InsureRight recently reviewed one of Australia’ largest, privately owned providers of residential aged care. With 54 facilities, over 6,000 residents, operating for over 20 years and with a recent IPO, it looked like they were making savings whenever they could.

However, with our select panel of aged care insurance experts, we conducted a no-obligation review of their insurance policies. After the review, they advised us that we had, ‘delivered a number of noteworthy policy enhancements and improvements in cover combined with premium cost savings exceeding $200,000 per annum.

These are just some of the wording enhancements by different types of insurance policies that we were able to help General liability, 21 policies. Professional indemnity, 18 policies. Directors and Officers liability, (which is more important now than ever), 13 cases, Industrial special risk, 29 cases and motor vehicles 16 cases.

Aviation, 22%, Construction 24%. Retail 31%, Not for Profit 25%, Food and beverage 19%, Information & Technology 27%, Manufacturing, 19%, Transport and Logistics 36%, Finance services 32%, Human resources, 21%, Education 17%,

Case study, Local councils save $12.8 million

Risk is unavoidable in running a council. Insurance is a part of that risk management, but if not done correctly, it can waste valuable ratepayer dollars each year. We independently audit your insurance so you are able to report to ratepayers that you have done all you can to minimise cost and risk.

We have worked with Australia’s oldest and largest government groups, to reduce costs by more than 35% for individual Councils; this equals total monetary savings in excess of 12.8 million dollars. Many did not even have to change insurers or sponsored schemes.