Today I received a massive surprise when I opened the mail to find that I had been nominated for the Australian of the Year Awards for 2013. On top of all the acknowledgements this year including honorary life membership of ANZIIF, the Insurance Industry Life Time Achievement Award, a finalist in the Victoria University Alumuni Awards and InsuranceNEWS [the magazine] top 20 most influential people […]
Yet another claim that keeps me awake at night.
A week or so ago a decorative panel on the front of a large building fell down smashing to the ground. An inspection by builders and an engineer revealed that there was cracking in a large number of the panels and the recommendation was that the building be protected and the panels replaced. The insurer has agreed to meet the cost of the panel that […]
Shaking my head in disbelief
Our Melbourne office was appointed to two major fires yesterday and in both cases the business had no business interruption cover. This is going to have a huge difference to the client’s business surviving. It is one thing to have the assets protected which of course is extremely important but that is only half the point. Equally if not more important is to have business […]
Merry Christmas – Posts will resume in February
It has been the usual mad dash leading up to the Christmas / New Year break with everyone trying to finalise as many claims and projects as possible before year end. I have continued to post a number of articles (see below for the most recent posts) but there are many more important issues to be addressed, however they will have to wait to the New Year. Not […]
More Fair Work Act changes come into force 1 January – Need for Management Liability.
In October 2012, the Federal Government announced changes to the Fair Work Act. Many of these changes come into law from New Year’s Day 2013, which is now less than 2 weeks away. To my mind the main change is the amendment to the timeframe for applicants to lodge unfair dismissal claims relating to termination of employment to 21 days. The new uniform time limit is seen as an improvement by most […]
Updated Cost of Super Storm Sandy
The so called Superstorm Sandy that struck the east coast of the United States after causing wide spread damage and casualties in the Caribbean is expected to rank as the sixth-costliest catastrophe with up to $25 billion in insured losses based on the latest estimates. Catastrophe modelers peg Sandy’s insured losses between $10 billion and $25 billion. If the storm’s insured losses reach $18.8 billion—the […]
Blog Question – Loss of Rent for related company.
I received this question on Business Interruption insurance on the issue of loss of rent for a related company. “Good afternoon Allan, Please note that I have had an enquiry from one of our existing clients (doctors surgery/general practice) to review their Business Interruption insurance under their CGU Business Package (AIMS/Austbrokers agreed wording) and their accountant needs some further advice on how to best complete […]
Travel Warning on Suitcase Security – Holiday quick tip # 1
Most people think that their luggage is safe and can be left for a short period at an airport or somewhere else unattended. Others use it to store their passport, camera or shopping in while out sightseeing rather than use the hotel safe. Just how vulnerable a suitcase can be and the risks of tampering with no sign of it having occurred can be seen […]
Fire (and other perils) do not take a holiday – Holiday quick tip # 2
As we approach the Christmas / New Year period, it is timely to remember that risk management should not be overlooked. The accompanying photograph shows a business that did not have a good Christmas. In another case the firm took risk management very seriously and as part of this did all the required electrical testing every 6 months. A staff member went out and purchased […]
Travel tip over the holiday period
Most people think that their luggage is safe and can be left for a short period at an airport or somewhere else unattended. Others use it to store their passport, camera or shopping in while out sightseeing rather than use the hotel safe. Just how vulerable a suitcase can be and the risks of tampering with no sign of it having occurred can be seen clearly in […]