Policy Management
21 Docs
Do I need to update my insurance if turnover, payroll or employee numbers change?
Last Updated: October 15, 2026Significant changes in turnover, payroll or employee numbers can affect insurance premiums, limits and underwriting and should be reviewed during the policy period or at renewal.
What happens if my business starts providing a new service or activity?
Last Updated: October 15, 2026New business activities should be disclosed because an insurer may not automatically cover services or work that falls outside the activities originally declared.
What should I do with my insurance if I move business premises?
Last Updated: October 15, 2026Moving business premises can affect property, liability and business interruption exposures and should be notified before the move where possible.
What happens to my insurance if I acquire another business or company?
Last Updated: October 15, 2026Acquiring another business can change the insured entities, activities, assets and liabilities and should be reviewed before or as soon as the acquisition occurs.
What changes to my business should I tell Webber Insurance about?
Last Updated: October 15, 2026Material changes to business activities, turnover, locations, assets, employees and other exposures should be discussed with Webber Insurance during the policy period.
What happens if I fall behind on my Premium Funding payments?
Last Updated: October 15, 2026If you fall behind on Premium Funding repayments, fees, default action and ultimately policy cancellation can occur depending on the funding agreement. Contact Webber Insurance early if payment difficulties arise.
I am selling my business. What happens to my insurance?
Last Updated: October 15, 2026Selling a business can affect several insurance policies. The seller's insurance does not automatically become the buyer's insurance, and claims-made cover may require run-off consideration.
I am retiring. What should I do with my insurance?
Last Updated: October 15, 2026Retiring or ceasing to trade does not necessarily mean every insurance policy should be cancelled immediately. Claims-made policies and remaining business exposures require review.
What happens if I cancel insurance that is being Premium Funded?
Last Updated: October 15, 2026Cancelling a premium-funded insurance policy does not automatically cancel the funding balance. Refunds, outstanding amounts and future repayments depend on the policy and funding agreement.
What should I check before using Premium Funding?
Last Updated: October 15, 2026Before using Premium Funding, review the repayment schedule, interest and fees, payment consequences, cancellation treatment and Certificate of Currency timing.
What is Premium Funding?
Last Updated: October 15, 2026Premium Funding is a separate finance arrangement that allows insurance premiums to be paid by instalments rather than entirely upfront.
Can I group my insurance policies together for a discount?
Last Updated: October 15, 2026Several covers can sometimes be placed with one insurer or combined under one policy, but this does not automatically create a multi-policy discount.
What happens to my insurance if I merge my business with another business?
Last Updated: October 15, 2026A business merger can materially affect insurance arrangements. Existing policies may need to be amended or replaced depending on the legal entities, transaction structure and insurer requirements.
How do I cancel my insurance policy?
Last Updated: October 15, 2026To cancel an insurance policy arranged through Webber Insurance, provide the instruction in writing. Refunds, effective dates, claims-made cover and Premium Funding can all affect the process.
How do I change my current insurance cover?
Last Updated: October 15, 2026If your business activities, assets or insurance requirements change, contact Webber Insurance. Some changes require insurer approval before the amended exposure is covered.
How do I update my business name or legal entity on my insurance?
Last Updated: October 15, 2026A trading-name change may be a simple policy amendment, while changing legal entity can require insurer approval and additional underwriting information.
What is an endorsement?
Last Updated: October 15, 2026An endorsement changes, adds to or modifies the terms of an insurance policy and should be read together with the policy schedule and wording.
What is a Target Market Determination?
Last Updated: October 15, 2026A Target Market Determination describes the class of consumers a relevant financial product is designed for and forms part of Australia's Design and Distribution Obligations.
What is a policy wording?
Last Updated: October 15, 2026A policy wording sets out the detailed terms, conditions, definitions and exclusions applying to an insurance policy and should be read with the schedule and endorsements.
What is a Certificate of Currency?
Last Updated: October 15, 2026A Certificate of Currency provides evidence that an insurance policy is in place at the date it is issued and usually shows key policy details such as the insured, cover type, period and limits.
What is a policy schedule?
Last Updated: October 15, 2026A policy schedule shows how an insurance policy has been arranged for the insured and should be read with the policy wording, endorsements and any applicable PDS.