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Insurance News
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Ocean Underwriting's New Complex Liability Insurance for High-Risk Occupations Ocean Underwriting's New Complex Liability Insurance for High-Risk Occupations
15 May 2026: Paige Estritori

Ocean Underwriting has recently unveiled a specialised liability insurance product designed to cater to complex or hard-to-place risks associated with high-hazard occupations. This initiative aims to provide tailored solutions for businesses facing unique exposures that standard insurance policies may not adequately cover. - read more
Steadfast Group's Strategic Acquisition in Food Industry Insurance Steadfast Group's Strategic Acquisition in Food Industry Insurance
15 May 2026: Paige Estritori

In March 2026, Steadfast Group, a prominent insurance brokerage network, announced its acquisition of a controlling interest in Victual Risk & Insurance and its sister company, @ Risk Underwriting. This strategic move aims to bolster Steadfast's capabilities in providing specialised insurance solutions tailored for the food and beverage industry. - read more
Sompo International's Strategic Expansion in the Australian Insurance Market Sompo International's Strategic Expansion in the Australian Insurance Market
15 May 2026: Paige Estritori

In April 2026, Sompo International, a subsidiary of Japan's Sompo Holdings, announced a significant expansion of its Australian operations by recruiting a team of specialists from Everest Group's local arm. This strategic move aims to enhance Sompo's presence in the Australian insurance market, particularly in specialty products. - read more
APRA Enforces Additional Capital Requirement on Sovereign Insurance Australia APRA Enforces Additional Capital Requirement on Sovereign Insurance Australia
07 May 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has recently imposed an additional $2 million capital requirement on Sovereign Insurance Australia Pty Ltd (SIA). This decision stems from identified weaknesses in SIA's risk management framework and operational risk management practices. - read more
R&CA Highlights Rising Costs as Primary Factor in Restaurant Closures R&CA Highlights Rising Costs as Primary Factor in Restaurant Closures
07 May 2026: Paige Estritori

Recent data reveals that cafés, restaurants, and takeaway businesses in Australia are experiencing the highest failure rates across all industries, with a 10.4% closure rate over the past year. This alarming trend has prompted Restaurant & Catering Australia (R&CA) to investigate the underlying causes. - read more
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Restaurant Insurance Articles

How Your Claims History Affects Insurance Premiums for Restaurants
How Your Claims History Affects Insurance Premiums for Restaurants
Running a restaurant in Australia comes with its own set of challenges, particularly when it comes to navigating legal risks. For restaurant owners, understanding these risks is crucial in safeguarding their businesses from potential financial hardships. - read more
The Legal Risks of Running a Restaurant: How Insurance Can Safeguard Your Business
The Legal Risks of Running a Restaurant: How Insurance Can Safeguard Your Business
Running a restaurant in Australia is exciting and full of potential, but it's not without its legal challenges. From compliance with food safety standards to managing employee relations, restaurant owners must navigate a complex web of regulations and potential legal issues. Issues such as slip and fall accidents, supplier disputes, and licensing can all pose significant risks. - read more
Navigating the Insurance Landscape: Financial Strategies for Restaurant Owners
Navigating the Insurance Landscape: Financial Strategies for Restaurant Owners
In the bustling world of hospitality, restaurant owners face a unique set of challenges that can impact their financial stability. From unexpected kitchen mishaps to customer accidents, understanding the unique risks in the hospitality industry is crucial. These risks can lead to significant financial burdens if not properly managed. - read more
How to Choose the Right Insurance Coverage for Your Restaurant Business
How to Choose the Right Insurance Coverage for Your Restaurant Business
Running a restaurant in Australia is both exciting and challenging. From crafting delightful dishes to ensuring an excellent dining experience, restaurant owners juggle multiple responsibilities daily. Amidst all these, securing adequate insurance coverage often takes a backseat, though it's crucial for the health of the business. - read more
The Role of Staff Training in Reducing Liability Risks in Your Restaurant
The Role of Staff Training in Reducing Liability Risks in Your Restaurant
Running a restaurant involves navigating a myriad of potential liabilities. From food safety issues to customer injuries on premises, the risks are numerous. In recent years, liability concerns have become even more pressing in the restaurant industry, as businesses face strict regulations and the potential for costly litigation. - read more

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A formal request made by the policyholder to the insurance company for payment of a loss covered by the insurance policy.

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