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HONEIN Quarterly Market Update

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November 21, 2023
Professional Services
Corporate Risk

Ensuring a Secure Transition: Run-off Insurance and Warranties & Indemnity Insurance for Acquisitions

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November 20, 2023
Corporate Risk

Going Global? Ensure Your Business Insurance Is Too

If your business is planning to expand into new countries, there are many things to consider, and insurance can often slip down the list of priorities. Having the right insurance in place can enable you to grow with confidence, knowing you have consistent and robust coverage wherever you operate in the world. Jennifer Gray outlines ways you can structure your global insurance program, depending on your business’ exposures, regions, and preferences.
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November 20, 2023
Life Insurance

Five eye-opening misconceptions about life insurance in superannuation funds

While 8 million out of the approximately 15 million Australians who hold superannuation accounts are covered by some form of life insurance within their superannuation, due to the standardised level of cover it is likely that many Australians are unknowingly underinsured. Tyler Scarce, Risk Advisor at Honan Life, explores common misconceptions about life insurance products and highlights the importance of understanding your personal risk exposures
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November 13, 2023
Corporate Risk
Technology

Taking flight: why drone insurance is important for commercial use

The global market size of commercial drones is forecast to grow in the coming years. From capturing breathtaking footage to 3D mapping, product delivery, and use in construction and agriculture, Australia is embracing drone use. With the uptake of drones to support jobs across the economy, drone insurance or insurance for remotely piloted aircrafts (RPA) becomes essential for businesses. Chris Papakostas takes a closer look at why you should consider drone insurance and how to secure it.
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November 8, 2023
Workplace Risk

Avoiding Work Party Pitfalls: Tips for Celebrating Safely in 2023

Office parties and festive season activities are a welcome opportunity to celebrate the end of another memorable year. Unfortunately, workplace injuries can occur and organisations may be liable in the event of a staff member’s accident, injury or illness while in attendance. To ensure you are well prepared, Jules Paolino, Client Manager – Risk Consulting, has provided top tips to help keep your business celebrations safe and joyful this year.
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November 8, 2023
Financial Institutions
Professional Services

Warranty & Indemnity Insurance: Key Trends and Considerations in Business Deals

Warranty and Indemnity insurance (W&I) is an insurance solution that provides coverage for breaches of warranties and indemnification claims outlined in sale and purchase agreements. This insurance safeguards against losses or liabilities arising from undisclosed or unknown issues and indemnities. Essentially, the insurer assumes the responsibilities of the party providing the contractual warranties and tax indemnity. W&I insurance functions alongside negotiations and serves to enhance, rather than substitute, a thorough due diligence process. Here's a snapshot of current trends and considerations in W&I insurance to help you make an informed decision about your transaction.
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November 2, 2023
Corporate Risk
Employee Benefits
Financial Institutions
Technology
Start-Ups

HoneIn FY24 Q1: Global & Networks Market Update

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November 2, 2023
Transport & Logistics

HoneIn FY24 Q1: Transport & Logistics Market Update

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October 30, 2023
Financial Institutions
Professional Services

HoneIn FY24 Q1: Professional & Executive Risks

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October 30, 2023
Transport & Logistics

HoneIn FY24 Q1: Transport & Logistics Update

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October 30, 2023
Strata News

Unpacking historic catastrophes: how does it impact the insurance industry today and in the future?

The rising cost of living, driven by high inflation, highlights a pressing issue for the insurance industry and its customers, specifically the affordability and availability of insurance. This article takes a closer look at the new data which help to better understand and prepare for a future where extreme weather events won’t be a mere exception.
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October 23, 2023
Corporate Risk
Financial Institutions
Professional Services

ASIC takes aim at boards and executives for cybersecurity failures

In an era where digitalisation has become synonymous with business operations, the threat landscape has evolved and cybersecurity has taken centre stage. The Australian Securities and Investments Commission (ASIC) is stepping up its efforts to hold boards and executives accountable for cybersecurity failures within their organisations, which was addressed by ASIC Chair Joe Longo at the Australian Financial Review Cyber Summit last month. This proactive approach is aimed at safeguarding not only corporate data but also shareholder value and public trust.
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October 17, 2023
Corporate Risk
Financial Institutions
Technology

Cyber ransom attacks: not paying a ransom won't solve cybercrime

This month marks the 20th anniversary of National Cyber Security Awareness Month and with cyber risk reaching unprecedented levels after a recent surge in high-profile attacks, particularly on Australian businesses, Ben Robinson, Placement Manager - Professional and Executive Risks, gives us some insights on why not paying a ransom won't solve this issue. With hackers running their operations like sophisticated businesses and constantly adapting their strategies for better returns, banning payments might harm Australian businesses and citizens more than it impacts the cyber-criminal groups, leading them to explore alternative tactics for financial gain.
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October 11, 2023
Corporate Risk
Agriculture
Biotech & Life Science
Construction
Financial Institutions

Claiming Success: Why Your Insurance Broker is the Key to Notifying Insurers About Potential Claims

When it comes to insurance, brokers are in a unique position. We’re neither the client nor the insurer, we’re privy to the unique notifications from clients when there is a situation that may give rise to a claim, and the reactions from insurers to those notifications. This is a complex and evolving area, and in the post-pandemic era, we’ve observed that insurers are scrutinising all aspects of the claims process. Following a loss, the claims process can be stressful, complex, and long. This article outlines the paradigm shift in insurer’s perception of an acceptable notification of circumstances which may give rise to a claim, from a broker’s perspective.
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October 4, 2023
Pharmacy

Protecting Your Pharmacy’s Reputation & Finances: A Guide for Owners

Pharmacies play a crucial role in providing accessible healthcare services to the public. As part of this essential service, pharmacists must maintain the highest standards of professionalism, ethics, and regulatory compliance to mitigate the risk of claims. Additionally, robust insurance coverage plays an important role in protecting pharmacies from claims related to misconduct, errors, or accidents within the premises. This article explores some of the most common types of claims, how those risks can be managed, and the insurance solutions that can limit the impact of claims.
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Tue 25 Jan, 2022

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Honan Insurance Group Pty Ltd (Australian Financial Services Licence no. 246749, ABN67 005 372 396) is an insurance broker acting as agent for insureds and intending insureds. Honan is not an insurer.  The information on this website has been prepared without taking into account your objectives, financial situation or needs.  Any advice provided on this website is general advice only.  Before making a decision to purchase an insurance policy, please read the relevant Product Disclosure Statement to make sure the policy is right for you.  Insurance cover is subject to policy terms and conditions including policy limits and exclusions. 

From time to time, Honan may act under a binder arrangement with an insurer.  When this happens, Honan is authorised by the insurer to issue certain insurance policies on the insurer’s behalf.  When Honan does this it acts as the agent for the insurer and not for any insured person.  We will let you know when we are acting under a binder.  You can view the Product Disclosure Statements for the insurance policies we issue under a binder arrangement here.  A copy of the Target Market Determination for each policy is also available on this website.

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Honan Insurance Group Pty Ltd is now fully owned by Marsh Pty Ltd. To find out more, speak to your broker or read the announcement

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