Market Misconceptions

There are several misconceptions in the insurance market that can impact businesses risk management strategies. One common misconception is that general liability insurance covers cyber risks. However, cyber insurance is specifically designed to address the unique risks associated with data breaches and cyber-attacks. Another misconception is that management liability insurance is only necessary for large corporations. In reality, businesses of all sizes can benefit from this coverage, as legal actions can be brought against directors and officers in any organisation.

Disclaimer:

The information and advice provided by Broad Risk Insurance Brokers is general in nature and does not take into account your individual objectives, financial situation, or needs. You should consider whether the advice is appropriate for you and read the relevant Product Disclosure Statement (PDS), policy wording, and Target Market Determination (TMD) before making any decision about purchasing, renewing, or cancelling an insurance policy. If you require personalised advice that considers your specific circumstances, we recommend speaking with one of our qualified insurance brokers. For more information, please contact us at warren@broadrisk.com.au or visit our website at https://www.broadrisk.com.au