QUICK ANSWER
What should an Australian business prepare for commercial insurance?
A useful proposal usually explains what the business does, annual turnover, payroll and workforce, premises and assets, major contracts, products or services, vehicles, territories, licences or registrations where relevant, previous claims and incidents, and the risk controls already in place. The exact information required depends on the occupation and the insurance being considered.
BUSINESS ACTIVITY
Describe what the business actually does
Occupation is the starting point, not the complete risk description. Explain the services, products, work methods, customer types, subcontracted activities and any specialist or higher-risk work. Two businesses with the same occupation can require very different information.
SCALE & PEOPLE
Turnover, payroll and workforce provide context
Prepare annual and projected turnover, payroll where relevant, employee numbers, labour-hire or subcontractor use, and any significant seasonal changes. Australian workers’ compensation arrangements are jurisdiction-specific, so the relevant state or territory should also be clear where workforce exposures are involved.
PROPERTY, VEHICLES & CONTRACTS
Show where value and responsibility sit
Useful information can include premises construction and occupancy, stock and machinery values, vehicles and operating radius, maximum contract values, principal customers, contractual responsibilities, imports or exports, and any dependence on key suppliers, systems or locations.
CLAIMS & CONTROLS
Past events and current controls both matter
Prepare details of previous claims, incidents, complaints or circumstances that may be relevant. Risk controls may include maintenance, training, cyber security, quality procedures, contract review, incident reporting, fire protection, business continuity, supervision or other controls appropriate to the occupation.
DIBNI’S ROLE
Structure the information before the introduction
DIBNI acts as an introducer. It does not use this guide to recommend an insurer or policy. The receiving insurance professional is responsible for explaining their regulatory status, the services they provide and any advice, recommendation or placement activity.