Tony Insurance

Confused about ?
Insurance is simple when you have an expert on your team
Trying to work out exactly what type and how much insurance your business needs can be complex, time‑consuming and overwhelming. And the wrong cover could be devastating to your business if things go wrong.

With so many options on the market, and with the emerging risks such as cyber, and new products coming available all the time, it can be hard to be confident you’re making the right choice. That’s where we can help.

“It's very important for all property developers to do due diligence on the location, property, council requirements and contractors/builders they will be relying on to ensure a successful .” - Jo Chivers, CEO, Property Bloom, 2015
What are the key risks for property developers?
Property development can be an exciting and financially rewarding industry – but the risks can be significant.
As a , you need to be across a range of council regulations and manage complex finance arrangements. You may also have to deal with the rising costs of materials and labour, missed deadlines and budget blowouts. Then there’s the chance your builders could become insolvent, weather events could damage your project, or equipment and materials could be stolen or lost. Finally, like all businesses, property developers need to be vigilant in protecting themselves and clients from the growing threat of cybercrime.

Who should consider insurance?
All property developers – from those developing a house to those in charge of major retail and factory developments – should take out some kind of insurance.

“If you own a business, you can be liable for damages or injuries to another person or property… consider [professional indemnity insurance] for your business if the likelihood of legal action is high.” - Australian Government (Business Website)
What is insurance?
Anyone can make a mistake – but if your business is found liable for negligence, the costs can be financially devastating. Not only can it lead to an expensive lawsuit, but your business’ hard-earned reputation may be damaged as a result.
That’s why professional indemnity insurance matters – for help protecting your assets and brand if your advice causes a client to take legal action against you.

Who should consider it?
Professional indemnity insurance is mandatory in some industries, such as medicine, accounting, law and financial advisers – with the requirements differing from state to state.
But even in cases where it’s not required by law, it’s recommended for anyone who is providing professional services or advice in exchange for a fee – like, graphic designers, IT consultants and more. Regardless of your legal obligation, it’s often a customer requirement that you have this cover in place.