Adelaide landlord says insurance companies refusing to cover Hindley Street properties

The Australian Hotels Association says insurers are asking many applicants to pay for a risk assessmentAlex Radda owns the building where he used to lease a cocktail bar."They're paying around about $13,000 a year for their business insurance, where as we were paying $3,000," he said.Mr Radda said no-one wanted to insure his building because it was on Hindley Street.

Mr Radda said insurers offered little explanation for declining to sell cover and he felt they were "geographically discriminating". Mr Horne said country pubs struggled to get cover because insurers saw many as a fire risk due to their age. Australian Hotels Association SA chief executive Ian Horne says insurers are being selective about who to cover.He said insurers also wanted applicants to pay for a risk assessment at their own cost.

Oh well. Never mind.

Makes sense

Because they are a liability!

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Twitter sues Elon Musk over bid to exit $44bn takeover dealCompany seeks to force completion of sale, saying billionaire ‘refuses to honor his obligations’ Take him to the cleaners
Source: GuardianAus - 🏆 1. / 98 Read more »

Migrants the fastest way to fill 500,000 job vacancies: boardsSkilled migration and employee share schemes are key to solving the skills shortage, say company directors who warn it has become the biggest problem for business. bet that depends on pay and conditions This is TurnbullMalcolm legacy. Westacott refers to those “two year visas”. Turnbull did that. He essentially gutted the employer sponsored visa program to suck up to the unions. ALP not keen to fix it for same reasons. Turnbull destroyed Australia’s migration program. Get the employers to provide quality accomodation - they would soon change their tune
Source: FinancialReview - 🏆 2. / 90 Read more »

Veteran VC’s warning for start-ups amid tech sell-offBill Ferris says venture capital funds will need to rethink how they revalue portfolio companies, tipping more down rounds than up rounds.
Source: FinancialReview - 🏆 2. / 90 Read more »

Telstra moves call centres back to Australia to appease customersTelstra CEO Andy Penn has announced the move today, saying it has come after the company heard from customers "loud and clear" that they wanted the change. Yes $23.67ph via Probe in Melbourne 🤷‍♂️ Good move by Telstra. We need more jobs moved to the regions and out of overcrowded capital cities… deanja110 About f**ken time.
Source: 9NewsAUS - 🏆 10. / 72 Read more »