TAL equips advisers to better understand business insurance

2019 -

TAL, a leading Australian life insurance specialist, is running a series of national education workshops on business insurance advice to help financial advisers to better support their customers in this space.

Run through TAL’s industry leading product-agnostic Risk Academy, the workshops are presented by TAL’s National Technical Manager, Scott Hoger, and they focus on the technical skills needed to create effective business succession plans.

TAL Head of Licensees and Partnerships, Beau Riley, said the workshops were developed to help advisers identify key advice opportunities that exist in their customer base and raise awareness of the importance of business insurance to small to medium-sized business owners. 

“Business insurance advice has grown significantly as a new avenue for financial advisers. While there are more than 2.3 million actively trading businesses in Australia , research indicates that less than 20% of Australian businesses are equipped with a succession plan . This underinsurance gap presents an ideal opportunity for financial advisers to fulfill their Best Interests Duty and add value to their customers.

“By supporting customers to develop good succession plans, financial advisers can help customers maximise the value of their businesses and ensure they meet future needs.

“There is a clear need for business succession advice and financial advisers with the technical knowledge and skills in the space will differentiate themselves in the market. TAL Risk Academy’s Business Insurance Essentials workshops develop advisers’ skills to help them leverage this opportunity.”

TAL Risk Academy’s Business Insurance Essentials workshops travelled across Australia throughout March, ending in Perth on 21 March. Mr Riley said that feedback around the workshops has been positive, with advisers citing that the case study learning format made the technical topic easier to understand.

TAL Risk Academy will be running Business Insurance Masterclasses throughout April 2019 in Sydney, Brisbane, Adelaide, Perth, Melbourne and Canberra by David Glen, TAL National Technical Manager. The Masterclass carries five CPD accreditations for the Association of Financial Advisers (AFA) and five CPD accreditations for the Financial Planning Association of Australia (FPA). 

The Business Insurance Masterclass attracts a small fee that will be donated to the Australian Business and Community Network (ABCN) Scholarship Foundation, a not-for-profit organisation that connects business with disadvantaged children to improve their education. To enrol in the Masterclass or find out more information, visit: https://risk-academy.csod.com/client/risk-academy/.

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