"The Professional Broker`s Choice"
Terms of Trade
Brokerage
| Accident |
15.00% |
|
Commercial Property Insurance
Construction and Engineering |
15.00%
15.00% |
| Fine Art |
10.00% |
| General Property Insurance |
15.00% |
| Hotel Insurance |
15.00% |
| Industrial Special Risks Insurance |
15.00% |
| Jewellers Block Insurance |
10.00% |
| Professional Liabilities |
12.50% |
| Public/Products Liability Insurance |
15.00% |
| Nursing Home Combined Liabilities Insurance |
15.00% |
New Business Placements
When an instruction to bind cover on a risk is received, the following protocol applies:
- Australis will confirm cover in writing on the day the instruction is received;
-
Your premium calculation sheet or closing is required by Australis within 14 days from the inception of the cover to confirm total premiums due;
-
A completed Proposal Form together with your closing slip is required by Australis within 30 days from risk inception;
-
Premium payment is required within 30 days of risk inception.
Renewals
- In the majority of cases, we will contact you six weeks prior to renewal to update risk acceptance and rating data.
-
A renewal invitation is faxed to your office;
-
Subject to Section 58 of The Insurance Contracts Act, cover ceases at 4.00 pm on the expiry date shown on the Renewal Invitation;
-
Your renewal instructions must be received on or prior to this date for cover to continue (no automatic hold cover provisions apply);
-
Your renewal closing and premium payment must be received within 30 days from renewal date.
Credit terms
Premium payment is payable within 30 days of risk inception. We recognise the difficulty in sometimes meeting these credit terms if premium funding applies and in such cases, we will relax our terms subject to you advising us in advance of the 30 days that funding applies in that instance.
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