Income Insurance Australia

... helping Australians to secure a prosperous future

Income Insurance Australia :: News

Share this news item!

Innovative Fee Protection for Schools: A New Safety Net

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

360 Underwriting Solutions has marked a significant stride in financial resilience for educational institutions by launching a novel insurance product designed specifically for independent schools.

This new solution addresses a critical gap by safeguarding schools from potential financial disruptions caused by unpaid fees.

Often, schools face financial shortfalls when families experience unforeseen adversities. 360 School Fee Protect aims to alleviate these concerns by offering insurance coverage that kicks in under circumstances like a parent or guardian’s job loss, accidental death, or when a long-term disability strikes. This proactive step empowers schools to maintain financial stability even when external challenges arise.

"This supplementary product exemplifies our commitment to catering to distinct market needs," commented Denis Morrissey, founder and Managing Director of 360. "It not only extends valuable financial assurance to educational institutions but also aligns with our ongoing endeavor to deliver creative and practical insurance solutions."

Underpinned by Lloyd’s Syndicate 4444-and expertly managed by Canopius Managing Agents-the product ensures breadth in risk management. This collaboration with seasoned players in the insurance domain guarantees a robust and reliable safety net for schools.

360 has tapped into the expertise of Johnny Marchant as the executive director responsible for spearheading this initiative. 'In integrating Johnny’s profound industry expertise, we anticipate a successful rollout of 360 School Fee Protect,' stated Jason Clarke, CEO and Director of 360 Australian businesses. 'His acumen is instrumental as we introduce an essential product that promises substantial enhancements to school financial protections.'

Originally reported elsewhere, 360 School Fee Protect represents an innovative pivot toward not just cushioning financial impacts for institutions but also fostering a dependable educational environment. Catching up to evolving necessities, the endorsement of such products underscores the pivotal role of strategic, forward-thinking solutions in educational financing.

Educational institutions stand to benefit immensely from this innovation, ensuring they remain focused on their primary mission-educating students-without financial uncertainties clouding their operations.

Published:Tuesday, 8th Oct 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

0 Comments

No comments yet. Be the first to share your thoughts.

Insurance News

HESTA Announces 12% Reduction in Insurance Fees to Benefit Members

18 May 2026: Paige Estritori

HESTA, a leading Australian superannuation fund, has unveiled a significant reduction in insurance fees, aiming to make coverage more accessible and affordable for its members. Effective from 1 July 2026, the fund will implement an average 12% decrease across all insurance cover types, including death, total and permanent disablement (TPD), and income protection. - read more

Rising Mental Health Claims Drive Surge in Income Support Demand

18 May 2026: Paige Estritori

Recent data reveals a significant increase in the number of Australians accessing income support, with over 8 million individuals receiving assistance in the past year. This surge is largely attributed to a rise in mental health-related claims, highlighting a pressing issue within the workforce. - read more

AFCA Supports Insurer in Income Protection Offset Dispute

18 May 2026: Paige Estritori

The Australian Financial Complaints Authority (AFCA) has recently ruled in favour of Nippon Life Insurance in a dispute concerning income protection (IP) offsets, confirming an overpayment of nearly $18,000 and supporting the insurer's decision to suspend benefits during the reconciliation of compulsory third party (CTP) income. - read more

HESTA Announces Significant Insurance Fee Reductions and Enhanced Member Protections

10 May 2026: Paige Estritori

HESTA, a prominent Australian superannuation fund, has unveiled a series of changes aimed at providing more accessible and affordable insurance coverage for its members. Effective from 1 July 2026, these adjustments include an average 12% reduction in insurance fees across all cover types, encompassing death, total and permanent disablement (TPD), and income protection cover. - read more

APRA Implements Reforms to Strengthen Longevity Product Market

10 May 2026: Paige Estritori

The Australian Prudential Regulation Authority (APRA) has finalised amendments to its prudential standards concerning the capital treatment of longevity products, including annuities. These reforms, set to take effect on 1 July 2026, are designed to bolster the market for retirement income products by supporting innovation and reducing unnecessary regulatory constraints, all while maintaining robust prudential safeguards. - read more

Click for more Insurance News

Life Insurance Articles

Income Insurance: The Safety Net for Your Financial Goals in Australia

Financial security is pivotal for anyone striving to meet their life goals, be it owning a home, educating children, or ensuring a comfortable retirement. In Australia, where uncertainties can disrupt our best laid-out financial plans, having a safety net in place is essential. Income insurance offers just that—protection against the unforeseen events that could impact your income earning abilities. - read more

Income Protection Insurance: Balancing Cost with Adequate Coverage

Income protection insurance is a critical safety net for anyone who relies on a steady paycheck to meet their financial obligations and maintain their lifestyle. It offers a replacement income if you are unable to work due to illness or injury, ensuring that your financial responsibilities can be met even when you're not at your earning best. In today's fast-paced world, income protection has become an essential consideration for the modern working individual. - read more

Why Every Australian Entrepreneur Needs Income Protection Insurance

Entrepreneurship in Australia - a landscape overview: The allure of entrepreneurship in Australia is undeniable, with the promise of innovation, personal autonomy, and potentially limitless earnings. However, the path of an entrepreneur is often unpaved and unpredictable. Without the safety nets traditionally provided by corporate employment, Australian entrepreneurs must proactively safeguard their personal finances against the capricious winds of business fortune. - read more

Illness and Your Finances: Strategies for Continuous Income Flow

When illness strikes, the impact on your finances can be as significant as on your health. Maintaining continuous income flow during such times is crucial for financial stability. - read more

Common Pitfalls in Income Insurance Claims and How to Avoid Them

Income insurance is a critical component of financial planning, offering a safety net when life's uncertainties impact your income stream. It ensures that you can continue meeting your financial obligations even if you're unable to work due to illness or injury. This peace of mind is invaluable, especially in an unpredictable job market. - read more

Start Here !

Apply now for your free Insurance assessment and price comparisons!

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.