Could your business survive a six figure statutory fine or penalty?
Wednesday, June 16, 2010
In line with Adroit’s ongoing commitment to keep our customers informed on the constant changes and exposures within the insurance industry landscape, we wish to alert you to the latest developments in statutory liability exposures.
Recent times have seen a significant increase in OH&S fines and penalties, both in size and volume, being imposed by a very pro-active and aggressive Victorian Workcover Authority and Worksafe Victoria. These fines have been across all industries but very prevalent in the construction and manufacturing sectors. The good news is that cover to protect you against these fines and penalties is now more readily available in both business package and management liability policies and stand alone policies as well.
If exposures concern you and pose a threat to the ongoing viability of your business, please contact your Adroit insurance broker to discuss the options available to you to ensure that you are adequately covered.
Refer attached case study.
Case Study.pdf