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Case Study: What’s the worst that could happen if you don’t have Business Insurance?

Glad you asked…. This is a cautionary tale! If you have credible Business Insurance Cover you can claim, if you don’t ….

What was Insured?

Nothing! PVIB had a phone enquiry for retrospective insurance for an importing business with the possibility that they would be sued.

What Happened?

We recently had an enquiry from a previous business owner let’s call her Jill.

Jill, a young mum who ran a successful online business importing and selling Rattan Cane Furniture from Asia for approximately 5 years. In Australia we have strict quarantine laws in regards to importing products from overseas and Jill complied with all her containers being fumigated on arrival to Sydney.

Jill obtained a quote to insure her business but had never taken up the policy.

Jill’s business was so successful she received an offer from larger online store to buy her business, Jill decided to sell, thinking she would also be selling all her liability for her products.

Unfortunately some of Jill’s furniture that she had sold in 2019 was found with active boras. Apparently fumigation is not 100% effective and bora eggs can hatch years later. Jill was advised that the fumigation company were not liable and that anyone who imports goods are deemed to be the manufacturer, meaning Jill was liable. This left her open to the company that had initially bought her company suing her for faulty goods.

We were approached to see if it was possible to get insurance against future claims but as we all know you can’t insure after the fact especially when there is the possibility of claims. There is no good news in this story and as it is still unfolding we wish Jill luck.

If we could go back in time we would advise her to take out insurance because it isn’t just about insuring your business when you are a small business owner, it is the potential fall out to your assets, your home, and your life.

An Insurance policy is about taking out peace of mind that when the unexpected happens you are covered. Contact Peter Vickers Insurance Brokers on 1300 784 011 for advice on the Best Insurance Cover for you or if you need help with claiming on your exiting insurance policy.

Why choose Peter Vickers? – For dedicated Personal service, Professional results.


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Suite 2/345 Pacific Highway,
Lindfield, NSW 2070

T: 61 2 9496 2300

Peter Vickers Insurance Brokers

Suite 2/345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011


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Windsor, NSW 2756
T: 61 2 4577 4455

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