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1. Business Insurance Policies

2. Business Insurance Policies
Business insurance policies provide businesses with protection and peace of
mind against a range of risks. Insured events can include:
• Business interruption (consequential loss)
• Public and products (broadform) liability
• Theft/burglary, Money coverage, Glass breakage
• Employee dishonesty
• Machinery breakdown
• Electronic equipment breakdown
• Goods in transit
• General property
• Tax audit

3. Business Insurance Quote
To obtain a quotation, enquire online at www.it.optimuminsurance.com.au.
In most circumstances we are able to provide an quote over the phone. If
you would like to discuss your needs further, contact us on 1300 739 861.
Policy coverage is always subject to the terms, conditions and exclusions of
the insurance contract and policy wording provided by the insurer.
Each insurance company has its own policy wording. This means that
coverage can vary considerably from one insurer to another. It is vital that
you compare each policy based on the appropriateness of cover for your
individual or business needs.
As Insurance Advisers, it is our role to understand the terms and conditions,
so contact us now for advice and a quote.

4. Fire and Perils
Covers your business for damage to insured property, that includes
building, contents, thefts and stock caused by certain defined events:
• Storm
• Malicious damage
• Explosion
• Earthquake
• Wind
• Leakage of liquid
• Flood (depends on insurance product)
Additional extensions of cover are also included:
• Removal of Debris
• Accidental Damage
• Claim Preparation Costs
• Rewriting of Records

5. Business Interruption
Provides cover for consequential loss of profits or revenue resulting from the
interruption or interference with your business caused by damage covered
under the Fire and Perils sections. There are several different options of cover
available. These include:
Business Income Protection:
• Weekly income
• Additional expenses (e.g. - relocation costs, expediting expenses)
Consequential Loss of Profits:
• Gross profit
• Loss of rent receivable
• Payroll

6. Business Interruption
Claim Preparation Expenses:
Reasonable professional fees and other expenses necessarily incurred as a result
of the property claim (as agreed by the insurer and subject to policy limit).
Additional Increased Costs of Working:
This option, if selected, provides cover for additional expenditure not otherwise
covered under any other section following a loss. It provides cover for
reasonable costs incurred to minimise the loss or damage caused to the
business. An example of such is cover for additional payroll and advertising
expenses required to maintain the business customer base (as agreed by the
insurer and subject to policy limit).
Outstanding Accounts Receivable:
Cover for the amount owed to the business that it is unable to collect due to
damage to records.

7. Public & Products (Broadform) Liability
Provides insurance cover in respect of insured's liability or loss or damage
caused negligently to third parties, who are not the insured, as a result of an
occurrence in connection with the insured's business.
It indemnifies the insured business against legal liability to pay compensation
in respect of personal injury or property damage claims arising in respect of
the product and/or service sold or supplied by the insured, however it does
not cover product warranty and is always subject to terms, conditions and
exclusions.
In addition, these policies also provide cover for defence costs even if the
action against you is false or fraudulent, provided that an excluded
circumstance does not apply.

8. Public & Products (Broadform) Liability
Personal Injury cover may include:
• Death, bodily injury, sickness, disease, disability, shock, fright, mental
anguish and mental injury;
• False arrest, wrongful detention or imprisonment, and malicious
prosecution;
• Wrongful eviction;
• Assault or battery; and/or
• Libel, slander, defamation of character or invasion of the right of privacy.
Property Damage cover may include:
• Physical damage to tangible property; and/or
• The loss of use of tangible property which has not been damaged but
cannot be used due to damage to other tangible property.

9. Theft/Burglary
Covers insured property (business contents, stock and customers goods as
declared) contained on your business premises following forced and violent
entry. Additional cover includes damage to buildings and fixtures,
replacement of locks, protection of premises, and temporary removal of your
property insured to another location subject to the policy limitation.

10. Money
Covers loss of, or damage to, money contained in the building during or
outside business hours, while in a locked safe or strongroom, in transit, or in
your personal custody while contained in your private residence.
Cover options available:
• Transit to or from your business premises;
• Money while contained in the night safe of any bank; and/or
• Money contained in the building:
(a) during business hours;
(b) Outside business hours; and/or
(c) Only while contained in a securely locked safe or securely locked
strongroom.

11. Glass Breakage
Cover provides protection against accidental breakage of fixed glass
located at the business premises. Property covered includes items such as
glass/perspex - windows, doors, mirrors and skylights for:
• Fixed external glass; and/or
• Fixed internal glass.
In most cases the policies also provide cover for wash basins, lavatory pans
and cisterns.

12. Employee Dishonesty
Covers the loss of money or goods (i.e stock) due to the fraudulent or
dishonest conduct of an employee, for their own gain or the financial
benefit of any other person or business.
A few examples of events which are covered include:
• An employee stealing money to fund gambling activities; and/or
• An employee organising with another person to over-pay invoices or
pay false invoices.

13. General Property
Covers items such as laptop computers, tools of trade whether at or away
from the premises.
There are principally two covers available under this section:
• Accidental damage covers any sudden, unexpected or occurrence not
otherwise excluded; and
• Restricted cover to collision, overturning of the conveying vehicle and
flood. Fire cover is available as an optional cover.

14. Machinery Breakdown
Covers for damage to electrical, electronic and mechanical machinery insured
due to breakdown located at the businesses premises.
Cover provides compensation to your business for:
• The costs of restoring or replacing machinery after Breakdown; and/or
• The cost of hiring temporary machinery.
Additional features and benefits: Cover is available under this section for
deterioration/loss of stock (up to the nominated sum insured) following a
breakdown.

15. Goods in Transit
Covers your business for damage to property insured whilst in transit within
Australia caused by certain defined events. It provides cover for loss of, or
damage to, goods insured.
There are several cover options available:
• Fire, Collision and Overturning covers overturning of the conveying
vehicle, resulting in your insured item(s) being destroyed.
• Fire, Collision and Overturning and Theft covers the conveying vehicle
being broken into and your insured item(s) being stolen.
• All Risks not excluded covers the insured item(s) being dropped by the
carrier resulting in your item(s) being destroyed (covers all risks of loss or
damage not otherwise excluded).

16. Tax Audit
Provides cover for professional fees in connection with an audit by a
government body. Cover can be extended to include audit cover of directors
of the insured's business.

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18. Contact Us
Phone +61 1300 739 861
Fax +61 1300 732 225
Hours 9.00am to 5.00pm (EST)
Monday – Friday
Email service@optimuminsurance.com.au
Website www.it.optimuminsurance.com.au
Presentation Disclaimer –– “This material contains general information only and may not suit your
particular circumstances. To decide if a policy is right for you please carefully read the relevant Product
Disclosure Statement (PDS) and/or Policy wording. A copy of the PDS or policy wording is available by
contacting our office on 1300 739 861;”
Disclosure Statement – “Optimum Insurance Services Pty Ltd is a Corporate Authorised
Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services
Licence No 240549, ABN 15 003 886 687.”