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Insurance Business | 22 Nov 2013, 08:00 AM Agree 0
An underwriting agency has launched a novel product in response to complaints that clients are coming unstuck thanks to inflexible policies – and hints at future product plans.
  • Lindsay | 22 Nov 2013, 01:44 PM Agree 0
    I am a Broker and also have a SMSF. My superfund is named on my standard HH policy and Artwork is specified. My accountant and Auditor have both accepted this complies with SMSF regulations, or more particularly that there is no regulation suggesting it doesn't.
  • Broker | 25 Nov 2013, 03:21 PM Agree 0
    The superfund is a business and therefore excluded on the liabs section of the HH policy and should therefore be on a separate Bizpak. According to legislation you are not supposed to have superfund owned property in a domestic premises, unless in a home office. Thus separate cover should be in place regardless.
  • Lindsay | 26 Nov 2013, 09:00 PM Agree 0
    Disagree that a Superfund is a business, it is purely a vehicle for holding assets and investments, similar to a trust. Having an ABN and/or ACN does not even make it a legal entity. The Trustee, being coprorate or personal is the legal entity. Not sure of any regulation insists the trustees have a commercial Public Liability cover. I do have assets in a what I would determine is an home office and therefore disagree with the conclusion "thus separate cover should be in place regardless" and is supported by my accountant and superfund auditor.
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