Lexon Insurance in Brisbane, Queensland, Australia | Insurance Agent

Lexon Insurance

Locality: Brisbane, Queensland, Australia

Phone: +61 7 3007 1266

Address: Level 18, 307 Queen St 4000 Brisbane, QLD, Australia

Website: http://www.lexoninsurance.com.au

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25.01.2022 From 1 Jan 2021, foreign interest in securities, assets, a trust, or Australian land that is acquired by Will is no longer exempt from the FIRB regime (s29 Foreign Acquisitions and Takeovers Regulation 2015 (Cth)). A foreign person as defined by s4 Foreign Acquisitions and Takeovers Act 1975 (Cth) will need to comply with the FIRB regime before the interest is transferred to them. Alternative options such as a beneficiary disclaiming a gift or selling of the property can be considered but may carry their own revenue and taxation consequences. This change may affect drafting wills, acting in an estate administration and drafting settlement terms for estate litigation. Lexon’s Wills and EPOA, FPA and Estate Administration Packs are being updated to reflect this change and will be released soon.

24.01.2022 Lexon released a risk alert on 18 November including: NEW EPOA forms which must be used from (and not before) 30 November 2020, a discussion on the changes and updated Wills and EPOA Pack; introducing NEW Qld Rural Conveyancing tools added on to the existing Conveyancing Protocol; NEW Trust Funds (Legal Risks) Lastcheck and FileNote to address recent claims in this area; NEW resource discussing jurisdictional expertise risks; Lexon has also updated the Cyber Protocol (which c...an result in a deterrent excess since 1 July 2020) to include the concept of ‘institutional instructor’; COVID-related insolvency considerations including the effect of s588GAAA Corporations Act; an update to the General Litigation Pack; and a reminder of the combined effect of Sch 5 and s302 of the Workers Compensation and Rehabilitation Act 2003 on limitation dates. If your practice is insured with Lexon and not currently receiving these alerts, email [email protected] to subscribe. #RiskManagement #LawPractice #EnduringPowerofAttorney #RuralConveyancing #Cyber #TrustFunds #LimitationDates

23.01.2022 Lexon released a risk alert on 15 October: Introducing a NEW Sign-Off Lender Loan Agreement letter to be used before your lender client executes a Loan Agreement. This document contains key prompts to ensure your client’s objectives are being met by prompting key drafting, checking and advice elements regarding the Loan document to confirm before sign-off; Revamped Wills and EPOA Pack incorporating previous feedback as well as recent claims, redesigned to improve usability ...with additional tools such as client authorities; NEW CALD LastCheck and Acknowledgment for Interpreters - to be used whenever a practice is dealing with multicultural and multilinguistic clients including information on considerations when engaging a translator/interpreter; NEW tool listing important questions to ask your Cyber Security Software Service Provider today; and amendments to the Conveyancing and Leasing tools keeping updated with the everchanging regulation and requirements. If your practice is insured with Lexon and not currently receiving these alerts, email [email protected] to subscribe. #RiskManagement #LawPractice #Succession #LoanAgreement #SoftwareProvider

23.01.2022 Recently, there have been a number of cyber incidents reported to Lexon by practices that have suffered significant impact. It’s often the simple attacks that prove to be the most effective, and the most prolific. Amongst these are Account Takeover Attacks, which continue to do significant damage to the practices impacted by them. And yet, significantly reducing the likelihood of falling victim to this type of attack is also very simple: Multi-Factor Authentication (MFA). See Lexon’s Where to Deploy MFA and talk to your IT adviser today about the deployment for your practice. #LawPractice #RiskManagement #Cyber #Hack #MFA

19.01.2022 As of 21 March 2021, the Determinations which modified s127 of the Corporations Act 2001 (Cth) allowing electronic signing of documents, or to execute a counterpart in physical or electronic form, during the COVID-19 period have ceased. Check that you have updated your processes to reflect the correct requirements in all practice areas for electronic signing including if on or after 22 March, requesting evidence that the signer was duly authorised or signing is ratified. Download the updated Lexon Conveyancing Protocol now: https://bit.ly/3s5HEPZ #LawPractice #RiskManagement #CorporationsAct #ElectronicSigning

09.01.2022 Lexon released a risk alert on 8 March 2021 announcing updates to: Succession - changed FIRB regime for foreign interests acquired by Will from 1 Jan; General Litigation - including if the time and quantum of the statutory demand regime has been increased by Declaration of Eligibility for Temporary Restructuring Relief until 31 March and more; Extreme Weather Event resource - including updated advice on insurance and any contractual rights to extend time for digital settlemen...ts; Criminal Law - including new prompts for geographical jurisdiction and effect of guilty plea on insurance policies; Personal Injuries - new additions to assist with keeping clients in contact and requesting an emergency contact. If your practice is insured with Lexon and not currently receiving these alerts, email [email protected] to subscribe. #RiskManagement #LawPractice #FIRB #Succession #Litigation #Criminal #PersonalInjuries

05.01.2022 In the last week, Lexon has unfortunately seen two cyber hack instances where a total of $1.4million was stolen! As Christmas approaches, Cyber hackers are aware of staff on leave and the season pressure on practitioners to finalise client matters whether it be a purchase of a new home, a finalisation of a family matter and other various matters where clients are eager to have a fresh start in the new year. Don’t start your 2021 by being sued by your client because your practice was an unfortunate victim of these hackers. Make sure your practice reads in full the Cyber Protocol and implements the various elements in it. #StolenMoney #Cyber #CyberHack

04.01.2022 NEW EPOA FORMS MUST BE USED IN QUEENSLAND FROM 30 NOVEMBER As a result of the legislative changes, Practitioners MUST ensure they use the new Enduring Power of Attorney and Advanced Health Directive forms from 30 November 2020. The existing forms CANNOT BE SIGNED BY THE PRINCIPAL after this date. See the new EPOA Forms as well as Form 9 - Enduring power of attorney explanatory guide and the Queensland Capacity Assessment Guidelines 2020 available here: https://www.publicat...ions.qld.gov.au//17942707-4c02-4c98-af Familiarise yourselves with the new forms now and put measures in place to ensure that you are not using invalid forms at any point in time. Watch this space as Lexon will soon be releasing the updated Wills and EPOA Risk Pack to incorporate these important changes. Make sure you use the current forms until and including 29 November. #RiskManagement #LawPractice #Succession #EnduringPowerofAttorney #AdvancedHealthDirective

04.01.2022 On 29 September 2020, the Queensland Government published amendments to the Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 which provide for an extension to the existing response period under the Regulations so that, for the extension period, lessors and lessees will have rights and obligations that broadly mirror the Regulations as they apply in respect of the current response period (29 March 2020 to 30 September 2020). See the Lexon Website for more information and download Lexon’s updated Leasing Tools. www.lexoninsurance.com.au #leasing #COVID19 #lawpractice