Insurances held by SWA - we have you covered
Safety Watch Australia hold accident insurance under Work Cover Queensland. [add link here to COC].
WorkCover Queensland is a government owned statutory body, providing workers' compensation insurance in Queensland since 1997. We are self-funded and operate as an independent, commercial enterprise, with income derived from premiums paid by employers and returns on our invested funds. As a not-for-profit entity, excess funds are returned to employers and workers through premium rate reductions, improved benefits and better services.
We are a customer focused insurer and aim for insurance excellence. Despite it being mandatory for all Queensland employers to hold a WorkCover accident insurance policy (unless employers hold a self-insurance licence), WorkCover strives to be competitive with commercial insurers. Our approach is simple: build lasting, valued relationships with our customers and stakeholders. This means understanding and meeting customers' needs and evolving our business processes to suit these needs.
Public and Products Liability
Safety Watch Australia hold Public and Products Liability Insurances for Smoke Alarm and Safety Switch compliance under Sterling Insurance and underwritten by Lloyd's of London. [add link here to COC].
Lloyd’s is licensed to write insurance and reinsurance business under the Australian Insurance Act 1973. Lloyd’s Gross Written Premiums (GWP) over the last 10 years have grown from $260m USD in 2001 to $2bn in 2013, currently making Lloyd’s the fifth largest non-life Insurer in Australia. SWA hold Public Liability $10,000,000 in respect of any one Occurrence or series of Occurrences arising out of one event during the Period of Insurance. Products Liability $10,000,000 in respect of any one Occurrence or series of Occurrences arising out of one event and in the aggregate during the Period of Insurance.
Safety Watch Australia hold Professional Indemnity Insurance for Smoke Alarm and Safety Switch compliance under CGU Professional Risks Insurance. [add link here to COC].
CGU’s Professional Indemnity policy provides SWA with comprehensive protection against claims for financial loss, bodily/personal injury or property damage arising from an act, error or omission in the performance of professional services. Professional Indemnity Insurance protects SWA from bearing the full cost of these claims and disputes, and from the time and resources they consume. The threat of claims and litigation is very real and can potentially bankrupt businesses, small or large. It may seem like a distant possibility, but legal action often arises from an unforeseen event to completely derail businesses. Professional Indemnity has a limit of liability of $2,000,000 and an annual aggregate limit of liability of $2,000,000 including costs and expenses.
Pool barrier Indemnity
Safety Watch Australia hold Professional Indemnity Insurance for Pool Barrier compliance under ProRisk Civil Professional Indemnity Insurance and underwritten by Lloyd's of London. [add link here to COC].
ProRisk is an underwriting agency that moves quickly to develop client solutions that will help you stay ahead of the pack. ProRisk was originally formed to specialise in the provision of professional indemnity insurance. It has now expanded to include medical malpractice, public and products liability, personal accident, management liability and marine insurance. Professional Indemnity Insurance for Pool Barrier Compliance is underwritten by Lloyd's of London and provides Insurance limit of liability of $1,000,000 any one Claim and $2,000,000 in the aggregate during the Insurance Period.