Policy Management
18 Docs
What happens if I fall behind on my Premium Funding payments?
Last Updated: September 16, 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: September 16, 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: September 16, 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: September 16, 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: September 21, 2026Before using Premium Funding, review the repayment schedule, interest and fees, payment consequences, cancellation treatment and Certificate of Currency timing.
Why do monthly insurance payments usually cost more?
Last Updated: September 16, 2026Monthly commercial insurance payments are often arranged through Premium Funding, which is a separate finance agreement and can include interest and fees.
What is Premium Funding?
Last Updated: September 19, 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: September 16, 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: September 16, 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: September 16, 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: September 16, 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: September 16, 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 Interested Party on an insurance policy?
Last Updated: September 16, 2026An Interested Party is a person or organisation whose financial or other recognised interest in insured property is noted on a policy. Their rights depend on the policy wording and insurer notation.
What is an endorsement?
Last Updated: September 16, 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: September 16, 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: September 16, 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: September 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: September 16, 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.