisting clients across Australia with business, professional indemnity, cyber, liability, property and specialist insurance enquiries. A broker’s comparison does not necessarily include every insurer or product in the market.

Question 2

How much does an insurance broker cost in Australia?

Accepted Answer

Insurance brokers may receive insurer commissions, charge service fees or use a combination of both. Costs depend on the services provided and the insurance arrangement.Before proceeding, ask for an explanation of the broker’s remuneration, applicable fees and total quoted costs. Using a broker does not automatically mean your insurance will be cheaper or more expensive than buying directly.Contact Clarke Lyons Insurance to discuss the services and costs applicable to your enquiry.

Question 3

Is it worth using an insurance broker instead of buying insurance directly?

Accepted Answer

An insurance broker can be useful when you need help assessing risks, comparing policy conditions or coordinating several covers. Businesses with specialist services, substantial assets or complex contracts may benefit from a detailed review.Buying directly can also be appropriate when you understand your requirements and the policy offered. Consider the scope of advice, available insurers, fees and ongoing support when deciding. Clarke Lyons can help you explore insurance options suited to your circumstances.

Question 4

What insurance does a small business or sole trader need in Australia?

Accepted Answer

The insurance you need depends on your activities, assets, employees, location and contractual responsibilities. Relevant covers may include public and product liability, professional indemnity, cyber insurance, business property and business interruption.Some insurance requirements arise from legislation, licences, leases or client contracts. Employers should also check the workers compensation requirements in their state or territory.Clarke Lyons helps small businesses and sole traders assess relevant general insurance options.

Question 5

How much does business insurance cost in Australia?

Accepted Answer

There is no single business insurance price that applies to every Australian business. Insurers assess factors such as your activities, turnover, location, insured assets, cover limits and claims history.The selected covers, excesses and policy conditions also affect the quotation. Compare what each option covers alongside its price; a lower premium may come with restrictions that matter to your business.For an assessment, provide Clarke Lyons with your business details, existing policies and required cover.

Question 6

What is the difference between professional indemnity and public liability insurance?

Accepted Answer

Professional indemnity insurance addresses specified claims arising from professional advice or services, such as an alleged error in a design, report or recommendation. Public liability insurance generally addresses covered liability for third-party injury or property damage arising from business activities.A consultant could face a professional negligence allegation and a separate claim after accidentally damaging a client’s property. Businesses with both exposures may need both policies.

Question 7

Do small businesses need cyber insurance, and what can it cover?

Accepted Answer

Small businesses should assess cyber exposures if they rely on email, online payments, cloud software, customer records or other digital systems. Cyber insurance may cover specified incident-response costs, data restoration, privacy liabilities and business interruption following an insured cyber event.Protection varies between policies. Fraudulent payments, social engineering, waiting periods, exclusions and security requirements need particular attention. Cyber insurance supports financial recovery; maintaining effective cybersecurity remains essential.

Question 8

What insurance does a commercial property owner or landlord need?

Accepted Answer

Commercial property owners should assess building damage, property owners’ liability and eligible loss of rent following an insured event. The assessment should reflect construction, replacement values, tenant activities, occupancy and lease responsibilities.A landlord’s policy should not be assumed to cover a tenant’s stock, equipment or business liabilities. Insured loss of rent following damage also differs from unpaid rent or tenant default.

Question 9

Does Clarke Lyons provide insurance broking outside Sydney?

Accepted Answer

Yes. Clarke Lyons Insurance is based in Bondi Junction, Sydney, and assists clients across Australia. Businesses in Melbourne, Brisbane and other locations can discuss insurance requirements through phone and email consultations.Available insurance depends on your activities, location, individual risk and insurer acceptance. Our location guides provide a starting point:Insurance Broker SydneyInsurance Broker MelbourneInsurance Broker Brisbane www.clarkelyons.com.au

Question 10

Can Clarke Lyons help me make an insurance claim?

Accepted Answer

Clarke Lyons provides claims support within the agreed service, including assistance with documentation and communication with the insurer. Notify your broker or insurer promptly and follow the policy’s reporting requirements.Useful supporting information may include incident details, photographs, invoices, contracts and correspondence. The insurer assesses whether the claim is covered and what payment applies under the policy.Contact Clarke Lyons on 1300 18 13 12 or gareth@clarkelyons.com.au to discuss a claim involving your insurance arrangements. www.clarkelyons.com.au

Insurance brokers for business, property and personal assets

WHY CLARKE LYONS

OUR SERVICES

Professional Indemnity Insurance

Directors and Officers and Management Liability Insurance

Strata Insurance

Prestige Home Insurance

Information Technology Liability Insurance

SME Business Insurance

Business Interruption Insurance

Commercial Property Owners Insurance

Marine and Cargo Insurance

Cyber Insurance

Contract Works Insurance

Public and Product Liability Insurance

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