As kids head back to school, many parents will face the financial fallout from their child having an accident.
Financial peace-of-mind for childhood mishaps
Kids will be kids. They are inquisitive, often fearless and enthusiastic to take part in everything on offer. Unfortunately, many children will suffer an injury as a result of everyday activities.
In WA alone, 51 children wind up at the Perth Children’s Hospital each day as a result of injury. Falling over and running into things are the top reasons why kids are admitted to hospital, with almost a quarter of all presentations related to sporting activities. Nearly all injuries (98%) are the result of accidents, according to the Kidsafe WA Childhood Injury Bulletin Annual Report: 2018-19.
If a child is injured at school, at home or at play, parents can be left to bear the costs of medical treatment, disability and ongoing care. Those costs can quickly add up, often creating a heavy financial and emotional burden for the family. For just $29 a year, you can ensure those financial risks are covered. StudentCover provides 24/7 cover for children from kindergarten to Year 12 (ages 3 to 21) regardless of ‘fault’ or ‘negligence’ and includes almost all sports and activities – at school, home or anywhere.
Most travellers record their journeys with a few selfies, but few realise they could be jeopardising their travel insurance.
Me, my self(ie) and I(nsurance)
According to a survey by an Australian travel insurance provider, 75% of travellers take selfies while on holiday and then share them with the world via social media (55% post the selfie on Facebook, 21% on Instagram and 13% on Snapchat).
But how many people realise that those selfies could result in a travel insurance claim being declined?
Taking selfies on holiday can be risky, the survey found 18% lost an important belonging like a wallet or passport while taking a snap, 18% broke their phone and 17% were caught doing something they shouldn’t. Another insurer reported that 13% of people had been injured while posing for selfies (that number jumps to 18% for Millennials), while stats from the Journal of Family Medicine and Primary Care reported 259 tourists died as a result of selfie-related mishaps between 2011 and 2017 (drowning was the leading cause, followed by falls, fires and vehicle accidents).
Although some intrepid adventurers think nothing of posing precariously (at heights, with weapons, whilst in charge of a vehicle, close to dangerous animals, in prohibited areas) to get the most ‘liked’ shot, many travellers don’t realise that taking part in risky activities, being reckless or being intoxicated could void their policy if they get injured.
If you have any questions about your Travel Insurance cover, inclusions, exclusions and obligations, your EBM Account Manager can talk you through your policy.
Blowing the Whistle
New “whistleblower” protection laws have been in effect for six months, do you know your obligations?
What you need to know about protecting those that speak out
People who have the courage to call out misconduct and harm to others play a vital role in stamping out white-collar crime and the Corporations Act 2001 provides for their protection.
The Treasury Laws Amendment (Enhancing Whistleblower Protections) Act was passed on 1 July 2019, to encourage ethical whistleblowing, increase protections for individuals and hold employers accountable for protecting whistleblowers.
New regulations came into effect on 1 January 2020, requiring all public companies, large proprietary companies (characterised by having any two of the following: $50M+ in revenue; $25M+ in gross assets; or 100+ employees), and corporate trustees of APRA-regulated superannuation entities to have a whistleblower policy.
The policy needs to include information about the legal protections available to whistleblowers, and how the company will investigate disclosures and protect whistleblowers from harm. Failing to protect the identity of a whistleblower carries a penalty of up to $1.05M for individuals and $10.5M or 10% of annual turnover (up to $525M) for companies.
Individuals and companies affected by the whistleblower protection laws should:
- Assess current whistleblower procedures.
- Implement a whistleblower policy that meets all requirements of the Act.
- Train all employees.
- Talk to their EBM Account Manager about Statutory Liability insurance.
EBM Executive Account Director chairs industry committee.
EBM continues to take industry lead
Following a long-standing tradition of EBM people taking leadership roles in the industry, Executive Account Director Clint Jeuring has been appointed Chair of the National Insurance Brokers’ Association (NIBA) WA Divisional Committee.
Clint said the Divisional Committee was enthusiastic about putting into practice its three guiding principles – representation, community and professionalism – and was already strengthening relationships with key industry players including WorkCover WA and experiencing strong support for industry events.
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