Mitti Business Package Renewal Checklist - 2022

• Site conducted

  Select

• Conducted on

  Date

• Prepared by

• Client name

• Policy Number

• Broker Contact

• Broker Phone Number

• Broker email

• Has the name of the business changed in the past 12 months?

  Yes

  No

  N/A

• What is the new business name?

• Have you added or disposed of any business entities?

  Yes

  No

  N/A

• If yes, what is the change?

• Has your physical address changed?

  Yes

  No

  N/A
• If yes, what has changed?
  Address

• Has your mailing address changed?

  Yes

  No

  N/A

• If yes, please provide new mailing address

• Has the nature of your business changed?

  Yes

  No

  N/A

• If yes, how has it changed?

Property Insurance

• If you own or are responsible for insuring the building/s, have you reviewed the replacement value of the building?

  Yes

  No

  NA

• if yes, what is the current replacement value $

• Include the value of the engineer's and architect's fees. Remember the cost of construction may have increased at a greater rate than inflation.

• If no - please take a moment to talk with your client and review replacement values

• Have you conducted a review of the values of plant, equipment and machinery, fixtures & fittings, office equipment, stock including raw materials, work in progress and finished goods including goods held for customers?

  Yes

  No

  NA

• Machinery, plant & equipment $

• Is there any equipment which has recently been or will be decommissioned (obsolete) equipment?

  Yes

  No

  NA

• Has obsolete equipment been removed from the schedule of plant & equipment and updated?

  Yes

  No

  NA

• Speak with your client and ensure this information is updated with your favourite Mitti Broker

• Office equipment $

• Customers' goods $

• Fixtures & fittings $

• Stock $

• If no, please discuss with your client

• Have you reviewed your policy sub-limits for removal of debris, extra costs to comply with changes to comply to the building code, theft and other?

  Yes

  No

  NA

• If no, speak with your client

• Have you reviewed the range of perils that your policy provides protection against, including accident or malicious damage, flood, machinery breakdown and others?

  Yes

  No

  NA

• If no, speak with your client

• Have you added or removed any security, alarms, bars, monitoring services or the like?

  Yes

  No

  NA

• If yes, please provide details of the changes

• Have you changed/improved any of the fire and life safety equipment installed at your premises including, fire detection systems, monitoring processes and the like?

  Yes

  No

  NA

• If yes, please provide details

Business Interruption

• Protection against a disruption to the business, due to a reduction in turnover or an increase in the expenses of the business at the business location (situation), caused by an insured peril. Please consider the following , since your last renewal

• Have the business turn over and/or your business expenses changed?

  Yes

  No

  N/A

• If yes, please ensure these amounts are updated and accurately reflect the insured values prior to renewal

• Do you expect your business to grow over the next 2 years

  Yes

  No

  N/A

• If yes, please discuss the expected growth rate with the client and ensure the rate of growth is factored into the values insured.

• Has your dependency on any one customer or supplier, including ones from overseas, changed in the past 12 months and/or is likely to change moving forward?

  Yes

  No

  N/A

• If yes, please discuss with your client and ensure this change is accurately reflected as a change in the renewal documentation

Broad form liability

• Protection where the insured business is legally liable for bodily injury or property damage occurring during the period of insurance. Please consider the following since your last policy renewal.

• Have there been any significant changes to your business operations? For example, have you started selling any new products or providing any new services? Have you added staff or increased your payroll costs?

  Yes

  No

  N/A

• If yes, please discuss with your client and ensure these changes are reflected as a change in your renewal documentation.

  Yes

  No

  N/A

• Have you changes or taken on any new contracts? Do any of these contract provide an indemnity or hold harmless clause, and/or agreement to pay contractual fines or penalties if you are unable to fulfil the terms of the contract? Signing any such contract may invoke a policy exclusion in your liability policy. While Contractual, some fines and penalties may be able to be insured under your business interruption program.

  Yes

  No

  N/A

• If yes, please discuss with your client and your favourite Mitti underwriter.

• Have you reviewed the limits of liability provided by your liability program?

  Yes

  No

  N/A

• In no, please discuss with your client and ensure the limits are accurately reflected in your renewal documents.

Disclaimer

• This checklist is not, nor is intended to be, a complete list of protections offered as part of your Mitti Business Package and is intended as a guide to start the pre-renewal conversation with your client. Please refer to your product disclosure statement and speak to your favourite Mitti Underwriter.