Our associations with industry networks enable us to keep abreast of global insurance trends, news and practices which ensure that our level of service, systems and knowledge are of a global standard.
Worldwide Broker Network (WBN)
Since November 2001, Honan Insurance Group has been a member of the Worldwide Broker Network. With partner firms represented in over 100 countries throughout Europe, North, South and Central America, Africa and the Asia Pacific region, the WBN is the largest fully integrated network of independent property & casualtybrokers and employee benefits consultants in the world.
Partnering with the WBN gives us the ability to handle localised insurance and employee benefits programmes for globally managed insurance programmes, ensuring that our clients receive comprehensive service from a single source.
In an increasingly global business environment, our association with the WBN also allows us to provide an internationally integrated service for Australian-based companies with overseas interest, as well as international companies doing business in Australia.Watch Why WBN in 100 Seconds
International Benefits Network (IBN)
Since May 2010 Honan Insurance Group has been a member of the International Benefits Network (IBN). The IBN is a network of independent employee benefits consultants in over 70 countries, providing members and their clients with global employee benefits expertise and promoting global standards in employee benefit consulting.
By extension of the International Benefits Network, you have a consultant who:
- Provides expert local advice
- Understands you, your organisation and its policies
- Has speedy access to specialist advice on current conditions internationally
- Can analyse your problem efficiently and develop recommendations
- Can implement an agreed solution utilising other members of the IBN to undertake the work, or put you in touch with other respected professionals such as accountants or lawyers in the appropriate countries
Since March 2003 Honan Insurance Group has been a member of Steadfast which is a group of more than 280 government regulated insurance brokerages operating from over 400 offices Australia wide.
Annually, Steadfast Brokers generate $4.1 billion in sales, providing Steadfast with enormous buying power when negotiating with insurers. This allows Steadfast to develop custom policies with major insurers and back end tools and services for the exclusive use and enhanced professionalism of Steadfast Brokers.
Steadfast ensures we have a competitive edge in a dynamic market place and enables us to offer our customers access to multiple insurance companies, a broad range of products, competitive pricing, valuable advice and quality services.
At Honan Insurance Group, we believe in providing a fully integrated financial service. Therefore, we provide financial planning advice for both companies and employees, through our associated company, Remunerator Financial Services.
Remunerator can also provide salary packaging, with a sophisticated electronic funds transfer based administration system, which streamlines your processes while maximising employee benefits.
Our independent financial consultants are also available to both you and your employees. They can provide detailed taxation and investment advice, so your business remains secure in the present, as well as prepared for the future.
Council of Insurance Agents and Brokers (CIAB)
Since 2007 Honan Insurance Group has been a member of the Council of Insurance Agents and Brokers (CIAB).
CIAB is the voice of the market leaders and the premier association for commercial insurance and employee benefits intermediaries in the United States and abroad. From its headquarters in Washington D.C. the CIAB represents leading commercial insurance agencies and brokerage firms and only the top one percent of all agents and brokers qualify.
The CIAB's members operate in more than 3,000 locations, place 80%, well over $90 billion, of all U.S. insurance products and services protecting business, industry, government and the public at-large, and they administer billions of dollars in employee benefits.
Since 1913, CIAB has worked in the best interests of its members, securing innovative solutions and creating new market opportunities at home and abroad.
National Insurance Brokers Association (NIBA)
Since 1988 Honan Insurance Group has been a member of the National Insurance Brokers Association (NIBA), an organisation which represents the interests of the insurance broking sector in Australia.
NIBA members range from large international brokerages to small suburban brokerages and through representation, communication, information and education, NIBA ensures the insurance brokers’ interests are protected and their professional standing enhanced.
The insurance and risk business is highly regulated, and intermediaries are subject to a wide range of professional and legislative pressures. To thrive in such a demanding environment they must be able to keep pace with constant changes in the risk factors Australian businesses face.
NIBA supports its members through its lobbying, education, technical and information services and our members are recognised as having a high standard of professionalism and knowledge through ongoing educational support and technical development.
Regional Network Alliance (RNA)
Regional Network Alliance (RNA)
The RNA is a synergistic network founded on 20 October 2004 to initiate a dynamic spring board for regional business networking in Singapore and the insurance brokers in the region.
Our partnership with the RNA allows us to:
- Exchange timely business ideas and expertise
- Develop relevant products
- Manage operational insights in different countries
- Assist clients in managing the country and market risks
- Provide strategic advantage to clients making inroads into the Chinese market
- Enlargement of our geographical footprint to benefit our clients
Australian and New Zealand Institute of Insurance and Finance (ANZIIF)
Honan Insurance Group is an advocate of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF). The institute is a leading provider of education, training and professional development services to the insurance and financial services industry in Australia, New Zealand and the Asia Pacific region. ANZIIF is one of the oldest and most respected professional associations in the region, and continues its commitment to lifelong learning.
Honan’s Chief Operating Officer (COO), Amanda Honan, is a member of the ANZIIF Women’s Council. This council promotes sharing of knowledge between women across insurance and finance industries in the pursuit of professional excellence.
Andrew Fluitsma features on Sky News to present on the importance of brokers.
Our new brand and updates to the Honan Senior Executive Team
Farewell to FOS. Welcome, AFCA!
- From 1 November 2018, you will need to contact Australian Financial Complaints Authority (AFCA) to resolve any disputes about financial products and services provided by financial firms
- Prior to lodging your complaint with AFCA/Financial Ombudsman Service (FOS), please contact us immediately as we will attempt to resolve your complaint as soon as possible
|Melbourne PO Box 4747 Melbourne VIC 3001||Sydney PO Box R1782Royal Exchange NSW 2002|
- If lodged before 1 November 2018 Financial Ombudsman Service Australia Online: www.fos.org.au Email: firstname.lastname@example.org Phone: 1800 367 287 Mail: Financial Ombudsman Service Limited, GPO Box 3, Melbourne VIC 3001, or
Growth of our Sydney Strata division
Honan hosts the inaugural WBN Asia-Pacific Regional Conference in Singapore
- Lloyd’s of London (Asia)
- Beazley Group
- Liberty International Underwriters
Tougher penalties for Privacy Act breaches
- Penalties increased from $2.1m to $10m for serious or repeated breaches.
- Providing the OAIC with the infringement notice powers, up to $63,000 for body corporates and $12,600 for individuals who fail to cooperate.
- Introduce requirements for breaches to be addressed by third party audits, to ensure those directly affected are advised.
- Require social media and online platforms to stop using or disclosing an individual’s personal information upon request.
- Introductions of specific rules to protect the personal information of children and other vulnerable groups.
Changes in legislation needed to fix the NSW construction industry
SYDNEY, AUSTRALIA.Déjà vu? Once again, another Sydney apartment block has been evacuated due to observed structural cracking in the building’s underground car park. Mascot Towers, a 131-unit complex at No. 1 Bourke St Mascot was evacuated last Friday evening (14 June) with residents given short notice to vacate their apartments. On Tuesday, there was still no advice on when residents would be able to return to their homes permanently. This follows on from the dramatic Christmas Eve (2018) evacuation of Sydney Olympic Park’s Opal Tower. The cause of the cracking in Mascot Towers is yet to be determined, and alleged possible causes may include neighbouring construction work or the original design and construction 10-years ago. Mascot Towers was constructed over 10-years ago, meaning that any building defects will not be covered by building warranty insurance (referred to as Home Builders Compensation in NSW), leaving the unit owners to pay for the repairs. If the neighbouring construction project is to blame, then a lengthy legal battle may occur regarding various other insurance covers. Currently, NSW law states that future owners of a property are covered for the statutory warranty period–six years for major defects in the work and two years for other losses from the date of completion of work. With many building defects appearing after the six-year statutory warranty period, there is a need for major changes to be made to NSW laws to protect property owners buying off a plan or buying buildings younger than 10-years old that were poorly built. The strata industry and Strata Community Association (SCA) will continue to advocate for change and encourage the government to further regulated the relaxed approach to building completion sign off and hold the construction industry to account for faulty work. In February of last year, the NSW Government told the COAG meeting that it would introduce new legislation to improve consumer protection if they won the next election, these included: – Builders needing to sign off that building was constructed in accord with certified plans – Allowing Owners Corporations to litigate for negligence if building code was not carried out This new legislation is still to be introduced, and many people in strata see this legislation as not being tough enough on the construction industry who are accountable for this issue. With research finding that 72-85%  of owner’s corporations identifying major defects in their buildings, it is important that strata managers and the SCA continue to do what they can to influence the federal and state governments into reforming legislation as soon as possible.  https://aib.org.au/wp-content/uploads/2019/02/NSW-Government-Media-Release-2.pdf  https://cityfutures.be.unsw.edu.au/research/projects/defects-strata/
We welcome Eliza White as Director of Operations - Asia
Rebranded specialty division reflects Honan’s strength in managing professional and executive risks, especially in a challenging market.
- Providing Directors, the knowledge and tools to personally engage with senior management to set and manage D&O forecasts and expectations.
- Working with insureds to be proactive and commence the renewal process early, allowing time to address any surprises or consider strategies which may mitigate premium increases.
- Examining insurer selection, transparency, relationship management and adequately conveying the client’s individual risk profile in underwriter presentations to help mitigate the prevailing market issues and assist the company to stand apart during this market correction.