🇦🇺Australia

COI Compliance Liability Exposure

3 verified sources

Definition

Inadequate COI tracking results in liability for accidents/damages by underinsured parties, leading to lawsuits, claims payouts, and legal costs.

Key Findings

  • Financial Impact: AUD 50,000 - 500,000+ per uninsured vendor claim or lawsuit
  • Frequency: Per incident, higher risk with portfolio growth
  • Root Cause: Manual tracking misses lapses, expirations, coverage gaps

Why This Matters

The Pitch: Real estate lessors in Australia 🇦🇺 face AUD 100,000+ claims from uninsured vendor incidents. Automation of COI verification prevents these financial losses.

Affected Stakeholders

Risk Managers, Property Owners, Legal Teams

Deep Analysis (Premium)

Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Certificate of Insurance Tracking Capacity Loss

20-40 hours/month per property manager at AUD 50/hour = AUD 1,000-2,000/month lost capacity

CAM Reconciliation Underbilling

AUD 31,200 annual unbilled per mid-size tenant (12% pro-rata of AUD 260k total CAM); scales to 5-10% total CAM leakage per property

GST Misreporting on CAM Charges

AUD 5,222 min admin penalty per false BAS + 11.5% GIC on underpaid GST; typical AUD 20k-50k per audit

Missed Maintenance Appointments

10-20 hours/week idle time at AUD 100/hour technician rate = AUD 1,000-2,000/week lost revenue

Unbilled Service Hours

5-10% of annual revenue leakage, e.g., AUD 50,000-100,000/year for mid-size firm

Overtime from Scheduling Conflicts

AUD 500-1,000/week overtime per team from scheduling inefficiencies

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