Marine Insurance for Australian Companies
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Marine Insurance is critical for companies operating across all cities in Australia, including Perth, Sydney, Melbourne, Brisbane, and Canberra. BAU Risk provides comprehensive protection against a variety of risks. This type of insurance covers property damage, liability claims, and business interruptions, ensuring smooth and efficient operations. By securing Marine Insurance, businesses can focus on their core activities without worrying about potential unknown setbacks.
Expert Coverage with Real Benefits
According to the Australian Marine Insurance Association, the major causes of marine insurance claims in Australia include cargo damage (accounting for approximately 40% of claims), machinery damage (20%), and collision incidents (15%), highlighting the critical need for comprehensive coverage in these areas.
In addition, according to the Australian Maritime Safety Authority, incidents at sea, including vessel collisions and cargo losses, resulted in financial losses exceeding $500 million in 2021, emphasizing the critical need for robust marine insurance coverage.
Marine Insurance covers several critical areas, including property insurance, which protects assets and equipment from damage or loss; public liability insurance, which covers third-party injury or property damage claims; and business interruption insurance, which provides financial support during periods when operations are disrupted. Additionally, professional indemnity insurance offers protection against claims of negligence or errors in professional services. For businesses with staff, workers’ compensation insurance is essential to cover employee injuries sustained on the job. Management liability insurance safeguards the company and its executives from potential legal and financial repercussions.
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Core Areas of Coverage
Property
Insurance:
Protects assets and equipment from damage or loss.
Public Liability
Insurance:
Covers third-party injury or property damage claims.
Business Interruption
Insurance:
Provides financial support during periods when operations are disrupted.
Professional Indemnity
Insurance:
Provides protection against claims of negligence or errors in professional services.
Workers' Compensation
Insurance:
Covers medical expenses and lost wages for employees injured on the job.
Management Liability
Insurance:
Offers protection against claims related to management decisions and actions.
Key Coverage Points
- Protection for assets and equipment
- Coverage for third-party injury or property damage claims
- Financial support during business interruptions
- Protection against claims for professional negligence
- Workers' compensation for employee injuries
- Protection against claims related to employment disputes
- Protection against management liability claims
- Ensures compliance with industry standards and requirements
- Peace of mind for business operators
By investing in Marine Insurance, companies can ensure they are protected against various risks, allowing them to operate smoothly and efficiently.
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We Provide National Coverage
New South Wales (NSW)
- Sydney
- Newcastle
- Central Coast
- Wollongong
- Maitland
Victoria
(VIC)
- Melbourne
- Geelong
- Ballarat
- Bendigo
- Shepparton
Queensland
(QLD)
- Brisbane
- Gold Coast
- Sunshine Coast
- Townsville
- Cairns
Western Australia
(WA)
- Perth
- Bunbury
- Mandurah
- Rockingham
- Kalgoorlie
South Australia
(SA)
- Adelaide
- Mount Gambier
- Whyalla
- Gawler
- Port Pirie
Tasmania
(TAS)
- Hobart
- Launceston
- Devonport
- Burnie
- Ulverstone
Australian Capital Territory (ACT)
- Canberra
- Gungahlin
- Tuggeranong
- Belconnen
- Woden Valley
Northern Territory
(NT)
- Darwin
- Palmerston
- Alice Springs
- Katherine
- Nhulunbuy