Prof. Allan Manning's Blog

Explaining why commercial insurance policies have penalties for under insurance.

Explaining why commercial insurance policies have penalties for under insurance.

I received this question overnight. Hi Allan, I was explaining underinsurance to my husband today on commercial risks and he asked me the question on why do insurance companies apply this, as if he is paying premium on half the risk why should he then get penalised and not paid out the insured amount. I actually couldn’t tell him why insurance companies do this. Do […]

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How much should we expect of our volunteer fire fighters?

How much should we expect of our volunteer fire fighters?

I read with interest the article in the Guardian titled: Scott Morrison and the Coalition are fiddling as Australia burns Two things in particular caught my attention aside from the whole climate change debate which has so much of the community divided. The first was that the smoke haze in Sydney was so bad that it triggered more than 150 fire alarms in commercial buildings […]

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Blog question: what should the Section 1 Declared Value be based on under an ISR

Blog question: what should the Section 1 Declared Value be based on under an ISR

I received the following question. Hi Allan Most insurers include the estimated cost escalation based on lead times contained with a building valuation as part of the CURRENT building Declared Values.    Obviously during the reinstatement phase construction costs increase due to the significant length in time required.  Do you think the calculation below is fair and reasonable to be included as a rateable value? […]

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Product Recalls Australia – 11 Dec 2019

Product Recalls Australia – 11 Dec 2019

This week’s product recalls include: Harley-Davidson Australia Pty Ltd — Harley-Davidson Trike Models CVO Tri Glide, Tri Glide Ultra and Freewheeler MY2019-2020 Mini Moni — Baby Sandals Oldway Farm Pty Ltd — Mild Salami, Spicy Salami, Beef Cabana, Beer Sticks, Beef Cheese Kransky and Spicy Beef Chorizo Bentley Motors Limited — Bentley Continental Supersports and Continental Supersports Convertible MY2017 Roccoco Botanicals — Blueberry AGE Cream, […]

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University research on trust confirms what we all know

University research on trust confirms what we all know

In a study released by the Australian National University it is reported that 3 out of 4 people believe people in government only look after themselves and only one in four think the government can be trusted. The lack of trust is not just in our politicians but also government institutions have reached a historic low point in Australia. In 2019, just 59 per cent […]

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The risks of travel hit home with the events at White Island, New Zealand

The risks of travel hit home with the events at White Island, New Zealand

My heart naturally goes out to those involved, their families and the emergency service and medical personnel who are dealing with this horrific event where up to 11 Australian’s along with other nationalities may have lost their lives. Australian’s love to travel and per head of population we are up there as the most travelled. While the events in New Zealand are terrible it must […]

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The number of homes destroyed in NSW by bush fires is terrible

The number of homes destroyed in NSW by bush fires is terrible

More than 680 homes have been destroyed by bushfires in NSW this season, the Rural Fire Service (RFS) has confirmed. When you consider that NSW has the lowest take up of home insurance and the highest level of under insurance it paints a heartbreaking Christmas for many. Another 250 houses have been damaged, while more than 2,000 outbuildings have been destroyed or damaged. The updated […]

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Tackling one risk can create another hidden one.

Tackling one risk can create another hidden one.

When I purchased LMI’s first drone to assist with building damage and risk surveying I was concentrating on reducing the risk of injury or death to our staff. Climbing up on a ladder to view a damaged roof, telecommunications tower, crane boom or the like can be extremely dangerous. It was only about a week later that I woke up in the middle of the […]

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Product Recalls Australia – 4 Dec 2019

Product Recalls Australia – 4 Dec 2019

This week’s product recalls include: Subaru (Aust) Pty Limited — Subaru Forester MY2019 TubeCo Pty Ltd — D-Deka Bunk Bed Zao & Co — Wooden Teether Shapes Peach and Pumpkins — Mambo Waterproof Newborn Neck Ring (0-1 Year) Nissan Motor Co (Australia) Pty Ltd — R52 Pathfinder MY2017-2018 – extended recall Kalleske Meats — Plain Mettwurst 500g, bonus 150g Audi Australia Pty Ltd — Audi […]

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NSW Introduces Mobile Detection Cameras

NSW Introduces Mobile Detection Cameras

More and more accidents are being caused on our roads by people using mobile phones while driving. A study completed by the Australian Government in 2011 revealed that 59% of mobile phone users used their phone while driving. It is time that something was done, and as of December, New South Wales will be the first State in Australia to take action by introducing mobile […]

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