Insurance Key Considerations for Small Business. With Karla Vosloo

In this essential episode of Bean There, Done That, host Phillip Di Bella sits down with Karla Vosloo, Account Manager at Stellar Insurance Brokers, to demystify the world of insurance for small business owners—especially those in hospitality. Karla shares invaluable insights on how insurance has changed since COVID, the hidden pitfalls of underinsurance, and why every café or restaurant owner needs to rethink their risk exposure in a world of rising premiums and unpredictable weather events. It's a must-listen for any operator who thinks insurance is just paperwork—until disaster strikes. KEY TOPICS & THEMES How COVID transformed consumer and business behaviour around insurance Why insurance premiums are skyrocketing—and what you can do about it Cyclone Alfred and real-world lessons on flood cover and business interruption The risks of underinsurance, non-disclosure, and not reading the fine print The importance of tailored insurance solutions for cafés and small businesses Cybersecurity and why every business, no matter the size, needs protection Employment liability in hospitality: growing risks and legal reforms TIME-STAMPED KEY POINTS 00:00 – Intro to the show and the value of learning from those who've "bean there" 00:50 – Karla Vosloo from Stellar Insurance joins the show 02:20 – Insurance pre-COVID vs. post-COVID: a major industry shift 04:00 – Insurance premium increases vs. utility cost increases 05:10 – The Cyclone Alfred example: Why disasters impact everyone’s premiums 07:00 – What 'insurance pooling' really means for you 08:00 – The rise of self-insurance and its serious risks 09:00 – Business interruption: a surprisingly affordable yet critical policy 12:22 – The danger of non-disclosure and underreporting claims 14:50 – The types of cover every café should consider 17:30 – Management liability and employment disputes post-COVID 20:12 – When to review your insurance policy (hint: more than once a year) 26:12 – Common reasons claims are rejected—and how to avoid them 28:30 – Tips for ensuring a smooth claims process 29:30 – How tech and AI are shaping insurance risk assessment 30:20 – Cyber insurance: rising threats and how to protect yourself 33:30 – Final thoughts: proactive over reactive insurance thinking ABOUT OUR GUEST Karla Vosloo is an experienced insurance broker and trusted account manager at Stellar Insurance Brokers. With a passion for small business and a talent for simplifying complex insurance concepts, Karla helps clients navigate risk, tailor policies to their real needs, and avoid common industry pitfalls. Her background in both Australia and New Zealand gives her a broad and practical perspective—especially relevant in today’s climate-impacted economy. Connect with Karla: 🔗 LinkedIn 🏢 stellarinsurance.com.au   TAKEAWAYS Insurance has changed—you must reassess your policies annually. Business interruption insurance is often overlooked but can be a lifesaver. Full disclosure is essential—even minor claims or activities can impact future coverage. Cyber attacks are rising, and insurance can now help offset these increasingly common threats. Public liability, fit-out, contents, and management liability are non-negotiable for cafés and hospitality businesses. Documentation is everything—keep inventories, receipts, and visual proof to avoid claim delays. Brokers provide peace of mind, extended credit terms, and better policy clarity vs. online insurers. LINKS & RESOURCES Stellar Insurance Brokers The Coffee Commune Tim Die (HR Cartel) – previous episode on industrial relations Australian Fair Work Act Updates – March 2025 Recommended: CCTV, cloud backups, and cyber audits for small businesses Produced by The Podcast Boss