15 May 2017
Insurance obligations as a business owner
Article

Insurance obligations as a business owner

We offer a wide range of insurance to protect your assets but, whatever business you’re in, you need to cover the basics. For many businesses that means Workers Compensation and Compulsory Third Party insurance.

Workers Compensation

In most cases, as an employer you must take out Workers Compensation insurance. If one of your people is injured or becomes sick in the course of their job it compensates them for lost earnings, medical expenses and rehabilitation costs. All of which helps them recover and get back to work.

Workers Compensation works differently across Australia’s states and territories. Check your state to find out more, and whether we can cover your business.

We also provide access to a national network of Workers Compensation experts, comprehensive training programs, risk management advice and self-insurance services to help your people and business thrive.

Compulsory Third Party (CTP)

If you operate business vehicles, they must be covered by CTP insurance. If you, or one of your people, causes an accident in which someone else is injured, it’ll cover the cost of their compensation claim.

We provide competitive CTP insurance to businesses across New South Wales, Queensland and South Australia. Getting cover is easy, whether it’s for a single vehicle or a large fleet.

While CTP covers your legal obligations, it doesn’t cover the cost of damage to other people’s vehicles or property, or your vehicles, if the accident is your fault. For that you'll need Commercial Motor insurance.

Additional cover

Once you’ve covered your legal obligations, what other insurances should you consider? We provide broad cover, such as Injury and Illness , Business Liability and Property insurance and specialist protection for industries such as farming, construction and aviation. To find out what we can do for you, see our range of business insurance or contact us.

Business insurance explained

Key risks when storing dangerous goods and flammable liquids

09 Nov 2022

If you store dangerous goods or flammable liquids on a commercial property, you need to make sure you’re covering all the risks.

Read more

Why accident and health insurance is critical to building a resilient workplace

07 Nov 2022

Personal accident and illness insurance can help employers create a socially responsible workplace where employees can thrive and want to stay.

Read more

Insurance for tradies – make sure your insurance is up to the job

31 Oct 2022

Being a tradie comes with risks, and if you’re not covered, one wrong move could cost you big time. Here’s a few tips to help build your insurance toolbox.

Read more
Read all business insurance articles

Interested in QBE business insurance?