Insurance Details

Definitions:

The following terms are used through this document:

‘Spacenow’ means Shared Space Australia Pty Ltd t/as Spacenow (ABN 28 607 793 144)

‘Marsh’ means Marsh Pty Ltd (ABN 86 004 651 512, Australian Financial Services Licence Number 238 983)

‘Insured’ means companies as listed in the Current Schedule and their subsidiary companies

‘Current Schedule’ means the Current Policy Schedule which notes that the Insured is Shared Space Australia Pty Ltd t/as Spacenow and all persons and entities that rent and/or lease space using the Spacenow platform.

‘Occurrence’ means Personal Injury or Property Damage, an event, including continuous or repeated exposure to the same general conditions, which results in Personal Injury or Property Damage neither expected or intended from the Insured’s standpoint.

‘Policy’ means Public and Products Liability Insurance placed by Marsh.

‘Spacenow Platform’ means the interactive website – www.spacenow.com – through whichparticipants are able to arrange to rent or lease a commercial premises

Cover:

Marsh have arranged a public and products liability Policy with a reputable international insurer to provide cover for all persons and entities that rent and/or lease space to third parties using the Spacenow Platform. In the event of an Occurrence this Policy provides cover for the Insured up to a limit of $20,000,000.

This Policy will respond in the event of the total exhaustion of the Limit of Liability of a local policy, this Policy will continue in force as the underlying Insurance, subject to the terms, exclusions and conditions of the particular local policy.

This policy will not cover your broarder business activities or product exposures. It is designed soley to provide a basic level of cover for your activities as a renter/lessor of the nominated property through the Spacenow platform.

All coverage for the Insured is subject to the terms, limitations and exclusions of the Policy. A copy of policy wording can be requested by emailing info@spacenow.com  Spacenow will direct any policy specific questions through to Marsh.

Marsh arrange this insurance for Spacenow and are not the insurer. Marsh recommends that you speak with an insurance advisor to understand and structure an appropriate insurance program to cover your business operations.

Marsh provides the following information in respect of Spacenow. Spacenow:

  • is not an agent of Marsh or the insurer
  • act independently and have chosen to purchase this policy
  • do not hold an Australian Financial Services Licence (AFSL) and are not authorised to provide any recommendation or advice about the Policy to any party
  • will inform hosts and guests using the Spacenow Platform if the Policy is, or likely to be, cancelled or not renewed. If Spacenow fails to provide this notice, Spacenow may be responsible to compensate a guest or host who suffers any loss or damage from a booking through the Spacenow Platform as a result of the Policy not being in place.

Please submit your insurance-related enquiries to team@spacenow.com where they can be directed to the appropriate person.