The gross written premium for general insurance jumped 8.7% in the 2020-21 financial year. This includes commercial policies. Newspack Insurance was able to moderate increases wherever possible and many policy premiums either didn’t increase, or if they did, the increase was contained as much as possible. With such a hardening market for premiums, how can […]
As most Newsagents know, Newspack Insurance is a wholly owned subsidiary of The Newsagents Association of NSW and ACT Ltd. NANA is aware that New South Wales Lotteries/Tabcorp/The Lott recently requested a considerable number of Newsagents supply a Certificate of Currency (COC) for their mandatory lotteries insurance. By implication, NSW Lotteries/Tabcorp/the Lott may have been […]
Feedback from Newspack Insurance shows burglaries, break-ins, robberies and theft are on the increase in Newsagencies across the ACT and NSW. The rise has been seen in shops located in stand-alone locations on shopping strips and in shopping centres and has coincided with increased trade due to the Christmas season and due to large lotteries […]
Under-insurance is more common than you think. Industry figures show up to 62% of small-to-medium-sized businesses including Newsagencies don’t have correct-value insurance. So, whether you’ve self-assessed or secured professional valuations for your business plant, equipment, and property, you might still be at risk of underinsurance. Here’s why:
Insurance provides an effective tool to assist Newsagents to manage different risks they face as small and family businesses. No one wants to go through the outcomes of a break-in and burglary but knowing there is an experienced and service oriented insurance adviser available to assist you through the associated insurance claims process should give […]
Newspack Insurance is the dominant provider of mandatory lotteries professional indemnity insurance in NSW and the ACT. Whilst most policies were due to renew on 30 June/1 July 2021, there are still a handful of policies which are still outstanding. Final notices have been issued to those Newsagencies that have not renewed their policy. If […]
Newsagents in NSW and ACT who have not renewed their insurance policies which were due for renewal in June 2021 may be running the risk of being in breach of their lotteries franchise agreement and also their tenancy lease.
Renewals for mandatory lotteries special risks insurance and professional indemnity insurance policies are now due for renewal. The general changeover date for lotteries professional indemnity insurance policies is 30 June. Ensure you renew your policy to protect your lotteries income.
The final batch of rebates to eligible NANA Members for lotteries insurance for 2020/2021 is being processed and payments should be made within the next 2 weeks. NANA expects the final batch to total more than $10,000 which will be a minor but welcome boost to reducing the insurance costs of Newsagents in NSW and […]
On 14 April Newspack Insurance sent stamp duty exemption claim forms to all current policy holders in NSW which will enable eligible NSW Newsagents to claim a NSW Government stamp duty exemption on certain types of insurance. Successfully claiming the stamp duty exemption will result in a minor reduction of insurance costs for mandatory lotteries […]