Risky Business

August 2012

People On Hand

Welcome to this month's edition of "Risky Business".  


Exciting times! 
We have cracked the 300 client mark! We are also attending the Quest Business Awards night as finalists in the City North area on 14 August. We are up against a strong field, and we will take it on the chin if we don't win gold. Just aiming for a PB. Thank you to everyone for voting for us.
This month we focus on Managing Risks of the Media and Crisis Management. We also discuss the potential risks of having EPS Sandwich Paneling in your premises. 


Please below for details.   


  Insurance News 

CPR News
Ready to go to air? I'm from a Current Affair.


It is your worst nightmare and it has just arrived in the foyer with a camera crew in tow. That's right, it is one of those pesky reporters from that annoying 6.30pm tabloid television program you love to hate.


Bad publicity is a risk all businesses face, whether it is deserved or not. If it is badly handled, brand and reputation can be irretrievably damaged. What are your options if you do get the knock on the door? If you don't panic, there are a few.


The best option is to buy time. It's reasonable to ask for a couple of hours while you prepare a response. There is no point in losing your temper, barricading yourself in your office or shoving the camera away with your hand. It looks a lot worse than simply saying something like, "I'm happy to respond once I've had a chance to look into these allegations".


We can recommend a Media Consultant to help you. His name is Julian Kennedy.


If you have a crisis to manage, need someone with the knowledge with how to deal with any risk of media fall out, give him a call on 0434 367 582 or visit www.juliankennedypr.com.au  


In the meantime, click here to read more about what to do when the media comes knocking on your door. 






EPS is an acronym for 'Expanded Polystyrene' foam. It is also called 'Sandwich Panel' or 'Insulated Panel' system and consists of two metal [aluminium] faces bonded to a core of insulation which is made of expanded polystyrene.


We find EPS in risks such as Abattoirs, Butchers, Smallgoods manufacturing, Vegetable / Fruit wholesaling, Seafood Cooperatives, Cold storage, Bakeries, Dairies, Poultry operations, Pharmaceutical manufacturing and now we are starting to find it in Residential homes.


Why do businesses use it? It has excellent thermal characteristics for 'controlled' environments e.g. coolstores, it also provides good hygiene (which is why it is used in food processing).


It is also lightweight and easy to use when building. It is also water resistant and relatively inexpensive.


However, these materials have contributed to some of the biggest fires in factories or warehouses around the world and here in Australia. Why do insurers not like it? It has a relatively low flash-point of 250�C, and a fire can spread quickly (1.2 metres per minute). The other problem is that it produces large amounts of toxic smoke when on fire which endangers lives and property.


The Fire Brigade finds it a difficult fire to fight because polystyrene melts into liquid and because of the massive heat and the fact it is framed by metal or steel, the building can become structurally unstable when exposed to large amounts of heat or flames. Because of this, Fire Authorities are reluctant to enter a EPS site ablaze and indeed have lost their lives fighting such fires.


The concern for our clients is, have they disclosed any use of EPS to their insurers? Are they avoiding telling us about have EPS in their building to save money? If so, insurers can easily identify and if they have not factored in to their underwriting of the risk, they could have a claim declined.

Click here to read more about this product. 



  Joke of the Month 

Ethical Dilemna
Ethical Dilemna


You are playing in the Golf Club Championship. After 17 holes it's all tied up at the Par 4, 18th. You hit a sweet drive down the middle. He hits a screamer but the slice is in and it goes into some ugly rough. You do the right thing and go and help him look for it.


After a couple of minutes of fruitless searching he says "You go and play your shot. If I don't find it within the five minute rule, I will declare you the winner."


You hit your second shot on to the edge of the green. Just then you hear him yell, "I found it!" followed by a 'thwack'. The ball sails toward the green and runs up to within a metre from the pin.


The ethical dilemma is - do you expose him for the cheat he is? He couldn't have found his ball - you have it in your pocket.




See you next month.




NAS Broker  


Like us on Facebook


Fifty Plus


Types of Cover





NIBA Member


Couple at Computer


Quest Business Awards 2012