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In this edition

Taggart Education Series 2010 - A Sharemarket and World Economic Update
Building a bigger retirement nest egg
Aged care options
What you need to know about Ponzi schemes
Take control of who gets your super.
Comprehensive Truck Insurance Package - at a glance!
Workers Compensation Basics - what are they?

Article brought by Andy Wells

Andrew commenced his insurance career in London during the mid 1960's. He immigrated to Australia in 1970 and continued to be employed in the insurance industry by working for a number of Insurance Underwriters.

In Australia he started as a re-insurance clerk with the United Insurance Company moving on with the various takeovers and mergers with South British and NZI. Whilst with these companies the standard progression of tasks that were performed included Fire Underwriter, Accident Underwriter, Household Underwriter, Surveyor, and also was involved in setting up several computer policy systems.

After 15 years Andrew moved on to GRE as Re-Insurance Manager, then as a ISR and Property Underwriter. Later Andrew was transferred to Parramatta as a Branch Underwriter and Assistant Manager.

GRE was then taken over by Zurich, where Andrew spent the next 7 years before moving on to Broking where he has now been for the past 7 years.

His present position is Senior Account Manager - General Insurance with the Taggart Group Pty Ltd. Andy has successfully completed Tier 1 level for General Insurance & Insurance Broking with The Australian & New Zealand Institute of Insurance & Finance. Andy is a Senior Associate with The Institute and holds CIP status.

Contact details

Website
The Taggart Report
Phone
02 9894 9155
Fax
02 9894 8599
Email
Email us

Comprehensive Truck Insurance Package - at a glance!

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Comprehensive Truck Insurance package - what is it?

A comprehensive truck insurance package can include commerical motor vehicle cover, liability, marine cargo and business interruption. You can choose to include all the products or tailor the cover to suit your needs. Commercial motor is the only mandatory inclusion.

Who is it for?

Generally for small to medium businesses with less than 15 commercial motor items to insure. This allows the flexibility to tailor a package that suits your unique needs.

The benefits

Every business in the transport industry has different needs. A package such as this offers small to medium business flexibility to decide what to insure and the level of cover you require. A package such as this can also offer 24/7 accident assistance on-site repairs and parts guarantee.

The features

Commercial Motor Insurance:

Some of the features include:

  • new for old replacement cover on trucks following a total loss if the insured vehicle is less that two years old;
  • removal of debris cover up to $50,000;
  • third party liability coverage up to $32.5 million for non-hazardous goods;
  • automatic cover for 30 days for additional vehicles up to the value of $300,000

Liability insurance:

Covers public and product liability cover including:

  • liability for property damage from fire and accident;
  • personal injury to contractors, hired staff or third parties such as visitors or the general public;
  • product liability arising from the incorrect use of goods, mixing or assembly;
  • care, custody and control from $100,000 for damage to goods held on behalf of a customer;
  • damage to underground services caused by earthmoving equipment.

Marine Cargo:

The policy can offer a choice of carriers goods in transit cover or a broader accidental damage option [some restrictions apply]. The accidental damage option can include automatic cover for:

  • loading/unloading
  • shedding of load
  • theft, pilferage and non-delivery
  • cover for expenses related to recovery cost, mustering/agistment plus clearing of debris to set limits;
  • cover for hire of a replacement vehicle and repair/replacmenet of shipping containers to a set limit;
  • cover for freight consequential loss to a set limit.

Business Interruption:

This is an income protection style of cover - when you have a valid claim for damage to your vehicle, the policy will protect you if you have selected this option. You can define the benefit you wish to receive and the indemnity period you wish to cover. Indemnity periods are sold in weekly 'lots', up to a maximum of 24 weeks.

What next?

If you think that this package would be a great product for your business, please contact Lisa on 02 8858 0012 or lamorello@taggartgroup.com.au, or Louise on 02 8858 0015 or lhowarth@taggartgroup.com.au for further information or quote.

Disclaimer: Information above provided by National Transport Insurance - www.nti.com.au. Full details of the product can be found in their Product Disclosure Statement [PDS], and you should consider the PDS when choosing whether or not to acquire or continue holding a policy. A copy of the current NTI PDS can be obtained by contacting our office, of calling NTI Limited on 07 3290 3290.

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