Blog question – ISR Mark IV or Mark V, which is better?

Blog question – ISR Mark IV or Mark V, which is better?

I received this question which is not that easy to answer. On more than one occasion I have come up against a competing broker who states to clients that Mark V is better than the Mark IV therefore even if the Mark IV terms are more competitive the client has been so bamboozled they believe it. What is your view, is the Mark V better […]

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Guest Post – What does home insurance cover?

Guest Post – What does home insurance cover?

I often get requests from people and organisations seeking to make a guest post on my site. Unless it is meaningful and is not a straight product flog I will certainly share and embrace their articles. (You would be staggered how many requests I get from gambling sites). This guest post is from Alex at Lendi.com.au. What does home insurance cover?   The Wye River […]

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A statistic that will surprise some but not all

General insurance covers such a broad range of products it is extremely difficult, if not impossible, to be across them all. One product that has taken off and is often seen being advertised on television is Pet Insurance. A recent government report highlighted the concentration by 1 insurer in this space. Clearly they do it well and many brands are with partners they have selected […]

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RIMS 2018

Four of us from LMI Group have traveled to San Antonio in the US for the 68th annual RIMS (Risk Management Society) Conference. Several of us have been going for a number of years to stay up to date with our learnings and to gather ideas on ways we can provide a better service to our customers. While I have been privileged to present at […]

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Take care on reducing coverages

As the team at PolicyComparison.com go through new policies and update, they bring to my attention any changes that gives them concern. What is being noticed is, at the same time rates are increasing in many classes of general insurance,  some new and/or broader in their effect exclusions are being introduced and that these could easily be missed. One such change has been the introduction […]

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Blog Question: new exclusion on professional indemnity policies in respect of non-compliant building materials

I recently received this email: Hi Allan, Further to your posts regarding issues with shoddy building products, unfortunately insurers are now seeking to exclude this risk in a very heavy handed manner. In particular, exclusions to professional indemnity insurance for building surveyors, architects etc that removes all cover irrespective of fault. The below clause for example is extremely onerous & removes all cover even in […]

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A disturbing response to my post today on buying business insurance direct – Get Ready for a Manning Rant!

In response to my earlier post today I received this email from a distressed broker. Thanks yet again Allan for your insights. Yes; it is extremely distressing to note the upsurge in the so-called ‘direct’ market influence. I’m going to be very blunt now & tell you about an experience I’ve had during the last week. The son of a very loyal commercial client of 30 […]

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Buying insurance on Price: Who would be that stupid to recommend that? Perhaps some who should know better!

Yesterday afternoon, Prof Allan Fels was complaining about the difference in price between home and contents insurance policies and advocating people shop around each year. While he is quoted as explaining there are differences between policies, the fact of the matter is that you typically get what you pay for, but it is not easy for the consumer to understand the complexities of the policies, nor […]

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New research confirms my intuition which in turn prompted the creation of websites

I have always felt that the emphasis on price when it comes to general insurance was just plain wrong! As many readers would have heard me say, no one remembers the price when a claim occurs. The Insured is looking for a top of the range policy that provides genuine protection for the loss they have just sustained and a claims service that provides fast, […]

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Warning – where parts are not available on a machinery break down policy

A broker contacted me concerned that the policy which one of his staff had arranged contained a restriction in a case where a piece of equipment has suffered a machinery breakdown and is unable to be repaired, as the parts are no longer available, and the policy limited the Insurers liability to the value of the parts if they were available. The client was expecting a replacement […]

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