Schindler Lifts Australia | Insurances

Workers Compensation Insurance Exemption:

Supplier to Provide Personal Income Protection Policy

• Insured Name must match that registered and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN and names together. This is ideally a  letter or download from ABR showing the linkage;

• We can accept ‘PTY LTD’ or ‘(Pty) Ltd’  in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what’s shown on company compliance paperwork verse what’s shown in onsite.

• 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

NOTE: If the policy is paid on a monthly basis, the document must show when the recent payment was made or when the next payment is due

In the event a company cannot upload the Certificate of Currency (COC), proof of payment evidence will be accepted.  Acceptable Proof of Payment evidence types are:

• Receipt from the insurance provider (must include the company name and insurance type on the receipt)

• Remittance Advice which includes the Insurance Provider / Broker and insurance type,  confirming that payment has been made (must include the company name)

Statutory Declaration with Bank Statement (showing payment processed) – the Statutory Declaration must state that payment has been made to the nominated insurance provider and that the insurance type is current.

• 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

If Proof of Payment Evidence is submitted:

• Issue Date = Payment Date

• Expiry Date = 30 days from the payment date.

• Insurer = [leave blank]

• Policy Number = [leave blank]

• Item = Public Liability - Proof of Payment

• Amount Description = [leave blank]

• Amount = [leave blank]

• 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;

• We can accept ‘PTY LTD’ or ‘(Pty) Ltd’  in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what’s shown on company compliance paperwork verse what’s shown in onsite.

• Minimum amount of 20 million dollars Australian for any one occurrence; Coverage amount to be recorded;If less than 20 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 20,000,000 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
  
  

In the event a company cannot upload the Certificate of Currency (COC), proof of payment evidence will be accepted.  Acceptable Proof of Payment evidence types are:

• Receipt from the insurance provider (must include the company name and insurance type on the receipt)

  • Note: A Tax Invoice requesting payment by a due date is not acceptable. This is indicated by a  "BPAY" Biller Code and Ref at the bottom.

• Remittance Advice which includes the Insurance Provider / Broker and insurance type,  confirming that payment has been made (must include the company name)

Statutory Declaration with Bank Statement (showing payment processed) – the Statutory Declaration must state that payment has been made to the nominated insurance provider and that the insurance type is current.

NOTE: The type of policy can be listed in the 'liability limit' section of the policy (e.g. under the class or description it may refer to a policy type that 'requires approval' however under the limit or interest insured section if it refers specifically to an accepted type listed above this would be deemed acceptable.

NOTE: If the policy is paid on a monthly basis, the document must show when the recent payment was made or when the next payment is due

• 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 = The type of cover where its liability limit covers any one occurrence (e.g. if the limit of indemnity states $20M any one occurrence in respect of public liability AND in the aggregate in respect of the product liability, we will only record public liability as the amount description)

• Amount = as specific on policy (must be minimum of 20 million AUD or equivalent)

If Proof of Payment Evidence is submitted:

• Issue Date = Payment Date

• Expiry Date = 30 days from the payment date.

• Insurer = [leave blank]

• Policy Number = [leave blank]

• Item = Public Liability - Proof of Payment

• Amount Description = [leave blank]

• Amount = [leave blank]