Industrial Special Risk
In our experience, most supermarket operators are technically underinsured, thereby placing themselves at significant risk of financial loss. MGIS can undertake a full audit of a member's current and future risk exposures including Asset Values, Sub Limits, calculation of Business Interruption Values and in particular, the Limits of Liability.

Once that information is clearly determined, MGIS is able to tailor the policy to your specific risk exposures and needs.

Management Liability
Business Practices Protection Statutory Liability or (Penalties and Fines cover)
Following the completion of the audit, the insurance portfolio recommended by MGIS may include a quote for Management Liability Insurance which also incorporates a cover for Statutory Liability or penalties and fines.
Companies and individuals can be held responsible not only for their own actions but also the actions of others. The company and or its directors, principals, partners and employees may incur a fine for the unauthorised or irresponsible actions of its contractors, agents or other directors, partners or employees.
Fines can be imposed by way of strict liability in circumstances which may be entirely unavoidable or for which insurance cover could have been established.
Statutory Liability Insurance protects the Insured Company, its Directors, Principals, Partners and Employees for their Liability to pay fines which may arise out of innocent or wrongful breaches of the many Acts which control their operations.
The policy covers:

• Fines
• Costs & Expenses to defend the imposition of a fine
• All Acts administered by Commonwealth, State & Local Governments
• Innocent Parties - the Wrongful acts of one party do not prejudice the cover provided to other innocent parties.

Public and Products Liability
MGIS will audit the member's existing current risk management program and assess the adequacy of existing limits of liability in light of recent court decisions.

Equipment Breakdown
Equipment and machinery breakdown is a significant contributor to total supermarket insurance claim costs. It has the potential for underinsurance as well as contributing to los of stock and significant interruption to the normal operation of the business.
The audit will reveal inadequate cover, the changes that should be made to the existing program. Significantly, the MGIS policy will provide recommendations for a tailored Business Interruption cover
This cover provides protection for all mechanical and electrical breakdowns of machinery and equipment, including boilers and pressure vessels. The MGIS extension provides protection for deterioration of stock and any potential business interruption exposures related to the loss or breakdown of machinery.
MGIS will discuss the advantages of establishing a structured service agreement with members during the audit.

Workers Compensation
The MGIS audit will examine all aspects of the workers compensation portfolio and advise on premium and claim related matters.
We can assist with members' workers compensation issues through our strategic alliance with a number of WorkCover Agents and insurers.