1/7 The Esplanade, Mount Pleasant, PERTH, WA, 6153

+61 8 9321 1334

Insurance Products

Business & Office

Business insurance policies are designed to protect an entity for a variety of risks faced by a business owner. These risks protect equipment and machinery required for an entity to remain operating, employees and any associates directly linked to the business from risks faced by a business owner and financial support should the business not be able to operate due to unexpected events such as fire or natural disaster. Different sections in the policy include:

  • Property
  • Public & Product liability
  • Business Interruption
  • Theft & Burglary
  • Money
  • Vehicles
  • Glass
  • Deterioration of stock
  • Machinery / Equipment breakdown
  • Goods in transit / Property in transit
  • Computer & Electronic equipment
  • Tax audit

Commercial Motor

Commercial motor vehicle insurance policies provide coverage for a fleet of vehicles for material damage to the vehicle and Third party property damage for a limited liability of $20-$30,000,000.

Benefits include hire car costs and lease pay-out of vehicles following a total loss.

Construction Liability

Construction Liability insurance policies covers projects under construction, building materials and equipment onsite against fire, malicious damage, storm damage, water damage, accidental damage, impact by a vehicle and theft.

Typical coverage includes:

  • Material loss or damage to the works which reflect the complexities of the contract entered into and normally covers professional fees, debris removal and cost of dewatering, public authorities, air freight, inland transit, off-site storage, mitigation costs, plans, documents and data.
  • Legal liability to third parties.
  • The cover can be arranged on a project specific or an annual/floater basis to cover all work throughout the year.

Control of Well / OEE

The Control of Well/ Operator's Extra Expense (OEE) program provides exploration and production companies (domestic and multinational) the opportunity to reduce the cost of their risk while drilling in both onshore and offshore environments.

Control of Well Insurance covers expenses incurred in regaining control of a well after 'blowout', and may include:

  • Re-drilling Expense (covers the expense incurred in the restoring or the re-drilling of a well after a blowout to the original depth and comparable condition prior to the loss.)
  • Liability to pay third party bodily injury, damage to and loss of third party property, the cost of clean-up and defence expenses as a result of a blowout.
  • Sudden and Accidental Seepage and Pollution
  • Underground Blowout
  • Evacuation Expense
  • Deliberate Well Firing
  • Care Custody and Control
  • Coverage can be provided onshore and offshore, with limits form $2 million to $500 million.

Control of Well and OEE programs can be insured either individually or together in a contract know as an Energy Package.

Corporate Travel

Corporate Travel policies are designed to protect companies from a variety of business travel expenses without many of the usual restrictions and exclusions placed on regular travel policies.

Our underwriters are committed to developing innovative products and solutions to meet emerging gaps in key market segments. Our policies on offer are some of the few who offer cover for acts of terrorism and war.

Policy Sections include the following:

  • Personal Accident & Sickness
  • Medical Expenses
  • Emergency Medical Evacuation
  • Flight cancellations
  • Loss of luggage
  • Additional Expenses including Curtailment
  • Repatriation of Mortal Remains or funeral expenses
  • Missed Transport Connection Expenses
  • Baggage, Money, Travel Documents; including cover for Keys & Locks and delayed baggage
  • Loss of Deposits and Cancellation
  • Kidnap, Ransom, Detention & Extortion
  • Alternative Employee Expenses
  • Hire Car Excess
  • Extra Territorial Workers Compensation
  • Personal Liability
  • Evacuation Cover and Personal Safety for Political, personal safety and Natural Disasters
  • Life Insurance
  • Difference in Conditions
  • Travel & Emergency Assistance

Directors & Officers Insurance

D&O Insurance covers the people involved in managing and running an organisation and is designed to protect the personal assets of directors and officers by providing indemnity for loss arising from a claim as a result of a 'wrongful act' committed by them in the course of performing their duties. Under a D&O policy, a "wrongful act" is usually defined as an error, misleading statement, conduct, omission, neglect or breach of duty.

In the policy this may be stated as "any past, present or future director, secretary, officer, employee of the company or any trustee, or any natural person who by virtue of any applicable legislation or law is deemed to be a director or officer of the company".

It is important to note however that the insurance covers the individuals, not the company and so if a claim is made against the corporation itself then no cover applies.

The types of claims a Director of Officer could face are:

  • Alleged breach of Directors' or Officers' duties
  • Alleged breach of fiduciary duty
  • Defamation
  • Breach of the Trade Practices Act (misleading and deceptive conduct), and other statutes
  • Claims from an official investigation for example ACCC investigating a complaint of anti-competitive behaviour
  • OH&S proceedings
  • Infringement of intellectual property rights
  • Breach of confidentiality
  • Allegations of illegal or improper conduct
  • Insolvent trading

Where do claims come from? Directors' and Officers' of a corporation face both personal and corporate liabilities from numerous stakeholders including the following:

  • Shareholders
  • Employees
  • Competitors
  • Creditors
  • Regulators
  • Customers
  • Liquidators / Administrators

What is not covered? Every insurer's policy wording is different and so each wording must be considered on its own, however in broad terms you can expect to see exclusions such as:

  • Dishonesty, Criminal Intent, Improper Gain (Profit or Advantage) Insider Trading;
  • Fines, Penalties or Punitive Damages;
  • Insured v- Insured (This exclusion essentially prevents a company from suing or orchestrating a suit against its directors' and officers' in order to collect insurance proceeds.);
  • Major Shareholders (i.e. more than 15% of voting rights);
  • Asbestos;
  • Pollution (Except as provided for by Pollution Defence Costs)
  • Nuclear, War & Terrorism;
  • Professional Liability (Separate Professional Indemnity Insurance required)
  • Bodily Injury or Property Damage (Public & Products Liability insurance required);
  • Known prior claims or circumstances;
  • Contractual liability.

Environmental Liability

Environmental Impairment Liability policies protect the client from claims arising from pollution occurring due to an incident on their site or project. The implications following an environmental incident can be significant, both financial and business interruption, especially when the event generates substantial publicity.

As there is limited coverage provided under a standard liability or property insurance policy, the Environmental Impairment Liability policy is designed to help protect the asset of a company by filling the gap created by these existing policies.

The cover arranged would normally also feature the following items:

  • Bodily injury, property damage and clean-up claims
  • Covers both sudden and gradual events
  • Suits any contractor conducting work at third party job sites
  • Policies tailored to individual needs
  • Coverage that responds to the evolving environmental legislation

Industrial Special Risk

Industrial Special Risk (ISR) policies are the broadest and most cost effective way to insure buildings, contents and loss of profit asset values exceeding at least $5,000,000. ISR policies are flexible and can be used to cover a variety of different properties and risks depending on the nature of the risk and the insurers risk appetite.

An ISR policy consists of two main sections:

Section 1 Covering Material Loss or Damage

This section of the policy covers physical loss or damage to the insureds assets from events such as Fire, Explosion, Earthquake, Impact by Vehicles and Aerial Devices, Storm and Tempest, Cyclone, Malicious Damage and Vandalism, Accidental Loss or Damage, Burglary and Theft, Theft of Money, Damage to Plate Glass. Cover for Flood and storm surge cover can be included depending on the circumstances.

It is normal to find limits for the following items, under this policy:

  • Accidental Damage
  • Removal of Debris
  • Money
  • Burglary
  • Theft of Property in the Open Air
  • Extra Costs of Reinstatement
  • Landscaping
  • Loss of Land Value
  • Replacing Locks, Keys and Combinations
  • Plate Glass
  • Employees Tools & Equipment

Section 2 Covering Business Interruption

This section of the policy is often the least understood and therefore at ToleHouse we will spend considerable time with our clients when designing and implementing an ISR policy in order to ensure that the cover arranged is appropriate for your needs.

Under this section of the policy cover will be arranged for:

  • Loss of Profits or loss of Gross Revenue;
  • Loss of Rent;
  • Payroll;
  • Claims Preparation Costs;
  • Contractual Fines and Penalties;
  • Accounts Receivable.

ToleHouse prides itself on assisting its clients in designing and implement an ISR program that is suitable for your needs.

Marine

There is a wide variety of risks that may be covered under this class of insurance, including:

  • Goods in Transit within Australia, Imports or Exports (e.g. Loss or damage to building materials in transit by road, rail, sea or air);
  • Shipping Containers;
  • Property held on watercraft;
  • Commercial Vessels;
  • Pleasure craft;
  • Protection and Indemnity (i.e. legal liability arising out of the use of watercraft);
  • Charterers Liability;
  • Carriers Goodwill and Carriers Legal Liability;
  • Consequential Loss and
  • Stevedoring.
  • Innocent Mortgagee Cover for Banks and Financier

Professional Indemnity

Professional Indemnity Insurance covers the legal liability resulting from professional negligence, error or omission while conducting your business as a professional. Typical professions that require Professional Indemnity cover include;

  • Consultants
  • Building Inspectors
  • Engineers, Architects
  • Geotechnical Soil Engineers
  • Height Safety
  • Pest Controllers / Inspectors
  • Project Management,
  • Building Design & Construct Services
  • Surveyors
  • Accountants
  • Solicitors
  • Medical Service Providers
  • Business Advisors

These policies are written on a 'claims made' basis, which means claims can only be accepted when there is a current policy in force with an insurer. Retrospective cover can be arranged where the insured has ceased operations.

Third Party Liability

Third Party Liability insurance is designed to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. Liability insurance is designed to offer specific protection against third party insurance claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. When a claim is made, [1] the insurance carrier has the duty (and right) to defend the insured. In many cases, the defence portion of the policy is actually more valuable than the insurance, as in complicated cases, the cost of defending the case might be more than the amount being claimed, especially in so-called "nuisance" cases where there is no liability but the case has to be defended anyway.

Workers Compensation

Workers Compensation insurance covers an employer for their legal liability to employees in accordance with the applicable State or Territory legislation and is compulsory for all employers to arrange.

Each Australian State and Territory has different requirements and we will advise you of the appropriate cover for your specific circumstances.

ToleHouse

ToleHouse Products

ToleHouse Services

ToleHouse
Risk Services Pty Ltd

1/7 The Esplanade, Mount Pleasant, PERTH, WA, 6153

+61 8 9321 1334 (Broking)
+61 8 93645472 (Office)
+61 8 93159459 (Claims)



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