Is perception really reality?

As you would probably guess I am a avid reader on all things insurance and I am part way through a new book written on one Insured’s view on the performance of the insurance industry. The book is titled “The Christchurch Fiasco – The Insurance Aftershock and its implications for New Zealand and beyond” by Sarah Miles. I have not finished the book but my initial […]

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Blog Question – Is damage by meteorites covered?

I have received a large number of email and phone enquiries as to whether damage by meteorites as has occurred in Russia would be covered. The good news is that the impact damage from such an object is a standard cover under the vast majority of policies in Australia. I in fact no of none that exclude it. Beside the impact damage, there was damage […]

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Can brand insurance learn from the CPA’s

I have been a member of CPA Australia Ltd, since 1988 (then the Society of CPA’s) and have watched them slowly and carefully build their brand so that they have taken the image of an stayed and boring accountant to a energetic, empowered, trusted adviser to business large and small, local and international. Well before brand insurance was so badly beat up by the media […]

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Are our disasters natural or man made ones

I was asked last week to speak in Tasmania early next month on the subject of Re-Building the South East of Tasmania following the recent fires in that state. In preparation of my session I was interested to read the attached article by a resident of Sorrell, a community to east of Hobart. Bushfire Article We have this weekend remembered the horrific Ash Wednesday fires (South Australia and Victoria) […]

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Blog question – what triggers a progress payment

I received the following question: Dear Allan, ………… A young colleague asked me the other day as to what triggers a progress payment to an insured under a Business Interruption claim. Would underwriters generally wait to make a single, final payment or, under what circumstances and covers would a progress payment be requested and adjusted. I discussed the important role of a broker in this […]

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Good news, bad news and no news on Fire Service Levies

I start with the good news. As predicted in my early postings, Victorian State Government Fire Service Levies (“FSL”) in Victoria will be reduced again by some insurers, this time led by QBE. As I undersyand it there will be a significant drop in FSL as from 23 March 2013 (removed on home and contents insurance in rural Victoria from this date) and that at least […]

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Floods and fires hit Australia – again

It seems Australia and its people cannot get a break from the ravages of bushfires and floods. While the damage and destruction is devastating for those involved, it is good to see that the extent of damage and loss of life is less than over the past couple of years. What is extremely disappointing to read is the research carried out by Roy Morgan Research […]

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NTI and WR Berkley have new offerings

There are literally dozens of new policies and upgrades of existing policies in the Australian market each month. In some months it can be over 100. LMI PolicyComparison has a dedicated team that continually keep updating the site so that subscribers are aware of these changes and any improvements or derogations of cover. I thought I would share a couple that I have personally looked […]

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Mind the Gap – PolicyComparison takes off in UK

Speaking of LMI PolicyComparison, it is pleasing to see the response that the product is receiving in the United Kingdom since its launch in May 2012. Brokers and Insurers are seeing the benefit of having the independant review of wordings to ensure that the cover they offer contains no hidden gaps in cover which may cause an insured loss to their client and or a […]

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Congratulations on Allan Douglas AFMA Life Membership

I would like to pass on my warm congratulations to Allan Douglas on his being awarded Life Membership of the Australian Fire Managers Association at their annual conference, held last week (6th – 8th February 2013) at the Gold Coast. Allan was awarded the honour due to his outstanding service and dedication to the Association. Well done Allan.

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