The underwriting information required depends on the business and the regulatory risks involved.

What basic business information is required? #

This can include:

• Business activities.
• Annual turnover.
• Number of employees.
• Wage roll.
• Locations.
• Years operating.
• Required policy limit.

Why are the business activities important? #

Regulatory exposure varies substantially between industries.

An insurer may assess matters such as:

• Construction activities.
• Manufacturing.
• Hazardous materials.
• Environmental exposures.
• Transport operations.
• Labour hire.
• Food production.
• Other regulated activities.

What claims information may be required? #

Provide details of previous:

• Regulatory investigations.
• Prosecutions.
• Fines or penalties.
• Workplace incidents.
• Environmental incidents.
• Improvement or prohibition notices.
• Statutory Liability claims.

What existing insurance should be provided? #

Insurers may ask about existing:

• Management Liability.
• Public Liability.
• Professional Indemnity.
• Environmental Liability.
• Directors and Officers Insurance.

This helps identify how the proposed Statutory Liability policy fits with the broader insurance program.

Why might insurers ask about risk management? #

The insurer may consider the business’s:

• Compliance systems.
• Workplace safety procedures.
• Environmental controls.
• Training.
• Incident reporting.
• Internal audits.