AS AUSTRALIAN business owners and managers face substantial losses due to under insurance following the recent bushfires and floods, a new book written by Australian insurance broker Tony Bourke documents the many significant problems that small to medium businesses face arranging insurance protection on their own.
“The truth is that every business needs a qualified insurance advisor, preferably a broker, just as they need an accountant and a solicitor,” says Tony Bourke Director AIIB Insurance Brokers and author of Risk Your Business, Risk Your Life.
“With the knowledge provided in this book – the first of its kind for SMEs - businesses will be in a much better position to understand their insurance, and avoid making mistakes that can cost them their business,” he says.
The peer-reviewed book identifies the key areas where new and existing businesses often fail.
Risk Your Business, Risk Your Life has been written in an easy-to-read and easy-to-understand quick reference format that takes the mystery out of the complex area of insurance for business.
In one chapter, Bourke highlights the trap of under insuring one’s business assets.
He says that business owners need to arrange an Insurance Valuation from a qualified Valuer to assess all their business assets including buildings, contents, stock and income.
“This could save businesses many thousands of dollars,” he says.
Tony Bourke, who has more than 20 years experience in the insurance industry, says it is frustrating for him to see business owners and managers repeat the same mistakes.
He says people who read his book will learn how to better arrange their insurance so it protects their business, their income and their lifestyle. And in doing so, protect their life and the lives of those they love.
Risk Your Business, Risk Your Life releases December 2. A portion of the profits will raise funds for Alzheimer's Australia.
Mr Bourke has appeared on Sky Business Channel throughout Australia discussing insurance topics such as the Victorian “Black Saturday” Bushfires.
For further information or to order copies visit www.tonybourke.com.au