News

/News

News category

Closing a business? Are you still responsible for your products?

2017-08-17T13:15:31+00:00 August 17th, 2017|

Maintaining insurance cover (“run off” cover) is something that many business owners may not think about when closing their business. However, for some this discontinuation of cover can leave a major business exposure and presents a risk to the owner’s personal liabilities and retirement funds.  A business may still have liability exposure even after their [...]

Bruce Insurance takes action to fix Aussie Swim teams failure at World Champs

2017-08-16T16:26:57+00:00 August 16th, 2017|

It may only be a small commitment but after the Australian swim teams failure at the recent world champs (beaten by Russia and Great Britain!) we think that grass roots swimming needs some help. We recently sponsored an event at the UWA West Coast Swim Challenge which involved 25 clubs from around Western Australia and [...]

What cover should I consider for my business?

2017-08-17T12:31:01+00:00 August 16th, 2017|

Risk, and even our perceptions of each risk, is a very individual thing. What is important to one business, may not be as important to another. Which means every business will have will have different needs when it comes to insurance. However there are common types of covers a business owner should consider to protect [...]

Are you paying $100,000 for a piece of paper?

2017-08-17T12:49:06+00:00 August 16th, 2017|

We recently completed a review for a prospective client where we found the above statement to be the case. During our initial meeting it became very clear that something had gone very wrong during the creation of their program leaving them significantly underinsured, and in some areas with no coverage at all. Effectively the client [...]

In memory of Stanley Melbourne Bruce

2017-08-16T15:06:43+00:00 August 16th, 2017|

30.08.1941-20.06.2017 Stan Bruce, the founder of Bruce Insurance (previously Stan Bruce Insurance Brokers), passed away peacefully at home on the 20th June after a two year battle with cancer. Stan was considered an insurance broking ‘legend’ in Perth after spending two decades as owner, operator and account manager of Stan Bruce Insurance Brokers. Prior to [...]

Product Focus – Business Interruption

2017-04-13T14:23:26+00:00 March 28th, 2017|

Business Interruption insurance is an insurance product that all business owners should consider. It is income protection for your business, protecting from financial loss following property damage. As you can imagine the ongoing financial loss often has far greater impact on a business than the property damage that led to the financial loss. While most [...]

Should I cancel my Professional Indemnity Policy?

2017-04-13T14:24:47+00:00 March 28th, 2017|

My business has closed – should I cancel my Professional Indemnity Policy? We often get queries from professional clients requesting that we cancel their Professional Indemnity policy as they will be closing their business. Unfortunately, Professional Indemnity insurance is not quite as simple as that, and we strongly recommend that clients give consideration to maintaining [...]

How long will my insurance claim take?

2017-04-13T09:37:15+00:00 March 28th, 2017|

When will the insurance company pay me! Insurance companies often get a bad rap for not paying claims or at least dragging their feet and seeming to make our lives difficult. As an insurance broker we have helped our clients settle many thousands of insurance claims and the reality is the majority of claims are [...]

Commercial Lease Agreements – A trap for the unsuspecting???

2017-06-21T16:57:05+00:00 February 13th, 2017|

Lease agreements are an insurance trap for any unsuspecting business owner operating from rented premises. Commercial leases nearly always impose insurance requirements and additional legal responsibilities upon the tenant, if these are not identified up front and addressed by adjusting the lease terms or your insurance policy you could find you are required to meet [...]