Our broking division understands how every business is different. Regardless of which industry your firm operates in or the size of your organisation, we can design a distinct insurance program through our specialists teams, innovative thinking and geographical reach.
We partner with our clients to help them reduce their organisation’s risks by advising the best business practices and designing flexible cover tailored to your business strategies and growth.
Though our broking teams can provide corporate and commercial products across all industries, we have dedicated teams for Biotech & Life Science, Construction, Financial Institutions, Retail, Technology, Industrial Manufacturing & Professional Consultancy Services.
For more information click on the below categories:
Biotech & Life Science
Honan’s specialist Biotech and Life Science division was formed in 2002 to understand and address the emerging challenges faced by biotech, life science and pharmaceutical companies. Honan’s service extends to supporting consultants, including IP lawyers, regulatory bodies, venture capital companies and private equity investors.
Whether you are a private, listed or incorporated organisation there are unique policy features required when operating in the Biotech/Life Science industry, such as:
- Intellectual Property breaches
- Pollution Defence costs
- Statutory Liability
- Employment Practices Liability
- Crisis Containment
- Prospectus (IPO and other forms of capital raisings)
- Sponsoring of Clinical Trials
- Investigation/Inquiry costs
- Corporate Liability
- World Wide cover
Why should you partner with Honan?
- We have access to an exclusive facility to provide Clinical Trial Liability coverage where we can issue a local policy in any country around the world, in their language and currency.
- We can arrange policies for on shore and off shore Clinical Trials and any type of trial ranging from Medical Trials or Device Trials.
- We can arrange Stand Alone One Off Clinical Trial covers as well as Annual Clinical Trial covers.
- We can access all local and international markets that specialize in Directors & Officers Liability Insurance. We have particular expertise in structuring the best D&O cover for all types of Biotechs from smaller Pty Ltds to ASX listed companies.
Directors’ & Officers’
Without the correct Directors’ & Officers’ policy in place you may struggle to attract talented Directors and Managers, especially if your business is operating in a developing country. Luckily, we have been dealing with start up and R&D biotech companies for a number of years. Using our knowledge and leveraging our relationships with insurers in this space, we can design a program that meets your individual needs, regardless of where you are situated in the world.
Human Clinical Trials Liability
We understand the various countries’ Compulsory Admitted Insurance requirements, as well as the minimum insurance limits and other ethics committee’s regulations, meaning that whether you are sponsoring a small Phase I in Australia or sponsoring a major Phase III across many countries, we can provide expert advise and secure multiple Clinical Trials Insurance options for your company.
Clinical Trials Insurance can be done on individual or multiple technologies simultaneously. Policies and Certificates of Currency can be sourced and issued in most counties world wide, specifically Australia, USA, Canada, France, Italy, UK, Germany, South Africa, India, Singapore, China and Hong Kong.
Portable Medical Equipment can include mobile surgical equipment, mobile electronic devices used by the medical and first aid professions, and medical devices being trialed in the various clinical trials phases.
Key benefits of these policies include:
- cover for medical devices yet to be commercialised
- covers for loss in transit anywhere in Australia
- full accidental damage cover Australia wide
- full theft cover Australia wide
- cover for when items are in hospitals and/or labs occupied by you
- world wide cover available where required
- breakdown/malfunction cover available where required
- quotations can be provided over the phone or via email
- no proposal form is required to buy the insurance, nor are claim forms required in the event of a claim
Our dedicated and experienced team have decades of experience arranging construction insurance and developing programs throughout Australia and the Asia Pacific. When considering your risk, our approach includes the following services:
- Contractual review from cradle to grave approach
- Risk review prior to project commencement
- Understanding and ability to interpret project schedules and capex requirements.
- Experienced and commercial approach
- On-site surveys and visits
- Clear communication with principals and/or contractors, sub-contractors, consultants and other interested parties
- Insurance arrangements that remain flexible
- Accurate assessment of Delay In Start-Up (Advanced Business Interruption) exposures
- Accurate assessment of marine transit exposures
- Understanding the risks associated with long lead-time items
- Review of contract conditions in particular the Insurance and Indemnity clauses
- Claims management to ensure clients are correctly represented and their claims are paid in a timely fashion
- Presentation to project managers and other senior staff
Public Sector and Infrastructure
- Government and government-owned corporations in the placement of Principal Arranged Insurances for a wide variety of government projects including:
- Transport – streets, roads, freeways, tunnels, rail (including stations), light rail, ports and airports
- Water and Sewerage – WTPs, AWTPs, desalination, dams, pipelines, sewerage and liquid waste plants
- Civil contractors
Residential and Commercial Projects
- Land developments, subdivisions, residential housing estates
- Houses, apartments – low medium and high rise, medium and high density
- Shopping centres, supermarkets, , offices, fit-outs, workshops, technology parks
- Hotels and resorts, golf courses, marinas
Manufacturing and Industrial Projects
- Industrial, Transport & Manufacturing warehouses
- Food processing
- Cosmetics, pharmaceuticals
- Metals manufacturing – smelters and refineries, furnaces
- Oil and Biodiesel plants
Financial Institutions insurance is offered as part of the Financial & Professional Risks team at Honan. Our financial institutions team exclusively comprises seasoned, senior and expert individuals with the listening skills, technical knowledge and intellectual bandwidth to design and deliver agile and cost-effective risk management programmes.
We have expertise for all financial services organisations including, but not limited to, ASIC licensees, advisors, fund managers, share registry’s, venture capital / private equity, mortgage brokers, hedge funds, stockbrokers and lending institutions.
We are able to provide standard or tailored insurance solutions for Financial Institutions. Some examples of the modules and extensions available are:
- Professional Indemnity: protection against negligent errors and omissions or breach of duty
- Directors and Officers Liability: protection against Wrongful Acts in an individual’s capacity as a Director or Officer of the Insured
- Bankers Blanket Bond: protection for an Insured’s losses against criminal acts carried out by employees
- Unauthorised Trading Liability: direct financial loss protection against breaches of fiduciary duty
- Employment Practices Liability: protection for claims from employees against the firm
- Crime: protection for first party loss against dishonesty, fraud and other criminal or malicious losses
- Public Offering of Securities Insurance (POSI): cover for errors, omissions or misleading information when raising extra capital or listing the company on a public exchange
- Cyber and Data Liability: protection against misuse of confidential or privileged data and unauthorised use of, or access to, electronic data or software
Industrial & Manufacturing
Honan Insurance Group provides market leading general insurance broking services to the Industrial and Manufacturing sector. Our team of experienced broking specialists throughout Australia can provide tailored, practical insurance and risk management solutions for your business. Our staff have experience in both national and multinational insurance programs and can also undertake Insurable Risk Profiling and Business Interruption Reviews.
Honan’s approach is to partner with our clients to understand your unique business needs and objectives. We design insurance and risk management programs that meet your specific requirements and undertake annual reviews to ensure your program remains in line with changing needs.
Honan Insurance Group provides insurance solutions for a variety of large Industrial & Manufacturing clients including Engineering Works, Importers and Distributors, Specialist Products, Timber Merchants and many other businesses within the sector.
Typical covers placed into the insurance market include:
- Business Interruption
- Public Liability
- Products Liability
- Products Recall
- Environmental Liability
- Workers’ Compensation
- Professional Indemnity
- Management Liability
- Motor Vehicle
- General Property
- Machinery Breakdown
- Corporate Travel
- Marine Cargo
- Stock Throughput
Honan Group also places great importance on claims advocacy and our dedicated claims team will provide tangible benefits to our clients to ensure best possible outcomes.
Through our global network (WBN), Honan Group has access to the world’s leading risk experts and markets so can accommodate both national and multinational businesses.
Professional Consulting Services
Providing professional services is riskier more than ever due to increasing client, community and regulatory expectations of service, quality of advice and behaviour resulting in increased claims for alleged negligence or breach of duty.
Professional indemnity insurance is no longer a necessity solely for professions such as law, accountancy and engineering. Any professional service provider can be held liable for their actions and face costly legal expenses and damages.
Our experienced team can provide standard or tailored insurance solutions for a range of professional service providers including but not limited to:
- Recruitments Agents
- Management Consultants
- Human Resource Consultants
- Labour Hire
- Event Managers
- Marketing and Advertising
- WH&S Consultants
- Public Relations
For many professions, the associated governing body sets strict guidelines specifying a level of professional indemnity insurance cover that is required to trade. We work with many of Australia’s membership bodies and industry associations to provide business insurance that fulfils our customers’ needs, as well as relevant legislative requirements.
Retail organisations face a unique and complex risk environment – a continually changing litigation landscape, the evolving world of online sales & e-commerce, regulatory pressures, as well as a broad range of commercial considerations.
The Honan Insurance Group has been building a significant portfolio of retail clients for more than 20 years. We understand the needs of retailers and are equipped to deal with the broad ranging risk profile that represents this challenging industry. Honan continue to manage retailers ranging from 2 to 350 locations in both Australia and globally.
Our team of personal injury and products claim specialists utilise proprietary claims management software to identify and analyse loss trends and enhance risk frameworks. Our exclusive Insurance market agreements combined with robust data analytics and claims offering ensure our retail clients have the optimal insurance program tailored to their specific needs.
The Technology sector faces a very real threat of actions and claims from third parties. Risk mitigation has become a significant factor and at the forefront of process management for Technology users. Litigation and legal costs are on the rise and the most effective way for Technology organisations to protect their balance sheet and reputation is to ensure they have a specifically designed insurance program to suit their risk profile.
Catastrophic exposures range from breach of Intellectual Property, Copyright Infringement, Contractual Breaches (performance or delivery), Design Breaches, Loss of Data, Libel and Slander. Many major exposures exist, it is important to ensure your organisation has Technology specific insurance that addresses the needs of the many groups in this sector.
Honan has a broad ranging portfolio of IT clients both locally and globally including:
- Computer Consultants/ managed services
- Hardware/Software Resellers Software Developers
- Hardware Manufacturers
- Internet Service Providers
- Web Hosting Internet Services
- Telecommunication Services
- Systems Integration
- Maintenance and Repair
- Data Processing
- Data Warehousing
Through our global network, Honan have access to the world’s leading technology risk experts and markets. Honan proudly provide advice to ASX 100 companies, Fortune 500 companies and small privately held, local enterprises.