I hereby declare that I am a Capital Gains Tax small business entity (within the meaning of section 152-10 (1AA) of the Income
Tax Assessment Act 1997 of the Commonwealth). I am a small business individual / partnership/ company and/ or trust, which is
carrying on a business, and the business has an aggregated turnover of less than $2 million*.
* Aggregated turnover is your Australia wide annual turnover plus the annual turnovers of any business entities that are your
affiliates or are connected with you.
* A fraudulent declaration may invalidate your insurance contract.
If required please find the following PDF version of the declaration form which you can download and complete.
At Kobe, we take your privacy seriously. You can find more in our Privacy Statement.
Understand your insurance policies
The following table will help you better understand each class of insurance and what it covers. Application forms can be accessed by clicking the ‘Class of Insurance’ for more popular products.
If you have any questions, Contact Us.
|Class of Insurance||What does is cover?|
|Accounts Receivable||Loss due to inability of the insured to collect debts from customers as the direct result of loss or damage by an insured peril to records of accounts receivable which are contained in the premises.|
|Advanced Profits / Rentals||Consequential loss of profits / rentals as a result of the delayed completion of a project due to loss, damage or destruction caused by an insured peril / risk.|
|Audit||Professional fees incurred following audit request by Government|
|Boiler and Pressure Vessel Explosion||Loss or damage due to explosion or collapse of boilers and/or pressure vessels requiring a certificate of registration.|
|Burglary / Theft||Loss of or damage to insured property as a result of burglary or theft.|
|Business Insurance||One of the most common types of insurance for small to medium businesses. Business Insurance offers flexible business insurance coverage that can be tailored to suit your customer’s needs and protect their business against a range of contingencies.
You can choose from any of the following covers to protect your customers business and assets (as outlined in other parts of this table).
|Business Interruption||Loss due to interruption of the business as a result of loss, destruction or damage by an insured peril / risk.|
|Caravan||Loss of or damage to Caravans and legal liability to third parties arising out of the use of Caravans.|
|Carriers Liability||Legal liability for loss of and / or damage to goods and or merchandise owned by others when in your care custody and control and whilst in transit within Australia.|
|Charterers Legal Liability||Insured’s legal liability to owner of a chartered vessel and / or to third parties arising out of the signing of a charter party agreement.|
|Computer Multi Risks / Computer Breakdown / Business Interruption||Physical loss or damage, including mechanical or electrical breakdown, to computing equipment and loss due to interruption of the business as a result of loss, destruction or damage by an insured peril / risk.|
|Construction Risks / Liability / Advanced Profits||Loss, destruction of or damage to contract works and all materials ascribed to the contract whilst in transit and on or adjacent to “the site” (cover applies both during the construction and maintenance periods and is tailored to reflect the particular risks mentioned / applicable to specific contracts). Coverage can include legal liability for injury to any person and / or damage to any property of others arising out of the construction / maintenance operations|
|Contract Bonding / Contract Guarantees||Financial loss arising from the failure of parties to a contract to fulfil their contractual obligations.|
|Contract Penalties / Liquidated Damages||Penalties under contract for delay in completion of a contract on schedule.|
|Contractual Liability||Injury or damage an insured is responsible for under contract.|
|Corporate Travel||Baggage, overseas medical expenses, money, personal accident and loss of deposits for insured persons whilst travelling on the business of the insured. This policy is often purchased on an annual basis with the insured client as beneficiary.|
|Crop (Growing)||Loss, destruction or damage to crops from an insured peril / risk.|
|Customs & Payments Bonds||Liability under the customs and / or Excise Act as amended.|
|Cyber Insurance||First Party Costs – reimburses the Insured for the costs they would incur to respond to a breach, such as IT Forensic Costs, Credit Monitoring Costs, Public Relations Expenses and Cyber Extortion Costs (including ransom payments to hackers).
Third Party Claims – covers the Insured’s liability to third parties from a failure to keep data secure, such as claims for compensation by third parties, investigations, defense costs and fines and penalties from breaching the Privacy Act.
Business Interruption – this section provides reimbursement for the Insured’s loss of profits resulting from the breach, as well as any additional necessary expenses it may need to incur to continue business as usual.
|Directors’ and Officers’ Liability/Company Reimbursement||Directors’ or Officers’ for their legal liability for wrongful acts committed whilst acting in their capacity as a Director / Officer.|
|Drone insurance||Drone insurance policies are usually broken up into two parts – Liability (damage and claims to third parties) & hull damage (damage related to your UAV).|
|Electronic Computer Crime||Loss sustained by the insured as a result of fraud perpetrated by anyone other than the insured’s employees through the insured’s computer or electronic communications systems.|
|Employment Practices Liability||Legal Liability to pay arising out of a claim for employee discrimination, unfair dismissal, workplace harassment|
|Environmental Impairment (EIL)||Legal liability for personal injury or property damage caused by non-sudden or long-term pollution. This policy can also cover the insured for legal costs and the costs of removing, rendering harmless or cleaning up of any substance which has caused or would cause environmental damage.|
|Export Credit / Political Risks||Losses caused by: contract repudiation, export license cancellation or currency inconvertibility preventing the transfer of payments made under a contract; insolvency of an overseas customer; confiscation, expropriation, nationalization, requisition, destruction or deprivation by actions of governments or local authorities of countries in which the insured may trade.|
|Fidelity Guarantee||Loss sustained through fraudulent or dishonest acts committed by employees.|
|Fine Arts Risk||Loss of or damage to fine art and curios whilst on display, exhibition or in transit.|
|Fire and Perils / Industrial Special Risks||Loss / damage to insured property as a result of fire and / or extraneous perils and / or other risks (Industrial Special Risks).|
|Flood||‘Flood’ means the covering of normally dry land by water that has escaped or been released from the normal confines of any of the following:
|General Property||Loss of or damage to defined property normally of a specialized nature which is not covered under a Fire / ISR Policy|
|Glass Breakage||Accidental damage to internal and / or external glass, mirrors, tiles and signs.|
|Group Personal Accident||A nominated group of individuals for a specified benefit against loss of limbs and disablement. The benefits are payable to the company or association purchasing the cover.|
|Householders||Domestic dwellings and contents against fire and other perils including theft and personal liability. Note: If you do not take Contents Insurance you may have a personal liability exposure that is NOT Insured|
|Landlords||Residential investment properties & contents against fire & other perils including theft and loss of rent|
|Libel and Slander / Defamation||Indemnifies insured against claims for libel and slander by any person provided that such claims arise out of the occupation and conduct of the insured.|
|Livestock||Death or illness to specified livestock.|
|Machinery Breakdown – Business Interruption||Loss from interruption or interference to the business as a result of loss or damage to plant and / or machinery.|
|Machinery Breakdown – Material Damage||Sudden and unforeseen loss or damage to plant and machinery.|
|Management Liability||Incorporating Directors & Officers Liability, Statutory Liability, Crime cover and Employment Practices. See policy schedule for full details of cover provided as this may vary for each circumstance.|
|Marine Hull||The loss of specified vessels or craft as a result of an insured peril.|
|Marine Inland||Loss of and / or damage to goods and or merchandise whilst in transit within Australia.|
|Marine – Overseas||Loss and / or damage to goods and or merchandise whilst in transit to and from Australia.|
|Money||Loss of money and negotiable instruments.|
|Motor Vehicle||Loss of or damage to motor vehicles and legal liability to third parties arising out of the use of motor vehicles.|
|Motor Vehicle Down Time||Assistance towards expenses while heavy transport vehicle is being repaired or replaced following an insured event – up to the specified maximum benefit period.|
|Personal Accident & Illness||Covering individuals for specified benefit s against loss of limbs, disablement and weekly income. The benefits are payable to the insured or deemed beneficiary purchasing the cover.|
|Public & Products Liability||Legal liability for bodily injury and/or damage to property occurring in connection with the business.
Legal liability for bodily injury and damage to property caused by any products sold or supplied by the insured.
|Products Performance Guarantee||Legal liability either at law or under guarantee to repair or replace defective products made, sold or distributed by the insured.|
|Products Protection||(Malicious product tamper / contamination)
The costs and loss of net profit where products are withdrawn or destroyed due to active or alleged contamination or malicious tamper so as to render the product unfit or dangerous for use.
|Products Recall||Legal liability for all costs, expenses and damages for withdrawal or recall of goods or products because of any known or suspected defect or deficiency therein.|
|Professional Indemnity / E&O / Medical Malpractice||Legal liability to compensate third parties for loss or injury sustained by them arising out of negligent acts, errors or omissions on the part of the insured in the conduct of their business.|
|Protection and Indemnity||The insured’s liability to third parties as a result of ownership of a vessel / craft.|
|Special Risks||Loss or damage to specified personal jewelry or valuables. This cover is usually placed in conjunction with householders insurance.|
|Strata Title Insurance||Residential & Commercial Properties against fire and other perils including burglary; loss of rent; fidelity; machinery breakdown; liability; professional indemnity; voluntary workers|
|Statutory Liability||Legal costs & expenses for investigating & defending allegations of wrongful breaches of a statute & including fines or penalties that are payable to regulatory authorities arising from such breach.|
|Taxation & Audit Expenses||Professional fees charged by an accountant in connection with a Tax or other Government audit, including costs in obtaining expert advice.|
|Trade Credit||Credit Insurance for the risk of your customer not paying for the goods or services you’ve supplied.|
|Umbrella (Difference in Conditions) Liability||Similar cover to Public / Products Liability except that cover is expanded to extend over underlying motor vehicle, workers compensation liability and other liability policies as agreed.|