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Insurance for Laing+Simmons Franchise Owners

Laing+Simmons have established two quality insurance schemes tailored to a Franchise Owners business. These are the Laing+Simmons Professional Indemnity Insurance Scheme and the Laing+Simmons Office Insurance Scheme.

These policies are of a high quality with numerous benefits offered at competitive rates.

1) Laing+Simmons Professional Indemnity Insurance Scheme

Professional Indemnity Insurance

We have two Professional Indemnity Insurance policies available to Laing+Simmons Franchise Owners. One is supported by CGU Insurance, a local Australian Insurer. The other is supported by Lloyds of London.

These schemes provide your business with cover in the event of a claim of professional negligence. This is important as a franchise owner who sells their business could still be sued many years later over matters they may have been responsible for whilst in the business. Under normal circumstances, run off insurance could cost the equivalent of approximately 4-5 years of annual premiums.

Professional Indemnity Insurance Cover includes;

  • Costs incurred to investigate a claim
  • Legal costs incurred to defend the Insured
  • Costs to dispose of a claim for which either a settlement has been reached or for which you have been found liable by the courts.

To make an enquiry about this offer or to arrange cover for your Laing+Simmons Franchise, please contact your Coverforce Service Team directly.

Benefits of the CGU Professional Indemnity Insurance Scheme may include:
  • A comprehensive policy wording backed by the quality CGU Insurance
  • Free 7 years run off cover for eligible insureds
  • Two reinstatements of the indemnity limit
  • Automatic Fidelity sub limit of $100,000
  • Optional Employment Practices Liability sub limit of $500,000
  • Statutory Liability sub limit of $250,000
  • Optional Cyber (first party and third party cover) sub limit of $250,000
  • Costs in addition limit of indemnity
  • Low “costs inclusive” excess structure
  • Definition of employee extends to include contractors/consultants/sub-contractors
  • Franchisor Liability Extension
  • Bodily injury/property damage cover to the full policy limit
  • Continuous Cover provision
Benefits of the Lloyds of London Professional Indemnity Insurance Scheme may include:
  • A comprehensive policy wording backed by the quality of Lloyd’s of London
  • Free 7 years run off cover for eligible insureds
  • Two reinstatments of the indemnity limit
  • Automatic Fidelity sub limit of $100,000
  • Employment Practices Liability sub limit of $500,000
  • Statutory Liability sub limit of $250,000
  • Cyber Liability (third party cover)
  • Costs in addition limit of indemnity
  • Low “costs exclusive” excess structure
  • Definition of employee extends to include contractors/consultants/sub-contractors
  • Franchisor Liability Extension
  • Bodily injury/property damage cover to the full policy limit
  • Continuous Cover provision

2) Laing+Simmons Office Insurance Scheme

The Laing+Simmons Franchise Owners Office Insurance Scheme has been designed to provide tailor made office insurance solutions that meet the specific requirements of Laing+Simmons Franchise Owners.

Cover depends on the options chosen and could include:

  • Accidental loss or damage to property
  • Theft
  • Glass and signs damage
  • Money
  • General property (cover for items removed from the office)
  • Employee dishonesty
  • Business interruption
  • Machinery breakdown
  • Computer & electronic equipment breakdown
  • Public liability
  • Tax investigation
  • Key & lock replacement on rental properties where keys are lost/stolen
  • Open house property damage & theft

Key Insurance Considerations for Franchise Owners

It is important to adequately protect your Laing + Simmons Real Estate business. In addition to Professional Indemnity and Office Insurance coverage, Coverforce recommend you consider each of the following types of insurance:

Cyber and Crime Insurance

Cyber criminals are becoming more sophisticated and are increasingly using tactics such as identity theft to hack into systems or company processes, obtaining access to company bank accounts and trust funds. Cyber related crime can result in significant losses to your business.

Without the correct Cyber and Crime Insurance in place, many businesses will remain uninsured for this criminal activity. Cover can be arranged via a packaged Management Liability policy or can also be arranged via standalone Cyber and Crime Insurance policies.

Public Liability Insurance

If you lease or own a company office, hold events, visit clients, participate in auctions and other sales or property management activity you will have an exposure to potential third party injury and property damage claims.

Public Liability is a ‘must have’ Insurance policy for all businesses who operate in the Real Estate and Property Management sectors.

Management Liability Insurance

Managing a business comes with its risks and responsibilities. As a director or officer of a business, your personal assets as well as company assets can be exposed to those risks under a range of circumstances.

Management Liability Insurance primarily provides coverage for Directors and Officers for loss of account from wrongful acts committed or allegedly committed in the execution of the director or officer’s duties.

These policies also extend to cover

  • Employment Practices Liability – full policy limit
  • Statutory Liability – generally up to $1,000,000
  • Crime (First Party & Third Party cover) – generally up to $1,000,000
  • Tax Audit – generally up to $100,000

Workers Compensation

This statutory form of insurance is compulsory in all states and territories for incorporated entities who employ staff or pay wages. Workers Compensation Insurance is also required for sole traders and ABN holders.

Why Choose GSA

A thriving Real Estate office can be a busy and demanding place and that’s why we don’t waste your valuable time. At GSA, we provide you with a direct line to your personal broker who can be contacted for professional risk advice at any time throughout the year.

We will provide quality, cost effective insurance policies to our clients, and will not leave your side in the unfortunate event of a claim. Both your broker and a dedicated claims manager will work with your insurer to expedite your claim and deliver your full entitlement without delay.

To make an enquiry about our special offer or to arrange cover for your Laing+Simmons Franchise, please contact your service team below.

Your Service Team

Stacey McGauran

Client Manager

(02) 8274 8100

stacey_mcgauran@coverforce.com.au

With over 20 years experience in the insurance industry, Stacey McGauran brings a wealth of knowledge and expertise to her role. Specialising in real estate and property management insurance, Stacey has been instrumental in assisting agents across Australia in securing tailored Professional Indemnity and Business Insurance solutions. Stacey is committed to delivering personalised service, ensuring that each client receives comprehensive risk assessments and insurance strategies that align with their business objectives.

Emma Carr

Client Executive

(02) 8274 8100

emma_carr@coverforce.com.au

Emma is a dedicated and detail-oriented Account Executive supporting our real estate clients with tailored insurance solutions. With a strong foundation in client service and a keen interest in the real estate industry, Emma brings fresh energy and a proactive approach to every interaction. She works closely with our senior brokers to ensure clients receive responsive service, accurate advice, and smooth policy management.

Learn from our experience

Insurance should be the last step in any Risk Management process, so get proactive and help protect the future of your business. Visit our downloads page to find a range of materials designed to help your team minimise risk including:

  • Risk Management Tips for Real Estate Professionals
  • Risk Management tips for Property Managers
  • A series of 12 Real Estate claims Case Studies featuring Risk Management Strategies to help you avoid similar pitfalls

Arrange a Quote

To arrange a quote for your LJ Hooker franchise, simply follow the steps below:

  1. Download and complete the Professional Indemnity Insurance Proposal Form
  2. Send your completed claim form along with all supporting documentation to GSA using the details below;

For more information, please contact:

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