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Your guide to landlord rights and regs around Australia in 2021

Your guide to Landlord rights

About one in ten of us are landlords, compared with one in 15 about two decades ago. And, the latest Census shows about a third of Australian households (2.6 million, to be specific) rent.

But, with the Australian government’s rental debt relief, eviction bans, rent freezes, and JobKeeper disappearing at the end of March, there was potential volatility on the horizon. Commentators have estimated about one million people – or up to 15% of tenants - carry rental debt thanks to the impact of the coronavirus. That’s despite rent dollar levels being 1.4% lower than before the pandemic.

Over the coming months, we’ll see how it plays out, with each state or territory’s civil and administrative tribunal deciding if eviction is reasonable and proportionate. First, find out what’s happening with regulations in your state or territory.

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How increasing building costs could mean you’re now underinsured

Underinsured

Most people are aware inflation has been on the rise in recent months due to COVID-19 impacts. However, many are not aware of how significant the impact has been on the construction sector and what that means for their property insurance. As a result, the gap between what most people are insuring their properties for and the true cost of rebuilding is currently unusually large. Read on to learn more.

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What you need to know about the claims process

Claims what to expect

No business wants nasty surprises. So, when an adverse incident means you need to claim on your insurance policy, we will manage the process on your behalf.

Our expertise will help save you time, money, and stress. In fact, a Deloitte report found brokers/advisers save their clients on average 11 hours a year, not just with faster claims receipts, but also with practical risk advice and customising insurance policies to business needs.

Here’s a six-step overview of what happens from go to whoa once we lodge a claim for you.

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Changes ahead: getting and maintaining registration for Design and Building Practitioners working on Class 2 buildings in NSW.

NSW Building Designers

Changes are coming for the building and design sector as part of the NSW Government’s response to the Shergold Weir Building Confidence Report.  Aimed at strengthening compliance in the building sector, the changes have come about following a string of construction disasters and failures in high-rise apartment buildings.

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Changes to the residential building industry in NSW: Class 2 building industry reforms

NSW  Draft Design & Building Practitioners Regulation

Long awaited changes are coming to the residential building industry. 

In the wake of construction disasters and significant failures in building standards in high-rise apartments in recent years, the initial changes focus on Class 2 buildings.            

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Insuring your whole business? Is that even possible?

Insuring your whole business? Is that even possible?

Wouldn’t it be simpler and easier if you could insure your whole business with a single policy? Here's how.

 

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Are you doubling up if you have builders' risk and general liability insurance?

Builder

With builders’ risks escalating and an increasingly tougher regulatory environment across Australia, how can construction contractors protect against potential liabilities and losses?

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NSW Draft Design and Building Practitioners Regulation: are you ready to declare?

NSW  Draft Design & Building Practitioners Regulation

 

The NSW Government's draft Design and Building Practitioners Regulation 2020 outlines rigorous reforms that will affect design practitioners and builders who work on multi-storey residential building projects.

In order to provide you with up-to-date information to help you understand the upcoming changes in NSW we have sourced the following article from leading Australian law firm Clayton Utz.

 
 
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Why construction businesses need professional indemnity insurance

P.I.Insurance

There’s a lot at risk if you’re running a construction business in Australia.

Increasingly, professional indemnity (PI) insurance is a must-have for construction professionals. Should you already have this cover, have you checked if the policy adequately protects you now and into the future?

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Landlord insurance demystified in under 3 minutes

Landlord Insurance

Has COVID-19 made you unsure about managing the risks of owning an investment property? This article will update you on what landlord insurance will and won't cover in light of COVID-19. And, a forewarning, there are a lot of grey areas.

Landlord insurance is shorthand for building, contents or rental cover, or a mix of these for a property you rent out. The 'contents' in the property you rent out are the fixtures such as carpet and floor coverings, light fittings, appliances and window coverings. This doesn't cover your tenants' possessions.

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Heavy commercial transport: what could possibly go wrong?

Commercial Transport

Heavy commercial transport helps keep our economy running smoothly, but there's a lot that can go wrong if you're running a transportation business.

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What is Commercial Legal Protection cover?

What is Commercial Legal Protection cover?

Commercial Legal Protection is designed to help SME businesses deal with unexpected legal issues not already covered by their other insurance policies. Intended to complement traditional SME policies, rather than substitute core insurance cover, the policy provides expert legal assistance when an insured really needs it and protects them from potentially crippling costs which will have to be incurred, regardless of any fault on the client’s part.

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Empty building or business? Here's how to manage your risks

Empty Office

Why your empty business or building could be a surprising insurance risk for you.

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Workplace manslaughter offences: could your business defend itself?

Workplace manslaughter offences: could your business defend itself?

In 2019, WorkSafe Victoria reported there were over 27000 claims for injured workers, and sadly 24 workplace fatalities occurred in the state. The tragedy of one person losing their life on the job has a longstanding effect on family, colleagues and friends, so even one workplace death is too much. As a result, new laws have been created to assist in preventing workplace death. Because everyone Australian worker has the right to go home safely to their loved ones at the end of a workday.

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Building Designer Registration in NSW: Everything you need to know

Copy right

Over the coming months, we will be producing a number of articles to fully brief you on the upcoming introduction of Registration of Building Designers (and other symbiotic Building Professionals) in New South Wales (NSW), and the national push for consistent Australia wide Registration of Building Professionals.

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Builders’ Insurance – why you should consider annual policies

Builders’ Insurance – why you should consider annual policies

Builders come in all shapes and sizes. And not just physically.

It doesn’t matter if you’re an owner/builder, builder, sub-contractor, employ two people or have 2000 employees relying on you, you need to have the correct insurance in place.

As builders and their projects are all different, so are the insurance packages on offer.

Not sure what to do? We’ve put on our safety hats and we’re here to help

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Dry Hire Insurance and how to ensure you're covered

Dry Hire Machinery

Does your business hire out equipment? You know that the potential loss or damage to your machinery and equipment will be costly, so making sure you have suitable insurance for your dry hire business is extremely important.

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Working from home - are you covered?

working from home

Right now, working from home has become the new norm. We understand you’ve got a lot on your plate – you may suddenly be sharing a workspace with your partner. Have kids at home. Are having trouble getting basic items for your family. And you may even have unexpected money issues.

That’s why it’s more important than ever to ensure your home and contents insurance policy will cover your changed circumstances.

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Insurance for the building and construction sector

Insurance for the building and construction sector

Whether you’re an owner builder, a contractor or a large construction company, you’ll need a range of insurance covers to safeguard your workers, building and equipment.

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Why Professional Indemnity Insurance is vital for builders

Why Professional Indemnity Insurance is vital for builders

Are you unnecessarily exposing your business to potential losses and legal action if any issues arise with a property you have built?  While you likely have some insurance in place, are you sure you have the right cover? Because when it comes to the construction of a property, even if other contractors are involved, you as the builder have the closest relationship with the client. In their eyes, the buck stops with you.

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Understanding claims made polices and run off cover

Understanding claims made polices and run off cover

These days, anyone running or operating a business may need several different types of insurance policies to help manage the risks connected with their business. While different types of policies may seem similar, the trigger for a policy to become active may differ.

If you have Professional Indemnity (PI) Insurance - which covers you for claims by others for negligence, errors and omissions in the delivery of your professional services - you may not be aware they are what is referred to as a ‘claims made’ policy as opposed to ‘claims occurring’.

What this means is that your policy is triggered by a claim being made against you during the period of insurance. To ensure you are covered, you must have a policy in force on the date on which the claim is being made.

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Do you have enough insurance for your small business?

Do you have enough insurance for your small business?

Underinsurance remains a serious issue for small businesses, with the Insurance Council of Australia’s (ICA) statistics showing 12.8 per cent of small businesses and 24 per cent of sole traders have no insurance.

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Make sense of the Insurance Market

The Insurance market

Like any market, the insurance market experiences different cycles that can affect pricing and how easy it is to get cover.

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Are you under-insured?

Under Insurance

Your business is probably one of the most valuable assets you have - so it makes sense to protect it in good times and bad. 

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Landlord Insurance at a glance

Landlord Insurance

Like home insurance, landlord insurance can cover your rental property and its contents against risks like storms, floods, and fire. It can also cover the damage that tenants can cause to your contents - and even loss of rental income. 

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Strata Insurance at a glance

Strata Insurance

If you own a townhouse, unit or apartment and you're sharing common space with others, you don't want to be left to foot the bill if there's damage to shared parts of the building or items. Strata Insurance protects the building and common areas or facilities, with the premiums paid for by the owners' corporation. 

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Professional Indemnity Insurance at a glance

Professional Indemnity Insurance

Anyone can make a mistake - but if your business is found liable for negligence, the costs can be financially devastating. Not only can it lead to an expensive lawsuit, but your business's hard-earned reputation may be damaged as a result.

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Marine Transit Insurance at a glance

Marine transit

Marine transit insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.

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Motor Insurance at a glance

Motor Insurance

If your car is damaged in an accident where you're at fault, having comprehensive motor insurance helps to pay for repairs - or can replace it altogether if your car is written off.

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Public & Products Liability at a glance

Public & Products Liability

If an accident or unforeseeable incident causes damage or injury to someone (other than your employees), you may be found legally liable to cover the costs.

Public liability insurance can help to protect your business from the financial risk of liability claims - giving you the certainty you need to trade with confidence. 

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Home & Contents Insurance at a glance

Home & Contents Insurance

If your home and its contents were damaged or destroyed in a natural disaster or accident, or all your valuables were stolen, could you afford to replace them?

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Corporate Travel Insurance at a glance

Travel Insurance

When business travel doesn't go to plan, Corporate Travel Insurance can help to cover out-of-pocket costs to your business and employees. 

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Cyber Protection Insurance at a glance

Cyber Insurance

Cyber Protection Insurance is a relatively new form of cover. It's designed to help protect your business from the financial impact of computer hacking or data breach. 

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Contract Works Insurance at a glance

Contract works insurance

When you're working on a construction site, plenty of things can go wrong. Damage or loss to a building could cost you time, money and even your reputation. Meanwhile, an onsite injury can result in considerable pain, stress and financial loss.

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Management Liability Insurance at a glance

Management Liability

When you're running a business, you may be personally liable for any actual or alleged breaches of the Corporations Act. 

And it's not just large companies that are exposed - small and medium business owners and officers could be at risk as well.

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Business Insurance at a glance

Business Insurance

A business takes years to build - but an accident or disaster could destroy it all in minutes. That's why businesses should help protect themselves with a quality business insurance pack.

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Understanding copyright for architects and building designers

Understanding copyright for architects and building designers

There’s a common saying imitation is the sincerest form of flattery. But when it comes to building design, where considerable time and effort has been put in, the last thing you want to see is a replica of your work produced by someone else.

That’s why copyright is so important to the building industry. It ensures your rights are protected.

How can you ensure that your designs, drawings and plans are protected? And what can you do to avoid infringing on someone else’s designs? We take a look at what you should know when it comes to copyright for architects and building designers.

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Why is it important to list all business activities on your insurance policy?

business activities

When it comes to your insurance, you need to make sure that not only do you have the correct policies set up, but they are tailored to cover your particular needs. 

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cgib featured in Tilt Magazine!

cgib featured in Tilt Magazine!

Thank you to Build in Common for featuring our article in their latest edition of Tilt Magazine. If you are building or renovating this magazine is a great resource, check out page 11 for some great information on insurance for owner builders.

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The tradie's guide to insurance

The tradie's guide to insurance

You've got your tools, you've got your ute, you've got your ABN. You're all set, right? Not so fast. It's important to cover your back, too - here's a guide to what insurance you'll need and when.

 
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What insurance do contractors and sub-contractors need?

Puzzle pieces

As a business owner, hiring a contractor or sub-contractor can be handy for seasonal peaks or one-off projects. A contractor means any person or business you hire on a contractual basis and is not your employee. 

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How to protect your business against non-compliant cladding

How to protect your business against non-compliant cladding

The UK's Grenfell Tower disaster has had widespread implications for professionals in Australia's contruction industry. Here's how to help protect yourself if you're a contractor who's worked on any Australia building project. 

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Why you need to have the right entities as named insured on your Policy

Named Insured

When it comes to a liability policy, you want to make sure there’s no easy reason for an insurer to decline indemnity.  One of the most common issues we see is not getting the name insured right on a policy. 

You’d think it would be simple, right? But a lot of businesses need help in ensuring all trading entities are noted as insured on the policy schedule.

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When to provide your Professional Indemnity Insurance Policy

When to provide your Professional Indemnity Insurance Policy

Professional Indemnity Insurance provides protection for a legal liability to defend yourself against an actual or alleged error or omission in your work.

It can protect your business and reputation against a range of claims including errors in council submissions, lost documentation, inadequate advice, and acting without proper instructions from your client.

While it’s an important insurance for building designers, architects and other types of building professionals and consultants to have, at times it can be confusing when you should or shouldn't provide evidence of having this insurance for your business.

In this article, we look at the different requirements for Professional Indemnity Insurance as well as the instance for when you should produce your policy if you are asked for it.

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Commercial Landlord Insurance - don't rely on a tenant to protect your assets

Commercial Landlords Insurance

It’s common in commercial real estate leasing for a tenant to pay various outgoings related to the building and its use for the term of their tenancy. But is it a good idea to leave the responsibility of insurance coverage to them as well?

 

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Non-Compliant Building Materials - Professional Indemnity Insurance Exclusion

Non-Compliant Building Materials - Professional Indemnity Insurance Exclusion

You may have heard in the media the many issues relating to the dangers of Non-Compliant Building Materials in particular flammable cladding and the flow on effect this has to Professional Indemnity Insurance Policies. Due to these issues, (such as the cladding building fires in London and Docklands) many of the insurers have reacted by adding policy cover exclusions regarding to claims arising from non-compliant building materials and the insurers are also raising their premiums.

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Professional Indemnity Insurance - Tips & Traps for Contracts

Contract

P.I. Insurance: tips and traps for construction contracts, If you need assistance with contracts please contact cgib and your account manager will advise you on services we can offer. 

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How can we assist you with Contractual Liability?

Contract

Many of our clients are regularly asked to sign contracts. How much do you know about contractual liability and the IMPACT it can have on your insurance policies and even your assets?

Do you have the right cover or are you exposed?
 

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Domestic Warranty Insurance - Process & Application Tips

Domestic Warranty Insurance  - Process & Application Tips

We would like to provide you with an update on the DBI product, process and how we can assist you obtain the Insurance.

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Keep your family, home and business safe this summer

Keep your family, home and business safe this summer

Natural and man-made emergency situations can happen at any time.  A household emergency plan is to help you and your family be better prepared for an emergency. Use it to record evacuation routes from your home and important numbers and contacts.

Assessment and planning to determine what disasters are more relevant to your home and area where you live can help you and your family reduce the impact of the emergency and may recover quicker afterwards.

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