Australia’s businesses are facing increasing challenges as negligence claims rise across industries. A parliamentary inquiry into the 2022 floods revealed insurers’ inadequate responses, leaving many struggling with over 300,000 claims totalling $7.4 billion. Delays and inconsistent decisions emphasised the need for robust and responsive insurance policies.
The hospitality sector is grappling with a 120% surge in public liability insurance costs, driven by a rise in litigation and fraudulent claims. This has strained businesses and increased costs for consumers, highlighting the critical need for proactive risk management.
In construction, the collapse of companies like Porter Davis has left projects unfinished, prompting legislative reforms. Victoria has introduced stricter penalties for builders who sign contracts without proper insurance, aiming to protect homeowners and ensure accountability.These developments make it essential for businesses to reassess public liability policies and implement effective risk strategies. At Melino Legal, we specialise in guiding businesses through these challenges with tailored solutions to safeguard against unforeseen liabilities.