Not sure about a term you have seen on this website this glossary may help you!

For complete details always refer back to your Product Disclosure Statement.

Public Liability Insurance:

Public Liability Insurance is the financial benefit that will be paid to the insured or on behalf of the insured for all sums that become legally liable to be paid by way of compensation in respect of personal injury or property damage that occur during the period of insurance and which are caused by an occurrence within the business of the insured.

Business Insurance:

Business Insurance protects businesses from losses due to events that may occur during the normal course of conducting business including property damage, legal liability and employee-related risks.

Income Protection Insurance:

Income Protection Insurance products pay a monthly benefit if the insured becomes disabled and is unable to work due to sickness or injury.

Commercial Vehicle Insurance:

Commercial Vehicle Insurance covers the cost of damage to your business vehicle including your business car, business van, business truck, business ute and for damage that may be caused to someone else's car or property.  Usually the same type of cover as comprehensive car insurance but the policy is marked for ‘business use’.

Third Party Motor Vehicle Insurance:

Third Party Car Insurance covers the cost of damage the insured causes to someone else’s motor vehicle and property, but it does not cover cost of damage to your own motor vehicle.

Accidental Injury & Illness Insurance:

Personal accident and illness insurance provides the insured a financial benefit for loss of income as a result of an accident or illness. 

Motor Vehicle Insurance:

Motor vehicle insurance is broadly defined in three areas.

  • Comprehensive Cover – This covers accidental damage to your vehicle, fire and theft and supplementary bodily injury and damage to third party property.
  • Third Party, Fire and Theft Cover – This covers loss or damage caused by fire and theft of your vehicle as well as supplementary bodily injury and damage to third party property.
  • Third Party Cover – This covers supplementary bodily injury and damage to third party property only.
Legal Liability:

Otherwise known as public liability insurance covers you for your legal liability for personal injury to another person (other than employees) or damage to property owned or controlled by someone else, which happens during the period of insurance and which is caused by an occurrence in connection with the business.

Work Tools Insurance

Work Tools or Tools Insurance pays for replacement if your tools are stolen due to forcible entry.

Business Insurance - Business Interruption

Business Interruption Insurance is usually part of a Business Insurance Package and provides a financial benefit for the reduction in your business income as a result of damage to your property.

Business Insurance – Fire & Defined Events

Insurance that pays a financial benefit for the physical loss of or damage to your property from insured events including but not limited to fire, lightning and explosions.

Business Insurance – Theft

Business insurance that pays a financial benefit for the loss of your contents and stock from theft, attempted theft, armed hold up, or an actual or threatened assault.

Business Insurance – Money

Business insurance cover for the loss of or damage to your business’s money from a wide variety of causes including theft, armed hold up or fire. Usually this type of business insurance covers money that may be in transit or at your premises.

Business Insurance – Machinery Breakdown

Covers the cost of repairs due to a breakdown of machinery, computers and electronic equipment at your premises.

Business Insurance – Business Expense

A business insurance that pays a monthly benefit to cover fixed business expenses whilst the insured is unable to work due to injury or illness.

Worker’s Compensation

Worker’s Compensation is a compulsory insurance for employer which pays a financial benefit to workers injured in the workplace.

WorkCover

WorkCover is the organisation that manages workers’ compensation insurance working with both employers and employees. WorkCover has been the main provider of workers’ compensation insurance providers to Queensland employers since 1997.å