Do you know what is one of the most important detail in your insurance policy?

Even though it seems like a minor detail, the ‘Insured Name’ of your insurance document is more important than any other part of the policy.

This is because if the insured name is incorrect or the name that you entered is not your legal entity name, your policy might not be valid and may not respond to claims.

Business names and trading names is not the same as legal entity names. The legal entity name can vary between different business structures of the insured. An insured can be an individual, a group of people establishing a partnership, a corporation (private, public company or group of companies authorised to act as a single entity) or others.

In this article, we will be looking at the differences of insured name based on the most common types of business entities.

Sole Trader

Your insurance is often in your personal name and it may also include your trading name/ registered business name (if you have one). For example, Bill Jones trading as Jones Consulting.


A partnership is similar to a sole trader that it will include your names and trading name (if you have one). All the names under the partnership should be listed. For example, Bill Jones & Paul Johnson trading as Jones & Johnson Consulting.


For a Proprietary Limited business, the policy should show the full company name. If there is a different trading name, it should also be included. For example, Jones Consulting Pty Ltd trading as Jones Consulting.


Insured trusts will need to list the name of the trustee, the name of the trust and the trading name of the business. For example, Bill Jones ATF The Jones Family Trust t/as Jones Trading Jones Consulting (“ATF” stands for “As Trustee For”).

Still Unsure?

To find a legal entity you can check using the ASIC company register and lookup for your registered Organisation & Business Name. We are here to assist you if you are still unsure of what entities and names are to be included in your insurance policy.

You would also want to make sure to always stay proactive and inform your broker or insurer when there are any changes to your existing entity. This is especially crucial when the changes are made in the middle of your policy period, to ensure the details of your insurance policy are always up to date. Contact us online or at 1300 739 861.

Disclaimer – “This material contains general information only and may not suit your particular circumstances. To decide if a policy is right for you please carefully read the relevant Product Disclosure Statement (PDS) and/or Policy wording. While we have exercised due care and skill in preparing this information, Optimum Insurance Services (Optimum) does not accept any legal responsibility or liability for negligence or otherwise to you or anyone else who seeks to rely on this information. This includes, without limitation, loss arising from a possible failure of the information to comply with statutory or regulatory requirements or the failure of the information to identify other terms and conditions beyond those considered in this document. You should obtain advice to ensure that your policy provides adequate cover for your circumstances.

“Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative of Insurance Advisernet Australia Pty Ltd (Car No. 291220), Australian Financial Services Licence No 240549, ABN 15 003 886 687.”

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Optimum Insurance Services Pty Ltd is a Corporate Authorised Representative (No. 291220) of Insurance Advisernet Australia Pty Ltd (AFSL No. 240549).


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