Visy | Insurances

Income Protection Insurance

• Company Name needs to match. If it doesn’t match, evidence must be provided to link the business names together. Ideally, this is a letter or download from the ABR showing the linkage.
• There is no minimum amount for Income Protection and the amount does not need to be recorded
• Must be current
• Must specify the state in which the certification has been uploaded for
• Must specify Income Protection or Accident and Sickness

• Issue Date = Start of coverage date listed on policy
• Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly 
  basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = Income Protection or Accident and Sickness as specified on the policy
• Amount Description = not required
• Amount = not required

Marine Insurance

• Company Name needs to match. If it doesn’t match, evidence must be provided to link the business names together. Ideally, this is a letter or download from the ABR showing the linkage.
• Must be current
• Must specify the state in which the certification has been uploaded for
• Must specify Marine Insurance

• Issue Date = Start of coverage date listed on policy
• Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly 
  basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = As specified on policy <accepted type> Marine Insurance
• Amount Description = As specified on policy
• Amount = As specified on policy

Motor Vehicle Insurance

• Business Name needs to match. If it doesn't match, government certified evidence must be provided to link the business names together. This is ideally a  letter or download from ABR showing the linkage
• Include list / schedule of vehicles covered
• Visy will accept a certificate off currency / policy statement and a separate list of relevant vehicles covered by the policy. This list may be from the insurance company or prepared by the contractor company
• Must be minimum 10 million (AUD) coverage for 3^rd Party Liability / Legal Liability / 3^rd Party Property/ Liability

• Issue Date = Start of coverage date listed on policy
• Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly 
  basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = As specified on policy <accepted type> Motor Vehicle Insurance
• Amount Description = As specified on policy <3^rd Party Liability / Legal Liability / 3^rd Party Property>
• Amount = as per policy (minimum of 10 million AUD)

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a  letter or download from ABR showing the linkage
• Minimum coverage of AUS$5,000,000 (or equivalent in countries other than Australia). Where coverage of less than AUS$5,000,000 this will need to be approved by the contractors Site or Regional Risk Manager
• Must be current
• If the policy does not list Professional Indemnity / Liability or Errors and Omissions a Product Disclosure Statement (PDS) is required before escalation.
• If PDS states Professional Indemnity or Errors and Omissions coverage – the insurance and PDS needs to be uploaded together for approval
• If the PDS does not specify Professional Indemnity or Errors and Omissions it will be escalated

• Issue Date = Start of coverage date listed on policy
• Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly 
• basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = Professional Indemnity
• Amount Description = Same as item
• Amount = as specific on policy (must be minimum of 5 million AUD or equivalent)

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a  letter or download from ABR showing the linkage;
• Minimum amount of 10 million dollars Australian for any one occurrence; Coverage amount to be recorded;If less than 10 million (AUD) the policy is to be returned
• If the policy amount is not in AUD a conversion at the time of processing is to completed to ensure the non AUD amount is greater then the 10,000,000 AUD amount
• Insurance must be current
• If the approved type is no specified clearly a Product Disclosure Statement (PDS) is required before sitet approval can be obtained.
• If PDS states Public Liability coverage – the insurance and PDS needs to be uploaded together for approval
• If the PDS does not specify Public Liability it will be escalated
  
  

• Issue Date = Start of coverage date listed on policy
• Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly 
• basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = Type of of coverage / policy (i.e. Public & Products Liability, Public Liability, Broadform Liability, General & Public Liability
• Amount Description = Same as item
• Amount = as specific on policy (must be minimum of 10 million AUD or equivalent)

• If a Sole Trader: the name on Licence should match the person registered
• If a Partnership: the name on the Licence should match one of the Partners name registered in the system
• If a Company: the name on  the licence should match the companies registered name
  
  
• Fire Protection Licence to be listed
• Colour copy required
• Front and back required
• Must be issued by the relevant states Government appointed organisation and the organisation logo must be present
• All State equivalent licences will be accept

• Issue Date = Start date if displayed or enter as yesterdays date
• Expiry Date = as shown on Licence