New Security

• We are pleased to confirm that your policy is now supported by our Lloyd’s Syndicate 2427. This enhancement strengthens the security behind your cover. Our business address and contact details have also been updated.
• Introduction of clearer language, refreshed definitions, and alignment with current legislation, ATO standards, and market requirements

Coverage Enhancements

• Professional Fees covered for up to 18 months following commencement of a Tax Audit
• 20% sub-limit introduced for objections and appeals (100% for SMSF)
• Introduction of a cyber exclusion for improved clarity on this exposure.
• “Tax Audit” definition expanded to include non-lodgement investigations
• Cover applies where ATO penalties are 25% or less

Definitions & Technical Updates

• Updated and simplified definitions aligned with ATO terminology
• “Insured Amount” updated with GST application now based on input tax credit position

Claims & Policy Conditions

New provisions covering:

• Governing law
• Other insurance
• Service of Suit Clause

If you have any questions regarding these updates or your renewal, please do not hesitate to contact us.
Agile Underwriting Services Pty Ltd
Suite 1, Level 6, 171 Clarence Street, Sydney, NSW, 2000