Over the past month, 3 relatives and friends have been involved in motor vehicle accidents where at least one of the drivers has admitted to texting or doing emails while driving.
As well, there was the tragic accident involving two police officers who were severely injured whilst setting up a random breath testing station in Sydney. Another case in the last month where the driver admitted to being distracted by their phone.
This is a serious problem that is confronting society and the insurance industry and I support the decision by more and more underwriters to include an exclusion in their policy, giving them the ability to deny liability in the event that the insured driver was texting whilst driving and the accident occurred.
Clearly the police alone cannot address this situation, which to my mind, is only becoming worse.
As many of you know, I thoroughly enjoy researching the history of general insurance and the conference in 2019 in Seville, Spain is of great interest to me.
Professor Robin Pearson, who was a key note speaker at the Bengkulu conference to celebrate the 250th Anniversary of the Principle of Utmost Good Faith, is a co-host of the upcoming conference to be held at the University in Seville.
The links below are call for papers, which allows anyone to submit as well as papers that have been accepted.
If anyone has any particular questions please don’t hesitate to let me know, and if I cannot answer it, I will pass it along to Prof Pearson.
Sessions detailed information
Call for papers
Business Interruption, cyber attacks, and natural catastrophes are, not surprisingly to us in the industry, the leading business risks this year, according to more than 1,900 risk experts from 80 countries polled for the latest Allianz Risk Barometer.
The survey by Allianz Global Corporate and Specialty reveals that cyber attacks and business interruption remain the leading two risks in Australia. What remains disappointing is that both cyber and business interruption coverage is often not taken out by many small to medium enterprises, commonly at their peril.
I continue to urge all business owners and managers to discuss these and other risks with their insurance broker.
Changes to legislation/regulation and natural catastrophes are also high on the list.
To read the excellent full report please visit: http://www.agcs.allianz.com/insights/white-papers-and-case-studies/allianz-risk-barometer-2018/
I conclude with their very insightful infographic.
I reported on two claims recently which were completely and utterly off the rails. The first being a home where this would be the 4th Christmas the Insured would be out of their home despite having their insurers top of the range product. It was a bush fire situation and there was no suspicion of arson, it was just a case of the panel beater builders completely letting the Insured down. After 15 months of trying, we finally got a common-sense solution, but it has now been 6 weeks that the release has been stuck in legal. How to draft a release was one of the first things I learnt as a claims officer when I was 17 years old and I cannot understand how a claim that has been so terrible handled is dragged on so that it cannot be resolved before Christmas number 4.
I was equally dismayed this morning to see a comment in The Age (21st December 2017) where an Insured has said
“The insurance companies are hopeless I won’t use them, I’ll just try and sell these”
This is a response to the recent hail storm we had in Melbourne.
It is comments like these and the negative feedback from the Insured in the claims that I wrote about recently, which they are saying to their friends and relatives, which caused the great doubt of trust in our industry. An industry which has as its core principles, Utmost Good Faith.
If we don’t address this situation we will suffer as an industry in the long term.
Source: The Age Newspaper, Melbourne, 21 December 2017